“Emerging markets in Asia, in particular, have recently seen a spike of 60% increase in contactless payments, with an eightfold growth in paperless B2B payment flows. McKinsey says this physical-to-digital shift is set to accelerate even more this year. And FSI organizations need to ride the wave, or risk being left behind. Fundamentally, I see…
Month: April 2021
Preparing Your Credit Union for Unforeseen Events
“Back in February, areas around the country were severely impacted by inclement weather. In Texas alone, 3.5 million people went without power for several hours in freezing temperatures. With frequent power and internet outages and most people still working from home, credit unions across the U.S. struggled to operate and meet their members’ needs. AI…
8 Ways Digital Banking Will Evolve Over the Next 5 Years
“The banking and fintech industries compressed roughly a decade of ecommerce innovation into a 10-month span. Advancements that were estimated to be years out may now emerge as the “new normal” within months. The future of banking will not only look different in regard to more rapid digital adoption, but also in terms of service…
Avant broadens its digital banking capabilities with challenger acquisition
“Avant is following the lead of other alternative lenders that have tied up with banks to increase profitability or expand into new credit products. LendingClub’s recent acquisition significantly reduced its cost of funds. By buying Radius Bank, the alt lender reduced its borrowing costs by 90% from the previous year. SoFi’s forthcoming transaction allows it…
Expert.ai and Fincons Group Extend the Use of Natural Language in Insurance and Financial Services via APIs
“The cloud-based expert.ai NL API provides developers and data scientists deep language understanding without requiring IT infrastructure, reducing development cost while optimizing natural language processing (NLP) applications. ‘We are excited to deepen the use of our NL API into the financial services vertical,’ said Gavin Sollinger, Head of Global Channel Development at expert.ai. ‘The combination…