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The drive for omnichannel banking

Banking consumers the world over have increasing expectations of convenience, driving one of the most common trends in banking innovation: omnichannel experiences. Modern banking reality is that consumers expect to bank whenever, wherever and on whatever device they prefer in way that is fluid and consistent across all touchpoints. Although …

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Top 7 digital transformation trends in banking

Ever since the financial crisis of 2008, the vast majority of financial institutions have sought to deliver profitability through cost cutting and efficiency measures. While these strategies have worked to varying degrees up until now, future growth will demand much more. Financial institutions need to better understand the transformative forces …

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Dawn of the neo bank

Globally, a vast army of neo banks are targeting all sorts of consumer and small-business niches – from millennial investors to dentists and franchise owners – and emerging as a huge threat to traditional financial institutions. Some experts think that, by 2025, up to 40% of financial institutions’ collective revenue …

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Is it really a digital financial institution?

As the banking sector continues its march down the digitization road, patterns have emerged that allow for an objective assessment of whether a financial institution is making serious progress on its journey toward digital. Here are 10 questions designed to get at the heart of that question: Does the financial …

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What customers want and expect in banking in 2020

Technology has changed the way we do business in every sector, and banking is no exception. Banking 2020 will be about living up to customers’ expectations without sacrificing the safety and security they need in the institutions they trust with their future. These heightened expectations have defined a number of …

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7 developments awaiting the Russian banking sector in 2020

Russia’s banking market has already proven itself to be very dynamic. But with changing regulations, new business models and new innovations coming to market, 2020 promises to be an interesting year for banking in Russia. Here are 7 trends expected to define banking in Russia this year: Ecosystems and super-apps …

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Gray swans that could disrupt the banking sector

Although there have been a myriad of changes in the banking sector that have made banking processes faster, easier and more convenient, the basic concepts behind them remain largely unchanged. But what low-likelihood, high structural impact events (gray swans) could trigger a dramatic shock to the banking sector? Here are …

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Top 22 mobile banking trends

Mobile banking is a huge demand from banking customers as well as a major piece of many financial institutions’ marketing strategies. With that in mind, Juniper Research came up with a list of 22 mobile banking trends: Open banking permits many innovative FinTech offerings to be offered to mobile customers …

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Personal finance management system evolution

Personal finance management (PFM) systems are starting to gain traction in terms of popularity, growing from a market of USD 795 million in 2016 to a project market of at least USD 1.21 billion by 2023. Currently, most PFM systems are focused on simply showing numbers to customers. To stand …

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10 artificial intelligence trends for 2020

There has been an exponential uptick in the number of platforms, applications and tools based on machine learning and artificial intelligence (AI) technologies in recent years. Here are 10 AI trends expected to dominate in 2020. Blockchain, internet of things and AI convergence – for AI to make a positive …

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6 data and analytics trends for 2020

With 2020 just around the corner, it’s important to take note of 6 new data and analytics trends. Specialization – companies are now starting to look for professionals explicitly well-versed in the kind of data they’re dealing with. Machine learning – by 2020, over 40% of all data science tasks …

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Top 7 InsurTech trends paving the way towards insurance 2.0

2019 was an exciting year for the insurance industry, with technological advancements providing fundamental changes to nearly every aspect of the business. Given that the only way insurers can remain relevant amidst such disruption is to stay ahead of the curve and adopt the technologies of tomorrow, now is a …

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6 things to expect from the internet of things in 2020

The internet of things (IoT) is becoming more prominent in today’s society, and it shows no signs of slowing down. Here are 6 likely possibilities for what will happen with IoT technology in 2020. Becoming a part of more retail stores – IoT already powers numerous kinds of retail technologies. …

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Top cybersecurity threats for the banking industry in 2020

Cybersecurity is one of the biggest concerns that financial institutions have today, especially with increased digitization exposing them to greater risks from hackers. Here are the top cybersecurity risks for financial institutions in 2020. Mobile and web banking – while apps and online banking make it easy for consumers to …

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11 Big Data trends for 2020

Given that the Big Data market is projected to become a more lucrative field in the coming years, it seems only too appropriate to take a quick look at the 11 most important Big Data trends driving the current landscape. Digital transformation waves – digital transformation (including the internet of …

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Cybersecurity and banking: 3 trends to watch in 2020

The threat of financial losses, regulatory consequences and reputational damage has spurred financial institutions to innovate and accelerate in the field of cybersecurity. However, the intersection of cybersecurity and banking can feel like a major battle. As soon as one vulnerability is addressed, another is created. Combine this with the …

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Human-bot interactions: the next frontier of FinTech

With technological growth accelerating at a pace never seen before, virtual assistants powered by artificial intelligence are becoming as commonplace as smartphones. In fact, an estimated 2.5 billion people worldwide use virtual assistants, a figure expected to hit 8 billion within the next 4 years. With such advances in human-bot …

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Top 10 digital transformation trends shaping 2020

Digital transformation continues to be a gamechanger in many industries around the world, including the financial industry. Given its importance in shaping our future, it is worth taking a quick look at 10 of the most significant digital trends expected to define 2020: Consumer experience connections – the consumer experience …

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5 key takeaways from Money20/20

Money20/20 was held earlier this year in Las Vegas. Here are 5 key takeaways from the event: The distinguishing lines between merchants and FinTechs continue to blur –  Uber created a team called Uber Money that will be responsible for its various FinTech offerings. And now Amazon is enabling utilities …

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