Digital takes innovation to the next level

Since its inception, the BAI Global Banking Innovation Awards has recognized innovation excellence that delivers actionable results in financial institutions across the globe. Each year, there has been an increase in the level of innovation in terms of the volume of new initiatives, the sophistication of approaches and the impact on consumers. Innovation doesn’t happen overnight after Read More

By |2020-05-27T18:00:08-05:00July 25th, 2016|Comments Off on Digital takes innovation to the next level

Time to change out legacy systems

Historically, financial institutions have adopted technology with a best-of-breed approach, utilizing different platforms from different vendors. This is especially true in check processing, where multiple platforms are leveraged to support a single financial transaction or payment type. The end result is multiple platforms, multiple vendors, multiple support resources – and multiple headaches.To process a single check, a Read More

By |2020-05-27T18:00:08-05:00July 19th, 2016|Comments Off on Time to change out legacy systems

Automating loan decisions for small businesses

It’s no secret that small business loans historically offer small profit; in fact, there is little economic difference in funding a $100,000 loan versus a $1 million loan. However, even though these loans may not always be the biggest movers to a bank’s bottom line, this type of lending is essential to establishing and building lasting relationships Read More

By |2020-05-27T18:00:08-05:00July 15th, 2016|Comments Off on Automating loan decisions for small businesses

Responsive design for digital banking

Having a world-class digital banking experience across any device is imperative today, where nine out of ten U.S. adults regularly use some form of online banking and more than half of them access their banks’ websites or applications via their mobile device, according to a recent report from Mercator Advisory Group. With the proliferation of mobile devices Read More

By |2020-05-27T18:00:09-05:00June 28th, 2016|Comments Off on Responsive design for digital banking

Enforcing technology strategy by the CEO

It used to be that bank CEOs wore their lack of technology expertise as a badge of honor: “Hey, I came up through the lofty halls of Credit; I don’t need to know anything about technology.” However, times change. Now that product delivery, service, underwriting, sales execution and marketing are all inextricably attached to technology, today’s CEOs Read More

By |2020-05-27T18:00:09-05:00June 17th, 2016|Comments Off on Enforcing technology strategy by the CEO

Digital newcomers push traditional banks to improve

Startup financial technology (FinTech) companies may be the best thing to happen to traditional banks in a long time. No, really.Many have warned that the introduction of digitally savvy options into a traditional market can be disastrous. After all, just look at what Uber is doing to the taxi business. In a heavyweight match between traditional banks Read More

By |2020-05-27T18:00:09-05:00June 13th, 2016|Comments Off on Digital newcomers push traditional banks to improve

ValueWeb and the new age of finance

Money originated as a control mechanism for governments of ancient Sumer to control farmers, based upon shared beliefs. It was then structured during the Industrial Revolution into government-backed institutions, banks, which could issue paper notes and checks that would be as acceptable as gold or coinage, based upon these shared beliefs. We share a belief in banks, Read More

By |2020-05-27T18:00:10-05:00June 10th, 2016|Comments Off on ValueWeb and the new age of finance

A closer look at alternative lenders

Over the past year, the alternative lending industry has taken several steps forward and, then, a big leap backward. The most notable step forward centers on the relationship between OnDeck Capital and JPMorgan Chase & Co. Chase now leverages OnDeck’s technology for its small business loans. This relationship, among others, has helped to focus senior bank managers Read More

By |2020-05-27T18:00:10-05:00June 3rd, 2016|Comments Off on A closer look at alternative lenders

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

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