Here are four trending banking solutions that are transforming the traditional banking industry: Mobile Banking: Mobile banking refers to the use of mobile devices such as smartphones and tablets to access financial services and manage finances. Mobile banking allows customers to check their account balance, make transactions, pay bills, and perform other banking functions from […]

The financial services industry sees continuous changes all year round, and financial institutions need to constantly innovate to stay ahead of sector trends and emerging forces. And with 2023 fast approaching, it’s time to start thinking about the latest banking trends that could have a big impact for the next 12 months.   Digital banking. […]

The Consumer Duty final guidance comes with big requirements for evidence. Firms will need to deploy advanced data-driven technology solutions to meet the regulator’s data-focused demands, ultimately adapting their approach and processes in order to comply. Product management technology It provides a digital product governance solution specifically for the financial services industry. Its technology helps […]

The rapid expansion has been driven partly by the increasing availability of capital and the growing demand from consumers for more innovative and convenient financial products. Fintech has quickly become a significant disruptor in the financial sector. In just a few short years, fintech companies have seen tremendous growth, with many now offering core financial […]

To have an efficient business model, banks and credit unions are trying to adopt the right strategy between increasing physical branches, expanding into new markets and having a strong digital experience across products. More than $4.7 trillion has been invested in ongoing digital transformation initiatives worldwide yet, only 19% of customers reported significant improvements across 4 […]

Financial institutions usually aim to sustain and increase their customer base via acquisition and retention efforts yet over 70% of customer experience leaders have not been able to develop successful strategies that will increase customer loyalty and drive business growth, stated in the Gartner Customer Experience Research Team 2019 report. Banks would need to consistently try to […]

Around the world, financial services companies and their customers have been the key targets of cyber-criminals who consistently and continuously search for vulnerability points that can be exploited. For instance, A recent cutimes report indicates that 96% of financial institutions surveyed experienced physical fraud and 79% experienced cyber fraud frequently via small skimmer tools and scripts, PIN […]

Nowadays, mobile technologies have enabled convenient interactions and has become the dominant way that businesses engage with customers. In the BFSI domain, mobile banking usage around the world has continue to rise. A recent statista report states that over 23 million families in US will be using mobile banking by 2020 and over 2 billion people around the world, will […]

In today’s competitive landscape, customer acquisition and retention remain the key expectation of financial institutions. During engagement, customers make decisions based on their quality of service perception. Firms that focus on maintaining efficient omnichannel experience gets an average of 89 percent customer loyalty as against 33 percent, received by firms with little or no effort, a recent Aberdeen report states. […]

Massive amount of cash, large transaction volume and multiple access channels make banks top priority targets for cyber criminals. As financial institutions get better at defending, attackers get better at hacking. For instance in the first quarter of this year, more than 947,027,517 malicious attacks were identified by Kaspersky from online points in 203 countries. It detected PC-malware […]