Banking & Financial Services

Chatbots in Banking: The Reality Behind the Hype

Technology advancements continually disrupt the banking landscape. Amidst the upheaval, chatbots are rising as the latest wave of digital disruption. Chatbots, also known as conversational agents or virtual assistants, are shaping the customer experience, and transforming the back-end operations of banks in an unprecedented manner. Looking at the staggering rate of chatbot adoption, MarketWatch suggests 

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Simplifying Trade Finance with Intelligent Document Automation

For most businesses today, tracking files is a huge challenge. A report from the Association for Information and Image Management (AIIM) states that about 55% of organizations globally want to decrease the amount of paper flowing through their processes. Though 40% of the organizations reported that more than half of their invoices were being delivered 

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The AI Way to a Superior Personalized Customer Experience

Personalization and Timing to Improve Customer Relationships Businesses are always looking for ingenious ways to improve customer service. According to a recent Forbes survey, 70% of buying decisions are influenced by how clients feel they are being treated; therefore, a superior personalized customer experience goes a long way toward getting the numbers up. Exceptional service 

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Intelligent Automation in Corporate Banking

Banks and financial institutions (BFSI) continue to invest heavily in intelligent automation technologies to meet the ever-increasing demand for speed and personalized service from tech-savvy corporate banking clients while complying with the barrage of compliance and regulatory restrictions that govern them. Intelligent automation technologies combine the power of robotics process automation (RPA) with artificial intelligence 

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The Art of the New Era: Commercial Banking Driven by AI and Data Science

Banks’ AI and data science capabilities should help corporations achieve the goals of meeting liquidity goals and working capital needs and increasing business margins. The ever-growing business needs of the corporations will require new banking products and services, and data science is the key to fulfill next-generation corporate customer needs. Satisfied customers would bring in 

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Community Banking in the Digital Era

This blog looks at the strengths of smaller regional and community banks that have a strong local presence in their respective markets and how they can use digital technologies to further their competitive advantages. Based on these advantages, they should choose digital technologies that enhance the bank’s positioning as integral to the community. Additionally, these 

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Open Banking: Strategies and Implementation

Banking will change dramatically with the advent of open banking. Customers, banks, and FinTechs will all benefit from its global implementation. The European Union, as well as the United States, Hong Kong, India and other countries, has already come up with the implementation framework and thought papers to implement open banking. PSD2, GDPR, open API 

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How To Give Mobile Banking More Curb Appeal

The days when banks and credit unions could get away with a mobile banking app that did little more than show balances and transaction histories are over. Today financial marketers’ approach to the mobile channel must be centered on consumers, not on products. Quite simply, banking providers must personalize the experience. Innovative offerings and delivering 

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Eliminating Analysis Paralysis from GRC

The words Governance, Risk, and Compliance (GRC) carry a sense of reverence and anticipation for financial services stakeholders globally. This reaction makes sense given the regulatory history that we as a global economy have endured. The idea that controls may change, reminds us that we struggle to adhere to routine in an already overcomplicated business 

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Battling Regulations – How Banks can Navigate PSD2 and GDPR

Many banks still recovering from the impact of digital disruption, yet now are having to contend with two new game-changing regulations in the shape of Open Banking/Payment Services Directive-Revised(PSD2) in January 2018 and General Data Protection Regulation(GDPR) in May 2018. The challenge to adapt to both and still maintain a profitable business can be overwhelming 

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Five Steps to Customer-Centric Product Pricing

The digital age has changed the battlefield for banks. They face disruption from fintechs, and the challenge of tech heavyweights like Amazon entering the financial services field emphasises issues around banks’ aging infrastructure. All of these problems must be navigated whilst ensuring continued profitability. Yet, as boardrooms focus on employing digital innovation to their advantage, 

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Future Proofing Banking

In an article published by Reuters in November 2017, the Bank of England stated that banks may be underestimating the fintech threat. Today, fintech firms and alternative providers are encroaching into every function of the bank. These new kids on the block specialise in specific processes or use cases and are leveraging banks as a 

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