innovation

Don’t Be Too Quick to Give Up on Tech

A common response to emerging technology is for bankers to test it. Yet the problem with testing technology is that it is just a test, a false implementation. A test is not designed for reality and it can lead to false results. For example, I remember a U.K.

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6 B2B Companies Using Digital Payments to Disrupt

Digital payments are no longer just the bailiwick of major global initiatives. They are becoming a critical aspect of nearly every new service that providers bring to the table for merchants or financial institutions.

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Is China Leading the Blockchain Innovation Race?

According to the report by Jingdata, a research institution focusing on blockchain development in China, the amount of financing on blockchain-related projects in January 2018 in China has already reached RMB 681 million (USD 100 million), overtaking the record total of RMB 468 million (USD 70 million) in 2016.

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Banks Stand to Reap $512 Billion Revenue Boost From ‘Intelligent Automation’

With banks the world over exploring the business case for AI and robotic automation, a new report estimates that hundreds of a billions of dollars in additional revenue may be up for grabs as the focus moves away from costs savings to income generation.

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PODCAST: 5 Ways Banks Can Break ‘Digital Gridlock’

In this podcast, John Best, author of “Breaking Digital Gridlock”, explains the obstacles banks hit when they try to innovate and how to overcome them.

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How FinTech Initiatives Are Driving Financial Services Innovation

It was on this date, July 11, in the year 1804 in Weehawken, New Jersey, that Alexander Hamilton, architect of the American financial system, met his fate at the hands of Aaron Burr. Some would argue that the financial services industry has changed very little since then.

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Convenience and Control Continue to Steer Payments Innovation

Bank of America Merrill Lynch (BAML) became the latest bank to upgrade its mobile banking technology this week, adding fingerprint and facial recognition functionality to its CashPro mobile banking platform.

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Mid-Year 2018: Payment Execs Map Out What’s Next

The world is getting faster these days. Change happens at the speed of, well, if not light, then sound. The information deluge is constant. Commerce is constant. Payments and financial services? Always on, too, and always in demand. There’s no such thing as bankers’ hours anymore.

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FIs Beef Up Loyalty and Digital Wallet Features

As digital banking and payments become mainstream, financial institutions (FIs) are stepping up their efforts to improve customer engagement (CE). The moves comes as consumers expect excellent product experiences as compelling new business models and product-level innovations come to market.

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Why 80 Percent of Top FI Performers Put User Engagement First

What does offering top-notch customer experience mean in the digital age? As recent research from PYMNTS reveals, the most innovative FIs know that providing exceptional service to their consumer base comes down to focusing on three key components: user experience, digital technology and data analytics.

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SLIDESHOW: 9 Tech Challenges Facing Banks

A host of different factors are intersecting to subtly but distinctly change the way the banking industry will operate in the near future. Demographic shifts are feeding new customer expectations, which are in turn creating an opening in the market for nonbank competitors and upstart firms.

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The Innovation Strategy Banks Should Avoid

As banks compete simultaneously with traditional peers, financial technology upstarts and big technology players such as Amazon, the industrywide mantra is that they must become technology companies to survive.

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