Banking

It is expected that AI will be the next big thing in finance, changing how we do everyday transactions.

A variety of financial institutions have turned from words to actions, adopting ML/AI in various areas of operations.

A new wave of biometric technologies is poised to change the cybersecurity landscape forever, leaving legacy technologies like OTPs in the dust.

Apart from startups, many banks have been exploring blockchain in some way or the other.

Prove’s Phone-Centric Identity technology can improve your identity verification strategies to make your customer experiences safer, faster, and easier.

Identity tokenization can elevate digital servicing by improving customer service while respecting data privacy.

Regulatory environments globally are becoming increasingly complex – 300+ million pages of regulatory documents will be published by 2020, and 600+ legislative initiatives need to be cataloged by a medium-sized, sell-side institution to have a holistic view of their rulebook.

Biometrics are playing an increasingly critical role in securing the rapidly growing number of digital transactions worldwide.

Westpac has partnered with Hey You, a mobile coffee ordering outfit, to give customers a $5 Hey You credit to use at participating businesses.

Financial institutions are now using ‘pop-up branches’ to test new permanent locations, provide low-cost transactional support, and implement special event engagement.

While a better banking experience has been the mantra for challenger banks, diversity in operating models and customer journeys specific to target segments pose barriers to their growth.

One of the problems with extending financial access is the lens through which the formal financial system assesses previously invisible groups of the global population.