In recent years we have seen a strong trend for institutional trading desks to leverage their data to improve trade execution results and become more recognised as active participants in portfolio performance. Two important applications of predictive analytics have arisen, both aiming to improve the manner in which trading algorithms are used and controlled. It […]
Since the global financial crisis, there has been an endemic environment of low interest rates and currency fluctuations. The effects of quantitative easing have been broadly felt by institutions across the globe; and have created major challenges for central banks, sovereign wealth funds (SWFs) and government pension funds. In addition to this, equity market declines […]
For once, the sound bites being used to describe upcoming changes in the global banking industry may actually be too conservative. The latest Payments Services Directive likely will revolutionize how consumers interact with their banks and the protection they can expect when paying online or on their mobile devices—and the effects won’t be limited to Europe.
In addition to brightening text messages and tweets, the popular icons beloved by everyone from tweens to Baby Boomers may soon serve a much more substantial purpose—mobile and payments authentication.
To harness the true power of tokenization—a technology that underlies mobile payments—banks need to change their thinking. Doing so could help boost the appeal of mobile wallets.
Retailers can cater more closely to the ever-changing needs and preferences of online shoppers if they resist falling prey to these four common misconceptions about how consumers pay.
As regulatory pressures mount, Jon Hallam of GoldenSource explains why removing the burden of data management from the shoulders of fund managers can help deliver absolute returns for investors. From investors wanting more bang for their buck to increasing regulatory reporting requirements, it’s fair to say that asset managers have had a fair bit to […]
In the face of an ever rising digital agenda in Europe, banks are jumping on the fintech bandwagon, hoping to jumpstart innovation. Technology stands today as a catalyst for change in established banking institutions, write Astrid Froidure, digital transformation lead at Open Reply, and Fausto Jori, owner of E-finance Reply. The spark comes in a […]
Why are the next generation of virtual cards the key to commercial card adoption? Alex Mifsud, CEO of Ixaris, explores the issue. Commercial cards are relatively commonplace in the business world, with companies using these cards to buy a raft of business related items, including client lunches, airline tickets & office supplies. Commercial cards come in […]
Big data is a promise. In theory, banks can now know more about every single one of their customers than ever before. There is a real opportunity for them to cement their customer relationships; to create targeted offers and personalised experiences that attract new, and retain existing, customers. UK’s retail banks have increasingly been using […]
The key to unlocking the potential of real-time money movement is the delivery of an intuitive and seamless experience across accounts. As demand grows among early adopters—underserved consumers, millennials and those in the “gig” economy—a larger, more mainstream consumer audience will take note and engage.
Sure, mobile payments are taking much of the developing world by storm, giving consumers safer and more efficient ways to handle money. But merchant acceptance lags. Here’s why, along with ideas for improvement.
Brexit likely will cause issues for major processors and cross-border acquirers for whom London has been a key European and cross-border processing hub. That’s in addition to a restricted market and reduced talent pool.
If politicians were held to the same truthfulness and disclosure standards as businesspeople, the U.K. might have avoided its regrettable decision to leave the EU.
Blockchain is disrupting the financial services (FS) industry. Deloitte recently called it one of the year’s most controversial and debated topics. Yet, despite the hundreds of millions being invested in blockchain technology by companies from all industries across the globe, there is still much confusion around how the technology works and the effects it will […]
When I first started travelling for my job, it wasn’t too afield. I was working in Australia so it involved trips to New Zealand, Singapore and not much more. However, in only a few years, my travel grew to where it became routine to visit the US, Germany and the UK, but with the aircraft […]
While the benefits of big data are well understood for compliance and fraud prevention, the technology can also deliver very useful insights into customer behaviour. Thanks to big data analytics, retail banks can monitor how customer behaviour evolves and any significant patterns that can inform which products to market and offer. In the UK, Lloyds […]
The technology world is evolving from a cathedral-like structure dominated by major technology vendors such as Oracle, Microsoft and IBM, to a bazaar-like ecosystem where new paradigms, platforms and tools emerge constantly and are adopted quickly. Though it is a cliché to say that the pace of change is accelerating in IT, it is also […]
Digital technology is increasingly seen as the key to transforming banking into a customer-focused industry befitting the modern age, and a new role of chief digital officer (CDO) has evolved to help implement this change. However, although many banks have used IT to build more customer-friendly interfaces on apps and websites, there is scope to […]
Subas Roy, director in EY’s financial services practice, explains how regtech can help and how to avoid the pitfalls. Most of the business leaders that I interact with these days often use two terms, “digital innovation” and “regulatory compliance”. I wonder if they are intrinsically linked? Indeed, successfully addressing multitude of regulatory risks can be […]
Research released late last year suggested that almost two thirds (62%) of a survey of 90 German institutional investors predict greater usage of artificial intelligence (AI) for short-term decision-making, and 17% for medium-term investment decisions. Universal Investments, the asset manager behind the research, said that “the industry’s future thus certainly appears to be closely linked […]
Flexibility and transparency are key to the first pan-European instant payments scheme, states Javier Santamaria, chairman of the European Payments Council (EPC). Currently, instant payments in Europe operate only within the borders of individual countries or among customers of the same payment service providers (PSPs). To move away from this fragmentation, the EPC was invited […]
From the future of prepaid and which mobile wallets stand to win to regulatory uncertainty and the best route to market in Europe, view our most popular opinion pieces from 2016, so far.
The latest Fed consumer research reveals why many consumers are still on the sidelines when it comes to adopting mobile financial services. Surprise: They’re scared.
While industry observers think Apple Pay adoption hasn’t yet hit a critical mass, the mass it has hit (with 1 million more users added each week) makes it a substantial alternative to the use of contactless payment cards. But more importantly, it’s what’s still to come from Apple that retailers (and others vying for mobile wallet share) can’t afford to ignore.
Tapping into the IoT trend requires financial services providers to consider the use case for each device and make sure the information and capabilities are relevant. Irrelevant information will at best be ignored and at worst lead consumers to disengage.
What it comes down to is that there’s no reason for merchants or financial institutions to live in constant fear of data breaches when there are solutions that will identify and prevent fraud attempts while also protecting the customer experience.
Call it “innovation”, “transformation” or just “business”, banks are spending time and money in the pursuit of the gear shift that will protect margins and grow revenue in the digital era. The time for big, bold moves is upon us, yet it appears that the biggest move of all is tiny: the trend towards the […]
As technology continues to proliferate in the world around us, banks are no exception. Digitalisation is revolutionising the way consumers interact with everything – companies such as Amazon, Apple, Airbnb, Netflix and Uber have transformed customer expectations and created a ripple effect across all industries. We cannot ignore the forces at work today. Across demographics, banking […]
To stay afloat in a sea of consolidation, financial organisations, including community banks and credit unions, must recognise that their customers are individuals with unique needs. Michael Boukadakis, founder and CEO of Enacomm, explains how technology can help achieve this. Algorithms have advanced, and other industries – from retail to transportation – have raised the bar […]
As our society moves to a world propelled by automation, where technology has given way to artificial intelligence, machine learning, driverless cars and delivery drones, it’s not leap of faith for technologists to consider how technological advances can play a role in banking. In fact, given the proliferation of risks and controls that banks and […]
With two thirds of people now owning a smartphone in the UK, demand is high amongst consumers to have connectivity at their fingertips. Add to this the fact that 39% of adults have at least one banking-based app, and it presents a real opportunity for banks to serve engaging content to the many consumers who are […]
“Youth is wasted on the young,” so said George Bernard Shaw. Only recently I read that this wasn’t exactly the quote he gave. To the question of what is the most beautiful thing, the Irishman responded: “Youth is the most beautiful thing in this world—and what a pity that it has to be wasted on […]
Fifteen years ago, banks were still embracing telephone banking and online payment systems were still in their infancy. At the time, the impact these systems had on the IT manager were minimal. The IT manager’s role might have been to ensure that call centres managed to peak efficiency, or to ensure that the right IT […]
Wells Fargo is poised to beat Chase Pay to the punch with a summer release of its mobile wallet. But it’s more than timing that could give the financial institution an edge in the mobile wallet competition.
Recent media reports that prepaid cards have “hidden fees” simply because card packaging doesn’t follow the format contained in the CFPB’s proposed prepaid accounts rule are misleading and misinformed. Of course, the industry is waiting for the final rule before making standardized disclosure changes.
We’ve been hearing a lot about the demise of MCX since it announced yet another launch delay of its CurrentC app to focus on deals with financial institutions. While this move is clearly a pivot for MCX, it’s way too early to call the organization dead. In fact, we should be calling MCX a roaring success.
With the dollar down and prepaid use up in Canada, the U.S.’s top trading partner presents fertile ground for expansion.
As banks, financial services providers and brands predict and plan for the way consumers will manage their money in the future, artificial intelligence (AI) is high on the business development strategy for 2016 and beyond. Gideon Hyde, co-founder of Market Gravity, explains how and why artificial intelligence (AI) could hold the key to standing out […]
As Europe’s biggest e-commerce market, the UK’s e-money and payment services industries are thriving. But with the EU referendum right around the corner, are things likely to change? Craig James, founder and CEO of Neopay, explores the potential of a Brexit-shaped disruption. On 23rd June 2016, the UK public will take to the polls for […]
