The digital banking market is forecasted to reach
$9 trillion dollars by 2024 and 8% annual growth rate
In 2019, five large global banks plan to spend
$44 billion on digital transformation.
By 2030, most banks will be made irrelevant, according to Gartner. Within 12 years time, 80% of financial firms will either go out of business or be rendered irrelevant…
Banco Galicia is immersed in a technological transformation effort to reshape the institution based on four pillars: diffusion, experimentation and prototyping, open banking and artificial intelligence. In this video presentation, Emiliano Porciani, the bank’s Digital Manager, shares the strategy that has been successfully implemented in recent years. (Spanish)
July 25, 2019
A new wave of European fintechs are planning a new invasion into the U.S. banking industry, promising to disrupt the incumbent banking industry with nimble, accessible and appealing business models that they hope will steal away millions of young adults who have grown tired of what they perceive as second class treatment by traditional banks.
July 19, 2019
The promise of digital transformation is that, with the right mix of strategic focus, talent, creativity, and investment funding, the legacy bank, with its branch network, decades-old systems, and diverse customer base, can morph into a high-flying, digital-first bank.
As predicted, the EMV fraud chargeback liability shift has resulted in a significant drop in counterfeit card present payment transactions. At the same time however, we see a spike in card not present (CNP) fraud. What can institutions do to build customer trust and encourage card usage? One way is to not even get to the point of having to replace cards, by implementing card controls and robust security solutions.
Banco Santander will spend EUR20 billion on digital technology over the next four years as part of an efficiency effort aimed at slashing EUR1.2 billion in annual costs.
April 03, 2019
If you’re wondering if we’ll see a financial shake-up in 2019, the answer is yes—at least when it comes to digital transformation.
January 16, 2019
While some banks are pushing the envelope on technology-enhanced customer engagement, many are still catching up to customer demands for self-service features in their digital banking channels.
The credit card market is transitioning to the next phase of competition, one where issuers not only compete to acquire new customers, but one where issuers must compete to acquire every single transaction. This shift will have profound implications for financial institutions, networks, merchants, and all others in the credit card payment ecosystem.
More and more bank owners and managers are aware of the benefits of implementing mobile marketing as part of their business strategy. According to the 2018 Guide To Financial Marketing by Jim Marous, the first of the top 3 strategic priorities for the banking industry is to redesign and enhance the digital experience for consumers
July 04, 2018
With 85% of banks citing implementation of a digital transformation program as a business priority for 2018, investment in technology to drive efficiency, manage evolving risks, and benefit from growth opportunities will be critical for sustainable success.
Most cardholders have experienced it that feeling of embarrassment and frustration at the POS when a payment card is mistakenly declined due to suspicion of fraud. False declines, which occur when a good transaction by the authorized cardholder is erroneously declined, happen far more often than issuers and merchants would like. False declines not only result in lost revenue opportunities but also create unhappy customers, which is bad business for both the merchant and the card-issuing bank.
Allowing consumers to control their debit card with their smartphone setting spending limits, turning the card on and off and more is leading to higher debit spending, as one payment processor reports.
July 03, 2015
Making life better for our customers can be as simple as making it easier for them to safeguard and manage their own finances. LockIt gives Regions customers more security, flexibility and convenience to ensure their cards are used how they want, when they want. LockIt was implemented using First Performance Global, an innovative technology platform that captures card transaction data in real time.
~Scott Peters, Head of Regions Consumer Services
This release reaffirms the constant pursuit by Bradesco of digital technologies that add value and facilitate the daily lives of consumers, making the client experience more secure, fast, simple and adapted to the Brazilian consumer needs and habits.
~Alexander Rappaport, CEO of Bradesco Cards
Nexus has always sought to deliver highly valuable and innovative services to our customers and shareholders. We believe this partnership with First Performance continues to demonstrate our strong commitment to excellence and will contribute greatly to improved service between our customers and their cardholders, this agreement is fully consistent within the whole company strategy.
~Gabriel Cifuentes, CEO of Nexus