International

There has (rightfully) been a lot of talk this year about digitization in the financial sector, with the COVID-19 pandemic drastically accelerating the development and implementation of digital solutions in financial institutions. This has been somewhat of a challenge for financial institutions as they seek to balance the need for …

Deloitte has released its Digital Banking Maturity 2020 report. This is the 4th edition of the report, which is the largest global benchmarking effort of digital retail banking channels. It provides a comprehensive outside-in assessment of 318 financial institutions from 39 countries, analyzing their digital channels and discussing likely future …

When the COVID-19 pandemic first hit, financial institutions rushed to digitize both their internal processes and their consumer-facing services in order to provide consumers with reliable products and services in a new and uncharted reality. However, in their haste to digitize, many financial institutions may have unknowingly created security holes …

Markswebb has published its Internet Banking Rank 2020 report, which explores how an online financial institution for individuals can be developed to bring value to consumers and cope with new challenges (including the current COVID-19 challenges). This includes an investigation of how consumer behaviors are changing, what activities are the …

The COVID-19 pandemic has dramatically reshaped our world in only a few short months. In the world of banking, this has led to an increased focus on digitalization. This trend is perhaps best illuminated in a recent survey conducted by card issuing platform Marqeta, as outlined in this enlightening infographic. …

Most people today maintain an active lifestyle that is defined by a routine or set of routines. Moreover, more and more aspects of life are continuing to become part of our lifestyles, and banking is no different. As the idea of banking evolves from a simply-structured financial organization focused on …

Artificial intelligence (AI) is becoming an increasingly common tool used by financial institutions across the world. Take a quick look at how they are putting AI to use, what risks this carries and what state regulating bodies can do to foster the further development of AI in banking. Citi opens …

Financial inclusion (or the lack thereof) is an ever-present issue, even in the modern world. In fact, an estimated 1.7 billion do not have reliable access to a bank account or other simple banking services. This forces them to turn to alternative institutions that charge high fees, trapping them in …

Central bank digital currencies (CBDCs) are being explored and, in some cases, piloted by central banks around the world. To become a contributing part of our future world however, they must be paired with an extremely resilient, secure and performant infrastructure that has the ability to onboard, authenticate and support …

Deutsche Bank Wealth Management has released a new special report on central bank digital currencies (CBDCs). The report highlights how CBDCs could fundamentally change all financial relationships by, essentially, making governments the main intermediaries between all financial transactions. While this could serve to increase transaction speed, security and transparency (thereby …

A new working paper from the Bank for International Settlements (BIS) examined the state of various central bank digital currency (CBDC) projects around the world to see what their statuses are. Interestingly, 3 countries (Ecuador, Ukraine and Uruguay) have already completed retail CBDC pilots, and 6 (the Bahamas, Cambodia, China, …

New research recently published by the Bank for International Settlements (BIS) includes a detailed analysis of 32 various projects around the world related to the design, development and launch of central bank-issued digital currencies. Perhaps the most interesting fact unveiled by the research is that none of the 32 projects …

A new report from the Bank for International Settlements (BIS) shows that public interest behind central bank digital currencies (CBDCs) is quickly gaining traction around the world, even outpacing that of Bitcoin and Facebook’s Libra. Analysts at BIS believe the sudden public interest in CBDCs is due to a number …

With China set to pilot its new central bank digital currency (CBDC) in select areas across its territory, it is poised to become the first nation in the world with a sovereign digital currency. But what exactly is a CBDC? How does it work? And what’s the difference between a …

The idea of developing and implementing a central bank digital currency (CBDC) is gaining traction in governments around the world. Take a quick glance of the benefits of a CBDC in this illuminating infographic. FinTech’s impact on cyber response and recovery EY report: Fintech penetration rates around the world Video: …

Taking place as part of Ethereal Virtual Summit 2020, Michael del Castillo of Forbes hosts an enlightening discussion on central bank digital currencies in the age of COVID-19 with guests Peter Munnings of Adhara and Shailee Adinolfi of ConsenSys. Russian bank “Открытие” to use facial biometrics analysis in its branches …

While social media companies are great at determining what gets our attention, financial institutions know what opens our wallets. Now, Big Data offers a way to combine these two forces (and more) to allow financial institutions to better deliver on their core promise of listening to consumers and creating products …

Big Data is one of the biggest trends happening right now in the financial services industry, with nearly every player understanding the need to leverage analytics garnered from an ever-increasing number of data sources to survive. That being said, let’s look at 10 of the biggest Big Data challenges and …

The financial services industry is changing at an unprecedented pace. Let’s take a quick look at the role of Big Data in this time of extraordinary change: Risk modeling and management – adopting Big Data analytics helps build more effective risk models and propose new methods to mitigate risks. Consumer …

Understanding complex and interdependent financial systems has long been the proverbial pot of gold at the end of the rainbow. The sheer volume of data involved, the administrative burden of maintaining and processing historical records and the high resources needed to exploit and make sense of an ever-growing lake data …