– “Digital banking is not necessarily better banking. What matters most is meeting the customer’s needs in any given interaction. – Hersch believes that banks are lagging fintechs when it comes to customer experience, and as a result customer loyalty may be shifting toward nonbanks. – Her best advice is to first focus on making…
Month: January 2022
4Front Credit Union Chooses Scienaptic’s AI-Powered Platform For Advanced Credit Decisioning
“Leading AI-powered credit decision platform provider, Scienaptic announced today that 4Front Credit Union has selected its AI-based underwriting platform to strengthen the credit union’s loan portfolio by making advanced loan decisions using artificial intelligence. The credit union has $898 million in assets with a member base of 94,000 and counting.” https://www.businesswire.com/news/home/20220124005048/en/4Front-Credit-Union-Chooses-Scienaptic’s-AI-Powered-Platform-For-Advanced-Credit-Decisioning
AI in Fintech Market Research Report 2021 – Global Industry Analysis and Growth Forecast to 2030 – ResearchAndMarkets.com
“The global AI in fintech market size is projected to increase to $46,881.9 million by 2030 from $7,702.7 million in 2020, at a 19.8% CAGR between 2020 and 2030. AI helps in automating several processes in the banking, financial services, and insurance (BFSI) sector, such as online customer engagement via chatbots, claims processing, and answering…
“AI-Led Contextual Banking Will Lead to Higher Customer Centricity”
– “In the process of becoming “AI first” in vision and execution, banks are also getting more empathetic toward customers, getting to know them better, feeling their pain and delivering solutions that can make their lives better and easier. This calls for personalized, contextual banking experiences. – Contextual banking is a banking experience that takes…
Temenos Launches Industry’s First AI-Driven Buy-Now-Pay-Later Banking Service on the Temenos Banking Cloud
“In 2021, online revenue through BNPL increased by 45% compared to 2019. McKinsey estimates fintechs have diverted up to $10bn in annual revenues away from banks over the past ~24 months with BNPL offerings. By embedding XAI, Temenos enables clients to pre-approve loan applications or propose variable installments in real-time based on pre-determined criteria, including…