Cloud-native technology is revolutionizing not only software development but also banking operations, as banks that have already begun employing it are finding out. Is it hype or the inevitable future of banking? Cloud native’s benefits that include fast innovation, low cost, low risk, scalability and potential for profitable niches speak for themselves, and banks would do well to listen!
Successful e-commerce is as much about the customer experience as anything else. Choices need to be clear but abundant; payment quick and easy—or customers will move on. Having become accustomed to purchasing goods and services seamlessly through digital channels, customers expect the same from their providers of financial products and services. Banks need to employ a lesson or two from the e-commerce giants to meet customer expectations.
The world’s citizens have always been beset by risks of different types, but the frequency and intensity of risks from a variety of sources are increasing, especially for emerging economies in Latin America and the Caribbean. Insurance is the preferred recourse for those suffering from unfortunate events beyond their control, but even insurance has its limitations. What are the most effective risk-management tools available today?
Although the GDPR—designed to augment consumers’ data protection and privacy—is the brainchild of the Council of the European Union and European Parliament, its reach extends far beyond Europe. In the United States, it is no longer a choice but a must for financial firms to adopt stricter consumer-data-protection measures. The costs of not doing so far outweigh the costs of compliance; regulators expect data security, and so do customers.
What’s not to like about a process that simultaneously slashes costs and boosts efficiency? Increasingly, senior executives of financial-services firms, with eagle eyes focused on the bottom line, are jumping enthusiastically into the RPA game. Perhaps surprisingly, others in these organizations, such as IT employees, are reluctant. But adopting robotic process automation to best advantage must involve the active participation of the whole company-wide team.
With the new year comes new priorities for business and technology leaders, new trends to look out for and new best practices and ideas. While it can be hard to sift through all of the information to understand what it is that will have the biggest, most positive impact on your financial organization
Whether traditional banks choose to embrace them or not, direct banks are here to stay and are seeing unprecedented growth. In the US, Direct banks are attracting new customers at an eight percent annual compounded growth rate in comparison to physical bank branches
Experienced investors know that the most lucrative returns can come in the least attractive packages. Frontier markets, the world’s pre-emerging markets, could be the new frontier for high growth—at least for those investors who can look past the higher risks. Is the frontier market worth those risks? Many investors believe it is, which is why the market is only slightly less popular than its developed and emerging counterparts.