Banking & Financial Services

Mobile Wallets Must Move Beyond Payments to Escape Infancy

A risk of card fraud and popularity of smartphones among various users has led to the emergence of “mobile wallet” solutions for point-of-sale (POS) and online shop payments. However, mobile wallets remain in a nascent stage until service providers can deliver value beyond just payments. Digital payment service providers are both competing aggressively and willing 

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Smart contracts: Too blurry to be true?

The herding mentality in finance is a recurring theme. We have seen it take place both during the dot-com boom and the mortgage crisis. Recently, it is fintech startups and the solutions that they develop which have attracted interest. Smart Contracts (SC) are a recent example of a solution that’s beginning to turn heads. One 

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The case of experimental environment for driving innovations in banking and financial services industry

There is a paradigm shift happening in the banking and financial services (BFS) space. Day in and day out we are reading stories about new technologies, new business models that are reinventing the way banking is done. These rapid changes are largely inflicted by a strong FinTech ecosystem comprising of start-ups and new-age, much agile 

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Robotics process automation, the present and the future of banking Industry – Part III

Get your organization ready to embrace the next big thing across your enterprise Embracing Automation  The primary objective of automation is to eliminate routine no-brainer tasks and improve employee productivity. Enterprises will also continue to embrace automation technologies to improve corporate financial performance while simultaneously accelerating business growth. As digitization and automation conquer the world, 

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Why do banks and retails care about UX and digital?

Digitalization, user experience (UX) and cloud computing are some of the major trends that have seen an increasing and widespread adoption in the financial services, banks and retail industry lately. While digital only retail have been around for a long time, digital-only banks have also emerged in the last few years such as ATOM, UK’s 

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Digital wallets not yet ready for prime time

We read a lot about digital wallets these days – particularly in the wake of 2014’s Apple Pay announcement. All this excitement inevitably raises the question: when will digital wallets replace leather wallets? In other words, when will old fashioned cash and traditional credit cards become passé? To answer that question, we need to consider 

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The future of biometrics in payments

The global explosion of mobile payments is driving the need for a more secure authentication system – an alternative to traditional authentication techniques is cloud based mobile biometrics. Biometrics related to payments is ultimately about ways to enhance authentication. Indeed, the Biometrics Research Group, Inc. expects that worldwide mobile payment transactions will reach $250 billion in 2014, 

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Robotics process automation, the present and the future of banking Industry – Part II

A sneak peek into the 3 levels of your back office automation implementation Among a host of other enterprise functions, the impact of RPA is likely to be higher in back-office processing and routine IT operations, primarily due to the predictive nature of such repetitive tasks performed by human workforce and the ease of implementation 

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How the blockchain model can be applied to online shopping and e-retailing

Can online shopping be modeled on a Blockchain system? This is probably a question on many a mind. For those who are new to Blockchain – it’s the technology that underpins Bitcoin. In the last 2 years there has been significant market interest in re-using this technology paradigm in other areas. The key features of 

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Modeling the blockchain for business use

As one of the hottest technological developments making the rounds in financial circles, the blockchain has a lot of people hooked. But there is not yet much clarity on how blockchain technology will impact private business, given that it is so unlike traditional IT architectures. Private blockchain applications are amalgams of cryptography, immutable transaction log/ledgers, 

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Utilizing the internet of things in banking

While the banking industry has so far been a laggard in utilizing the Internet of Things, changes are afoot driven by the need for productivity improvement, innovation and growth. The Internet of Things (IoT) continues to be a hot topic, not only in the technology industry but also in traditional core industries. It would drive 

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A quick recipe to data protection in the digital age

In this digital age, data security is a crucial aspect of any business and is increasingly becoming challenging with the humongous amount of customer shared data that are available across various channels. Also, with regulations from governments becoming increasingly stringent, the task of securing data has become all the more laborious and critical. Organizations dealing with 

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The mystical blockchain – The bitcoin technology

While Bitcoin technology has been hitting the headlines over the last few years, Blockchain is the essence that underpins it. But what is Blockchain? It’s essentially a ledger which logs transactions between two parties. Yet while most ledgers are kept in banks or accounting departments, Blockchain is a distributed ledger in which copies are kept 

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Top 4 reasons banks should be excited about blockchain

Blockchain (the technology that powers Bitcoin) is a magic box – a mix of innovations and the smart use of available solutions make it revolutionary. It’s not often that a technology paradigm has so many great ideas packaged into a small capsule. There is little wonder why all the top banks and investors are backing 

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Inclusive solutions for enterprise risk and compliance

Over the last several years, bank governance, risk and compliance (GRC) programs worldwide have been placed under increased scrutiny by regulators, elected officials and the public. The myriad of new regulations and requirements, primarily driven by the Basel III framework and regulations such as Dodd-Frank, have increased the complexity and costs to maintain regulatory compliance. 

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Client Lifecycle Management (CLM): Re-imagined! 

Over the last few years we have seen a flurry of activity in the CLM space. Initially the focus was on adhering to new regulations – relooking at policies and modifying processes and systems. With the stabilization of regulatory changes, banks have now started focusing on driving efficiencies, lowering costs and improving experiences. Customers have 

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Will banks suffer casualties in the battle to own the customer experience?

Having access to a seamless multi-channel experience is paramount to a new generation of customers, many of whom are more likely to choose a slick mobile app over favourable interest rates. 0% balance transfers at the click of a button mean the days of the ‘bank for life’ are well and truly over – convenience 

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