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Building Trust in Mobile Banking

Today’s financial landscape is very different to that of yesteryear. Countless new business practices, regulations, and compliance procedures have emerged, while technological innovation has rapidly changed business models and operational processes.

Adding the development of remote solutions and growing numbers of businesses are realising the necessity of, not just being online but providing a first-class digital experience.

But how do banks ensure customers feel their information is safe with a lack of human interaction? Here, we will explore how institutions can build trust in mobile banking.

Best Practices for Implementing AI in Banking

Artificial intelligence technologies are increasingly integral to the world we live in and many large financial institutions have already started using AI.

The promises of AI are great, but understanding the considerations needed to build and implement AI within an organisation is challenging. Here, we explore how one would go about implementing AI in banking.

The Future of Onboarding for High Street Banks

According to a 2020 survey conducted by Bankrate, the average adult uses the same primary bank account for just over 14 years.

In these days of new account and switching bonuses, this stat seems incredible, but for financial institutions it means that winning new clients is more important than ever.

But, are customers really as loyal as this suggests? A number of factors have made the financial landscape more competitive over recent years, here we will explore the future of onboarding for high street banks.

How Remote Onboarding Has Grown FinTechs

The shift to digital was taking place well before COVID-19, but the pandemic, as well as advances in AI and alternative data, have helped accelerate the adoption and use of digital technology. Growing numbers of businesses are realising the necessity of, not just being online, but providing a first-class digital experience.

We almost take this new world for granted; from video conferencing and saving all of our information on the cloud, to startup brands having instant access to their customers – globally, people are becoming more connected with the use of digital solutions.

Consequently, businesses have had no choice but to innovate – and quickly – or risk losing market share and reputation to their more digitally nimble competitors.

The World’s Unbanked Population

Currently, there are two billion people worldwide who cannot access financial services because their data is not held on ‘traditional’ sources. There is a clear disparity between these ‘unbanked’ populations and those whose data is held online through the use of the internet and smart devices…

Recently, we explored how FinTech solutions are beginning to create more inclusive financial services, but what is the current state of play around the world?

The Biggest Threats to Banks

Today’s financial landscape is very different to that of yesteryear. Countless new business practices, regulations and compliance procedures have emerged, while technological innovation has rapidly changed business models and operational processes.

Those who wish to access financial services are no longer limited to the banks on their local high-street; technological advancement and an influx of funding has provided options while opening doors to a previously unbanked population. This, along with increased regulations and cyber-security risks are just some of the modern-day threats to banks.

Black Friday: Make Sure You Can Handle the Demand

As the festive season approaches, the retail landscape this year is very different to almost any in living memory. Black Friday signals the busiest shopping weekend of the year, and while high street stores up and down the country have been forced to close their doors, it’s never been so important for businesses to provide a first-class digital experience.

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