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Tag Archives: Digital Banking

Infographic: cybersecurity drivers

In today’s digital world, cybersecurity is not just a luxury; it’s a necessity. This is especially true in the financial services industry, a popular target for major cyber-attacks in recent years. Here’s an overarching view of the cyber landscape, its main threats and security controls and considerations.   Revolut plans …

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How FinTechs are helping refugees and immigrants

FinTechs have traditionally worked to provide financial services to the unbanked and underbanked. This is especially important today with the increase in the number of refugees and immigrants. Perhaps the most difficult thing for any refugee or immigrant to do when attempting to establish a life in a new country …

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How FinTech is helping the unbanked and underbanked

For many around the world (especially those in rural areas), access to financial services represents a major problem; however, FinTech is bridging that gap and helping more and more consumers access them. Here a few ways FinTech is helping the unbanked and underbanked access financial services in 2018: Online lending …

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Infographic: banking the unbanked, a USD 380 billion opportunity

Despite financial inclusion being a key driver for tackling poverty and boosting economic growth, there are billions of people worldwide that do not have reliable access to financial services. This infographic breaks down where the best opportunities to increase access to financial services for the “unbanked” are. FinTech in a …

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How should financial institutions react to uberization?

The volume of information in the world is increasing exponentially, and it is becoming difficult for consumers to analyze it all. For this reason, they are turning to mediator platforms to help them sort through it. For example, to find a hotel, consumers do not visit each hotel’s site individually, …

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Uberization turning the banking business model upside down

Today, customer experience is measured by how much friction is removed, with the new standard being asking Alexa to order an Uber (which arrives in near real-time). For financial institutions to evolve to this new reality, they need to shift their focus from just the experience to also include consumers’ …

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Russia expecting an uberized mortgage market

As Russian financial institutions increasingly offer consumers more and more mobile services, the process of obtaining a mortgage will also become faster and less stressful. In fact some, including Deputy Chairman of the Board at Absolut Bank, believe that obtaining a mortgage will become as simple as calling for a …

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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. PAYMO developing Uzbek financial marketplace 8 in 10 millennials ready to switch away from banks RegTech requires a more collaborative effort

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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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