Digitalization is a challenge for wealth management firms and will provide an inevitable change in the coming decade. It is an essential aspect of modern investors’ premium service to include high-quality digital tools. Wealth management firms are facing challenges such as addressing the threat of fintech challengers, measurable success metrics, KPIs, [...]
The disruptive new entrants, challenger banks, and FinTech service providers are revolutionizing the banking sector. We are looking at a future where technology will drive the banking services and become the main attractant for retail banking customers. The situation is as if the legacy infrastructure of the banking incumbents [...]
A well-functioning financial system drives a well-functional economy. The modern economy and the modern financial systems have technology as one of the most powerful driving force. Today, the Banking, Financial Services, and Insurance (BFSI) domain operates out of our smart devices. Online transactions have become the norm. Over the centuries, banks have evolved from [...]
Icebergs can be deceptive when looked at! They encompass a huge mass below the sea level which is around 90% of its actual size, leaving only 10% for the naked eye. How is that related to banking? To answer this question, let’s look at an example: When a customer performs an action [...]
Retail banking does not remain untouched from the digital wildfire. As a matter of fact, customer-first banks are en–route their transformational journey to serve their digital-first consumers. The findings of a Business Insider report revealed a tremendous increase in the active digital customers in the third quarter of 2019 as compared to 2018. In the [...]
The e-tail industry is flourishing with rising inclination of shoppers toward online shopping. Statista has reported that the global ecommerce sales are expected to reach 17.5% by 2021 with credit cards being the most preferred payment option for online shoppers worldwide. With the advent of rapid digitalization and e-commerce, [...]
Digitalization has moved from becoming a trend to becoming a basic necessity for organizations such as banks that need to deliver value at various levels within the information technology and digital eco-system. In such a scenario, the C-suite of banking sector needs to stay abreast of the trends and [...]
A recent news update states how an ATM in the Houston area was shut down as it was dispensing $100 bills instead of $10s. This happened due to a manual error when a vendor incorrectly loaded $100 bills in a $10 slot. Though this was not a software glitch, [...]
Online Banking frauds have been very common in the last few years and as a result, globally, consumers have lost millions of dollars in online banking. Despite all the distrust and apprehensions around online banking, financial and banking apps continue to launch and get promoted. Financial apps are even [...]
