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Technology

Technology and Banking Transformation

Is there a right way and wrong way to innovate? For banks interested in transforming their brick-and-mortar branches, maybe, according to Diebold Nixdorf Senior Director of Advisory Services Chris Gill.

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Is It Viable to Have a Cashless Society? 

In most countries around the world, cash is still the most accepted form of payment. In America 70 of retail transactions are still made with cash, according to a recent study by the Pew Research center, but in some countries, Sweden for example, only 13 of transactions are paid this way.

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New Blockchain Technology From IBM to Help Credit Unions

Blockchain is a revolutionary technology which is celebrated by many. It has significantly impacted many industries. The uses, benefits, and next steps of the technology are being discussed in the ongoing Blockchain Week NYC. IBM just signed a new partnership deal with CULedger.

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Big Data – The Budget Myth

Many IT departments dive into a big data implementation by budgeting only for hardware and software. Little do they realize that the future viability of their solution depends upon effective budgeting for other items. Budget for Scaling Big data solutions do not scale the way that typical operational systems do.

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Industry

Smaller Banks, Fintech and the Customer Experience

Each year, financial institutions adopt new innovations to continue appealing to consumer demands for faster, simplified service experiences. A 2018 executive survey by NewVantage found that nearly 80 percent of top executives fear that their firms are at risk of disruption and displacement from highly-competitive, technology-driven firms.

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How Often Should I Use My Credit Card?

Depending on the issuer, your credit card could be closed after just three months of inactivity. By Casey Bond, Contributor |March 14, 2019, at 9:00 a.m. How Often Should I Use My Credit Card? You probably know the importance of using your credit card within responsible limits and paying the bill on time every month.

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A Look at Data Analytics in the Financial Services Industry: Use Cases and Challenges

As global fraud continues to grow, data analytics is being used as the secret weapon of financial institutions. Yet there are still challenges ahead for data analytics in financial services. False positives have lead to banks blocking legitimate customer transactions.

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Credit Card Rewards: Easy but Not Cheap

You can’t argue that credit card rewards stimulate spending after almost 35 years since Citi’s American Airlines AAdvantage test, but they come at a price. Some will argue that the best programs come with higher fees. Others argue that they are a losing proposition for credit card revolvers, but at least for now, they are […]

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Regional

Future-proofing Your Business in the Evolving Brazilian Payments Market

Brazil is the ninth largest economy in the world, but its payments market has always been regarded as extremely concentrated. This is not surprising considering the majority of debit and credit cards in circulation were issued by four major banks, and 9 in 10 cards were either Visa or Mastercard, until 2007.

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5 Factors Accelerating Growth of FinTechs in Asia

4 min read Opinions expressed by Entrepreneur contributors are their own. The Asian market is extremely vibrant and attractive. High smartphone penetration and high internet speeds mean that barriers to operate and engage have been reduced. Most Asians are significantly financially literate.

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Digital Lending – Revolutionizing the Loan Market in India

4 min read Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.

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Fintech Needs a Strong Identity

Many transactions do not need to establish the identity of involved parties. In fact, some may even demand anonymity. However, establishing identities is necessary for delivering and accessing most financial products and services.

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Regulatory

Keeping P2P Payments Fraud-Free

In today’s digital payments ecosystem, businesses, banks and consumers alike want access to their money as fast as possible. While person-to-person (P2P) payment solutions and real-time payment platforms are making the quick exchange of funds possible, fraudsters also see an opening to exploit these systems’ vulnerabilities.

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35% of Transactions Are Terminated When Site Requires Account Creation

More than one third ( 35) of transactions are lost when an e-Commerce site requires customers to create an account before purchasing. Retailers must balance their desire to gather customer data with this loss of sales revenue – as well as the annoyance factor that may keep shoppers from coming back.

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Cashless Trend Becoming a Crisis Debate in UK, US

The rise in mobile payments technology and the related pressure being placed on legacy banking systems is threatening the financial stability of millions of people in the U.K. and the U.S., experts say, as bank branches and ATM’s begin to pull back from unprofitable areas and retailers increasingly move away from cash. A report in […]

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KRA Targets Gamblers, Mobile Payments

KRA targets gamblers, mobile payments Wednesday March 13 2019 In Summary KRA commissioner-general John Njiraini Tuesday said it is proposing to introduce a 10 percent excise duty on betting in the forthcoming national budget.

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