More than 80% of banking executives believe that the future of finance is financial services platforms, which consumers can access via banking applications. And as many as 65% of banking executives now say that technologies will have the most impact on banks through 2025. As we approach the end of [...]
With a majority of banks shrinking their network of physical branches and establishing a stronger digital presence, with online stock trading and digital wealth management becoming the primary choice of the consumers over personal brokers, the Banking and Financial Services sector is all set to transform to the core. With user experience as [...]
Just like every other industry, technology is bringing fundamental changes to the financial services sector as well. With the help of next-gen, emerging technologies, we are looking at a future with faster, smarter, and efficient financial services that are highly customer-oriented. Statistics say that most customers switch banks as [...]
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 [...]
We are living in a revolutionary time, a disruptive era, led by smart devices and a smart generation. Digitization has become the norm, the acceptable way of doing things. Cashless transactions overtake cash-based payments, physical bank visits are replaced by multiple mobile and net banking sessions, and AI and [...]
Fintech, short for Financial Technology, is the innovative use of technology in the design and delivery of financial services and it is transforming the banking world as we know it, says Henri Arslanian, the Chairman of Fintech Association of Hong Kong. Henri names Artificial Intelligence, peer-to-peer lending, big data, [...]
Banking sector was one of the first to embark on a digital journey. With the goal of delivering convenient transactions to customers, banking industry never shied away from new technology and latest innovations. Facilitating door-step transactions and eliminating the need to physically visit a bank, the banking industry is [...]
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, [...]
A report by Research and Markets estimates that the global Financial Services Application Market will clock $103.66 billion by 2019, at a CAGR of 9.1% during the forecast period 2014-2019. Today the strength of a country is estimated by the robustness of its economy and allied financial systems. Ensuring security and accessibility of [...]
For years, banks have been the behemoths clasping the one economic element that makes our world spin: money. They have slowly been evolving over the decades to reach a time where services to their customers has transformed with changing economic factors. However, with the rise in digital technology, banks [...]
