Minimizing problems in legacy software

The financial services industry is evolving at an exponential rate in this age of digital transformation. Shifting customer expectations, disruptive technology and demanding regulatory requirements are constantly reshaping the sector. Many banks are finding that their current infrastructure and platforms are simply not capable of supporting the proliferation of user-centric, omnichannel and omnipresent capabilities that customers have Read More

By |2020-05-27T18:00:10-05:00June 7th, 2016|Comments Off on Minimizing problems in legacy software

FinTech property rights and banks

It’s an odd paradox: the financial services industry spends millions on title searches and title insurance each year, but has not been quite as diligent in exploring who actually owns the intellectual property behind its mission-critical technology. Granted, bank exposures are somewhat mitigated through contractual indemnification and warranties. However, as the industry continues to use more non-traditional vendors Read More

By |2020-05-27T18:00:10-05:00May 31st, 2016|Comments Off on FinTech property rights and banks

Enhancing mobile wallets with beaming technology

Despite all the excitement around mobile payments and mobile wallets, consumer adoption has been disappointingly slow. One reason is that current payment apps don’t enable “non-cash” payments and promotions, which reduce the customer incentive and benefit to use them. The value of storing credit and debit cards on a mobile wallet is obvious, but today’s mobile payment Read More

By |2020-05-27T18:00:10-05:00May 24th, 2016|Comments Off on Enhancing mobile wallets with beaming technology

Transforming branch staff with predictive analytics

In recent years, banks have been focused on driving costs out of the branch network with self-service technology, branch closures and staff reductions. Yet, there is a genuine risk that driving any more cost out of the branches with across-the-board staff cuts will drive customers out of the bank altogether.“Workforce is the lifeblood of any organization,” according Read More

By |2020-05-27T18:00:10-05:00May 15th, 2016|Comments Off on Transforming branch staff with predictive analytics

Six ways to capitalize on the internet of things

$1.3 trillion: a massive sum, which represents the increased revenues and lower costs that will be created by the Internet of Things (IoT) between 2013 and 2022 in the financial services industry alone, according to Cisco. When you consider the financial opportunity in tandem with the possibilities that IoT offers to gather and disseminate information from an Read More

By |2020-05-27T18:00:11-05:00May 10th, 2016|Comments Off on Six ways to capitalize on the internet of things

Five strategies for competing with FinTechs

Financial technology (FinTech) start-ups are bringing noticeable competition to the financial industry’s traditional retail and investment banks. What differentiates them from traditional banks is their agility in addressing specific pain points such as payments, loans, mortgages, personal finance and remittance at speeds and pricing that is difficult for traditional banks to match. Like Uber for taxis, Netflix Read More

By |2020-05-27T18:00:11-05:00May 9th, 2016|Comments Off on Five strategies for competing with FinTechs

Cost considerations of technology choices

When it comes to selecting technology solutions and services, do banks pursue opportunities that sacrifice quality? It might be an unpopular opinion, but many times the answer is “yes.”Those financial institutions that take the least-costly route are often the same ones that have compliance issues, bad audits, technology performance issues and upset customers within a year, all Read More

By |2020-05-27T18:00:11-05:00May 4th, 2016|Comments Off on Cost considerations of technology choices

Managing exceptions more efficiently

Exceptions are part of every operation in all businesses, but they are a source of particular concern for financial institutions (FIs). Regulatory examinations concentrate on exceptions to regulatory requirements and exceptions to best practices. The fiduciary responsibility that banks have concerning their clients’ money means that operational exceptions carry risk for financial liability and brand integrity. Exceptions Read More

By |2020-05-27T18:00:11-05:00May 3rd, 2016|Comments Off on Managing exceptions more efficiently

Flexible options for cloud computing migration

When it comes to cloud adoption by financial institutions, it’s no secret that the transition to the cloud has come at a slower rate for financial services than for other industries thanks to rigorous data security policies and stringent regulatory requirements. However, pressures to renew banking’s existing technology and applications because of shrinking margins and the emergence Read More

By |2020-05-27T18:00:11-05:00April 27th, 2016|Comments Off on Flexible options for cloud computing migration

Three technology innovations to change banking

In 2015, retail banking startups raised $6.8 billion in funding, more than three times the amount raised in 2014 according to CB Insights, showing a significant investment in financial technology (FinTech) innovation. Several areas of developing technologies, specifically biometrics, artificial intelligence and wearables, are poised to revolutionize everyday financial activities in the near future.Biometrics. Security is a Read More

By |2020-05-27T18:00:11-05:00April 26th, 2016|Comments Off on Three technology innovations to change banking