A recent Reuters article explored how companies like Cobol Cowboys make a fortune helping banks who struggle to keep their legacy systems running. But in fact, the real problem is not legacy IT, that’s just a symptom of the root problem in banks… the decision makers.
Keeping high data quality in customer relationship management (CRM) should be among banks’ top priorities! We explore how outdated customer profiles and poor data quality may hurt banks’ efficiency.
IBM are not doing “cognitive computing” no matter how many times they say they are.
Exploring how the robotic process automation (RPA) powered digital workforce looks to disrupt the manual effort intensive regulatory compliance landscape in BFS, what edge it has over its human counterpart, the roadmap towards RPA driven compliance, challenges in this digitisation journey and success mantras, and innovations that are underway towards building intelligent RPA to replicate human decision-making.
New growth estimates for prepaid are encouraging to say the least, but providers gathering in London for the Prepaid International Forum’s annual Innovation Day said the industry must remain focused on compliance and the customer proposition to safeguard its success.
This is a series of posts on a subject that plays on my mind a little – the application of disruption, and innovation, when it is related through the filter of our use of language, and our desire to seem advanced. This instalment is about social media efforts.
The right technology—the systems that encourage consumer loyalty and spending—do much more than speed up checkout. An expert explains why.
Move over prepaid cards. Mobile wallets might be be able to solve for fraud and instant delivery of benefits better than any piece of plastic.
Even as security experts lobby for tighter authentication, a study demonstrates that passwords still command the loyalty of consumers. A payments expert discusses why biometrics and other methods lag behind the warhorse of digital protection.
Payments compete for attention with “RegTech” while an overall lull in disruption suggests that fintech could be in the eye of a storm.
Anyone that picks up any business publication has no doubt read about blockchain. Conceptualised around the same time as the financial crisis in 2008, blockchain as originally conceived served as a digital ledger to publicly record cryptocurrency transactions and execute contracts.
With the release of Facebook’s Q1 2017 results, there are five things worth your attention about its strategy that are relevant for financial services. In its latest results, Facebook announced a major emphasis in solving for communities and reiterating the key messages from its F8 developer conference. Q1 2017 profit is +76.6% YoY to $3.06 […]
How two key technologies – cloud and cognitive – can aid banking transformation.
There has been a lot of rumour and speculation recently, focused around the news that Apple is working on augmented reality (AR) as its next major product. Last year, we saw how fast the take up of AR could be with the introduction of Pokémon Go that became a massive international cultural phenomenon almost overnight. Banks need to prepare sooner rather than later if they are going to take advantage of AR and not be left behind.
Spreadsheets, say some, should just fade away into the dustbin of innovations’ past, but in my opinion, they might be the best bridge between the “old way” of working and the new.
I grew up in Darwin, northern Australia and dreamt of playing hockey for my country. Today I live in Glasgow, thousands of miles away from the sunny climes of home and head up the UK operations and marketing for regtech firm Encompass.
With MoneyGram and Western Union betting that Facebook-loving consumers will use “sendbots,” the old guard of remittance providers may have an edge on startups.
Prepaid providers are at a crossroads: They can create products that carry relative high fees, or craft consumer-friendly programs that promote financial health. Here’s a case for doing the latter.
To coincide with its just released and first “Payroll Industry Scorecard,” CFSI is separating fact from fiction when it comes to payroll cards, which continue to face scrutiny by state regulators and the media.
Sure, convenience remains vital. But to reach digitally savvy consumers—including millennials—new entrants in the payments arena will need to think socially, and be ready to chat.
To the outside observer the insurance industry may look very conservative with dominant global companies and local players operating in the way they have done for years and with very little interaction with their customers. But this is changing.
You need to tell your customers you’ve been hacked. Now what?
As the payment method gains popularity, an expert explains why young consumers buying digital content, including games, and transit tickets with their phones will be keys for the future.
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
A highly fragmented sales environment along with unnecessary expenses are among the main pain points for B2B payments for air travel. Here is what needs to improve.
As major companies report success from mobile ordering, an expert shows what payment providers have to consider before taking the next step.
Cyberattacks have been dominating newspaper headlines for some time now. Whether it’s losing access to PayPal, a distributed denial of service attack on Lloyds Group, or Tesco Bank customers losing £2.5 million to hackers, the threat of a cyberattack in 2017 is so great that it’s not a case of if, but when one occurs.
This is a series of posts on a subject that plays on my mind a little – the application of disruption, and innovation, when it is related through the filter of our use of language, and our desire to seem advanced.
The Mexican market has everything—the market size, the interest and the right attitude. There is only one thing missing and that is the very fundamentals of what fintech represents.
At this week’s Smart Card Alliance Payments Summit, experts looked to mobile and transit for a view of how payments will evolve. Here is a dive into the trends that likely will keep making news in the years to come.
A drive through the emerging landscape of in-vehicle transaction projects shows a wide variety of services that could appeal to consumers and push payments forward. But there’s still work to do before automakers are off to the races.
ransaction monitoring is emerging as one of the top priorities for banks and other financial institutions. Some now employ up to three per cent of their workforce to track financial crime. But, as leadership teams look to increase the effectiveness of their processes in the face of regulatory scrutiny and reduce costs, are there lessons to be learnt from health industry and its battle against infectious diseases?
We hear a lot about how artificial intelligence (AI) has the potential to displace jobs, especially those held by women in tech, but should we also worry about a future overrun with sexist, racist machines?
Over the holiday period I saw my 17-year-old niece Katie reading an article in an engineering magazine about the lack of women in that industry. She is considering becoming an engineer.
“Mr. Watson, come here, I want to see you.” These were the first words ever spoken over a telephone line and said by the man fondly described as the father of the telephone, Alexander Graham Bell, who would have turned 170 on 3 March this year.
I’ve been a technology nerd since before it was cool. In fact, when I went to college in the mid-1970s engineering students were treated more like George McFly than Mark Zuckerberg. It wasn’t the most glamorous major to talk about. Not much has changed today when I tell people I lead an advocacy organisation in support of high frequency trading (HFT), a technology that lowers trading costs for banks, asset managers and pretty much all investors. I find the work exciting, but I do run into my share of Biff Tannens.
Differentiation with new prepaid use cases is critical as the industry consolidates and change in the wider payments world and consumer behavior accelerate. Exploiting opportunities in the prepaid market demands a modern processing technology that supports new product road maps and the ability to adapt quickly.
A deep dive into a packed panel discussion on disruption at the annual conference shows how payments providers are mapping the future with new technology, and how traditional players can endure.
Republicans have never liked the agency, but so far, their efforts to reform it and reduce its power—or eliminate it altogether—have appeared scattershot. Echoing what a former Secretary of Defense once said: Here’s what we know and what we know we don’t know about the bureau’s future.
An analysis of a real fraud situation shows that some barriers to fraud can potentially drive away valuable customers. Here’s what to do—and not to do—when criminals target your cards.
