Banks today harvest and analyse massive amounts of data – but imagine what could be done with this data if banks weren’t so preoccupied with banking. To put it another way, all banks employ talented software engineers, and those engineers are able to develop applications for any market. Banks’ IT teams could easily create insurance
The digital banking revolution happening today is accelerating rapidly. The new approach emphasises software and its capabilities, and demand for digital capabilities is soaring. For example, a recent Recruiter Sentiment Survey on LinkedIn broke the news that 51% of UK financial services recruiters have experienced increased demand for applicants with experience in artificial intelligence, cryptocurrency,
In recent years it seemed the smart money was on FinTechs blowing the traditional banking powerhouses out of the water. But the banks have survived, and intend to fight back. Over recent decades, cost-reduction programmes have formed the banks’ first line of defence. But these methods can only take you so far if the competition
The concept of ‘fake news’ has become embedded in our culture in the past few years, raising doubts over the truth of reporting and photojournalism. In the age of Photoshop, unfortunately easier than ever before to edit an image, changing it’s meaning dramatically. Now, even photographic evidence isn’t enough because so many of us are
With each new Fintech that arrives on the scene, the battle that banks face to bring new customers on board is becoming ever fiercer. Previously the main selling point of a banks had been on the specific financial product that a customer is looking to buy but that is no longer the case. In such
Smartphones have been a trending topic of discussion, specifically around whether they will exist within five years, or if mobile technology will be replaced with Artificial Intelligence. With smartphones as a necessity today, it is interesting to think that they will be a thing of the past by 2021. So how will this all transpire?