Mining bitcoin and the like demands more and more power for juggernaut computers. And gives central governments leverage over decentralized currencies.
While bankers often criticize alternative lenders for unfair pricing, bottom fishing and irrelevance to the overall loan market, the smart ones should take a closer look.
To compete effectively with FinTech startups, banks need to leverage their historical strengths with customers, form dedicated innovation teams and let mobile lead the way.
Financial technology innovations likely to transform banking include biometrics, artificial intelligence and wearables.
Mitek’s Mobile Verify captured the BAI Innovation Showcase Award at BAI Payments Connect 2016 for automating ID authentication to boost mobile account opening success rates.
Innovation in retail financial services is alive and well as leaders in every region of the world recognize the need for change to better serve customers by building innovative cultures.
Digital transformation is complex for any bank but the complexity can be reduced by focusing on incrementally connecting the customer experience across channels.
Bankers often are criticized for being digital dinosaurs, but there’s a valid reason for them not embracing disruptive change: customers don’t want it.