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Tag Archives: Digital Banking

OPPA e-wallet enters Georgian digital market

A new electronic wallet (e-wallet) – OPPA – has entered the Georgian digital market. The OPPA brand was created by JSO OPPA (formerly Nova Technology), which operates the PayBox payment terminals and manages online payments pages through its website. Through the OPPA e-wallet, the company hopes to introduce a modern …

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Innovative solution for investments in Kazakhstan

The National Bank of Kazakhstan has implemented the new ‘Invest Online’ system, an innovative solution designed to operate as a simple, free tool for individuals to invest their money in the National Bank. The system works nonstop (24 hours/day, 7 days/week) and allows users to purchase fully-guaranteed securities from the …

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Alfa-Bank launches new international marketplace platform

Alfa-Bank has launched Alfa Network, a Russian-language marketplace platform, in Russia, Kazakhstan and Belarus. Alfa Network allows users to post and find offers for trade transactions, buy and sell assets (including real estate), attract investments and make investments. Alfa-Bank also offers users a number of additional services, such as consultation …

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Infographic:Bank-as-a-Service (BaaS)

In the modern world, most people are familiar with the ‘Software-as-a-Service’ (SaaS) concept, whereby app services are pay-as-you-use rather than being bought outright. These services used to cost a fortune but are now free or nearly free. And that’s where banking is heading. Banking is becoming a series of plug …

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Video: the ‘bank as a platform’ approach

Find out how adopting the ‘bank as a platform’ approach will help banks shift to a model of service offerings and achieve greater and more sustainable economic value. Monobank: a mobile bank with no physical branches Online lending in Kazakhstan expected to grow 200-300% in 2018 VTB Group and GenerationS …

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Central Asia SME Banking Club Conference 2018

SME Banking Club will host an international conference October 18-19, 2018 in Almaty. The conference, aimed at stimulating the development of the SME banking segment, includes representatives from more than 90 financial organizations as well as 48 international speakers. There will also be master classes offered in selected areas of …

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The importance of getting digital onboarding right

According to the 2018 J.D. Power Retail Banking Satisfaction Study, digital-only customers rank as the least satisfied group of financial institution customers. These findings are, however, not necessarily a validation that customers want physical branches as much as they are a sign that many financial institutions are not doing an …

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Improving the financial customer experience

Customer experience involves the sum of all interactions a customer has along his/her journey with a financial institution. Financial institutions that provide an ideal customer experience increase customer loyalty and satisfaction. And in the modern digital age of an abundance of options, this has never been more important for financial …

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How digital banks are raising the bar for customer experience

Digital-only challenger financial institutions have changed customer expectations, including customer service and how customers want to use financial products. They have shown us what is possible with a nimble, tech-driven financial institution. Here are three ways digital-only financial institutions are responding to customer expectations better than their traditional counterparts: Building …

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The role of video technology in tomorrow’s branches

When it comes to branch transformation, many financial institutions find themselves walking a fine line between the cost and efficiency savings of self-service solutions and the more personal, friendly service that only a human teller or advisor can provide. While many banks are keen to move transaction activities such as …

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The importance of the customer experience in banking

Customer experience is pivotal for growth in the banking industry. In fact, one of the most pervasive market challenges in banking is customer centricity and how to transform this focus on the customer into a modern program that can attract and grow a customer base in a rapidly evolving ecosystem. …

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Consumers prefer branches over digital for banking advice

A recent study has found that banking consumers are happy to make use of digital interactions for quick, simple transactions; however, 77% prefer human face-to-face interactions for more substantive discussions with their financial institutions. Even for young adults (age 18-29), who use mobile banking at a rate of 75%, 74% still …

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Despite new technology, customers still open accounts at branches

Most predictions hold that the future of banking is digital, and financial institutions of every size now offer customers digital ways of opening accounts. Yet according to a new J.D. Power retail banking survey, most customers (even millennials) prefer opening an account at a physical branch. This is due to …

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Russian bank launches app to teach children about finances

Russia’s Post Bank has introduced a mobile app for children aged 8-14 as a way of teaching them how to make educated financial decisions. The app allows the children to collect money, shop online and make payments, with distant control measures offered to their parents. The app is based on …

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POPin Video Banking and MEA announce collaboration

US-based POPin Video Banking has teamed with mobile firm MEA Financial Enterprises to integrate the POPin platform into MEA’s Android and iOS digital banking applications. According to POPin, the partnership will allow banks using MEA applications to leverage video banking capabilities to expand services outside of branches on personal mobile …

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Digital banks provide better service than traditional ones

According to FIS, British digital banks outperform traditional ones when it comes to overall customer satisfaction. In a survey of more than 1,000 customers, 76% of digital bank customers said they were “very satisfied” with their financial institution, whereas only 69% of customers of the top 50 banks said the …

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Corporate banking in Russia heading towards the digital

Much attention has been given to the fact that Russia is considered as a top 5 country in terms of digital banking in Europe. Until now, however, most of this digital attention has been placed on the retail segment of banking. Now, many Russian banks are starting to work on …

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Digital banking: the future needing to be built today

With people spending an increasing amount of time in digital space and starting to use electronic money more often, the relationship between financial institutions and their customers is changing. Traditionally, financial institutions worked, essentially, around cash-based services that were provided through one channel: the branch. Financial institutions, growing with the …

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