Lucidworks Acquires Cirrus10, Global Ecommerce Service Provider, To Deepen Domain Expertise and Become A Leader in Digital Commerce Solutions

  • “Lucidworks, leader in AI-powered search, acquires Cirrus10, ecommerce solutions expert with more than 100 ecommerce customers.
  • Lucidworks’ AI-powered search produces relevant results, recommends products that meet customer goals, and predicts shopper intent to create a more engaging experience.”

https://finance.yahoo.com/news/lucidworks-acquires-cirrus10-global-ecommerce-151510523.html

Kount Named a Leading Provider of eCommerce Fraud Prevention Solutions in 2020 Frost & Sullivan Report

  • “Kount, the leading provider of AI-driven fraud prevention, announced it has ranked as a leader for growth and innovation in the 2020 Frost Radar in the U.S. E-commerce Fraud Prevention Market report.
  • Kount’s vast data network and the ability of Kount’s AI and machine learning to use this data across the network, finding patterns and behaviors that would otherwise be hidden.”

https://martechseries.com/sales-marketing/customer-experience-management/kount-named-leading-provider-ecommerce-fraud-prevention-solutions-2020-frost-sullivan-report/


Kount – https://www.kount.com

Are Banks & Credit Unions Losing Out on Savings Apps?

  • “As of October 2019, the U.S. personal savings rate stood at 7.8%, according to the St. Louis Federal Reserve. And a survey by Bankrate found that 40% of Americans can’t come up with $1,000 to handle an unexpected emergency.
  • At a time when consumers are begging for help, banks have a chance to be a hero and better their bottom line in the process. Automated savings apps not only enhance the customer experience but keep money in the bank that would have otherwise been spent.”

https://thefinancialbrand.com/91790/banks-credit-unions-savings-apps-fintech-mobile-ai/

Visa is acquiring Plaid for $5.3 billion, 2x its final private valuation

“Plaid develops financial services APIs. It is akin to what Stripe does for payments, but instead of facilitating payments, it helps developers share banking and other financial information more easily. It’s the kind of service that makes sense for a company like Visa.”

https://www.google.com/amp/s/techcrunch.com/2020/01/13/visa-is-acquiring-plaid-for-5-3-billion-2x-its-final-private-valuation/amp/

Image Credits: Sarah Wardlaw / Unsplash

TECHNOLOGY AND TRUST: BANKING IN AN EVOLVING MARKET

  • “Take Accenture’s Five Big Bets for Retail Payments in North America report, published in October last year. In a wide-ranging survey of US and Canadian banking experts, it found that between 11% and 15% expect to lose ground to fintechs and challenger banks, describing a market in which incumbents find themselves on unstable ground and faced with “truly transformational change”.
  • The paper, Banking of the Future, Finance in the Digital Age, also states that while technology and data advances are transforming the industry, future success in banking will rely on achieving the right balance between innovation, risk management and consumers’ behaviour and expectations.
  • The report, which is written by financial technology expert Professor Markos Zachariadis, says that the hyper-personalisation of banking, which will be enabled by technologies such as AI and augmented reality as well as advanced data analysis, and through which customers will take greater control of their own personalised data through ‘digital ID profiles’, will replace traditional product sales and service models.”

https://www.google.com/amp/s/www.fintechmagazine.com/fintech/technology-and-trust-banking-evolving-market%3famp