Banking

As incumbent companies continue to maneuver the demands of consumers, many of them are betting on a tech/mobile-forward approach to help retain satisfied users.

With the rising bar of customer expectations, the need for faster, safer, and highly personalized solutions in personal finance management grows beyond measure.

With effect from January 13, 2018, the EU member states implemented PSD2 in their national regulations.

On June 28, 2019, the Monetary Authority of Singapore (MAS) announced that it would issue up to five new digital-only bank licenses.

Cloud and mobility are enabling the next generation of banking and commerce experiences. Cardless ATMs and withdrawing cash without cards are great examples of such innovations.

The rise of the ever-growing relationship between technology and financial services is bringing significant changes to the banking industry, which is becoming a battleground where competition is developing to be increasingly multifaceted.

Digital banking has gone mainstream, but it has become the only point of contact between banks and their customers in many cases.

While financial institutions are still in the early stages of adopting AI technologies, intelligent machines are expected to become the most defining for the future of institutions in the financial services and insurance industries.

A transformation in the banking industry was due – and neobanks are bringing that transformation.

Banking has now become data-driven, and service delivery channels have been digital for the most part.

Monese is a UK-based startup that targets immigrants who experience daunting tasks in opening a UK bank account as a foreigner.

As reported by Aite Group, only 32% of more than 1,000 US companies indicated they used mobile banking services.