“As new technologies open up data streams to and from third parties and emerging startups, banks will be able to offer their customers a range of new products, services and insights that will not only optimise customer experiences, both online and offline, but will create highly personalised, customised relationships. In financial services, Banking-as-a-Service (BaaS) platforms…
Tag: Digital Transformation
Taking Banking To The Cloud: Five Engineering Priorities
“Banking and financial services understand these demands, so it’s no surprise they are increasingly adopting cloud platforms; the global finance cloud market is expected to grow more than 22% annually through 2025. To ensure a swift, seamless transition to cloud platforms, we believe banks must overcome five major challenges. They’ll need to reengineer processes and…
World’s Best Digital Banks 2021: Round 1
“Since the launching of Bank of America’s Life Plan in October 2020, more than 4 million customers have used it to set and track short- and long-term goals. Underpinned by AI, Fatema has over 700,000 impressions on social media and is the first digital banking assistant to have its own social media account. A year…
Innovate or optimize? Companies need to operate like its 2020 for the next four years
“’This study captures the pulse of global business leaders and their nearly ubiquitous belief that massive digital opportunities abound in the next five years, and their company culture must embrace an innovation mindset,’ Respondents also ranked innovation, customers and employee experience as more important to company culture than shareholder value. The top 10 list looks…
India launches Account Aggregator to extend financial services to millions
“On Thursday, eight Indian banks announced that they are rolling out — or about to roll out — a system called Account Aggregator to enable consumers to consolidate all their financial data in one place. (Participant banks are HDFC, Kotak, ICICI, Axis, SBI, IndusInd, IDFC and Federal. Four of them are rolling out the system…