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10 Bank Technology Trends to Follow for 2024

South State Correspondent

While technology has always been important in banking, it has yet to drive the essential functions of banking. We tracked almost 100 banking technology trends throughout the year and now bring you the top ten, in order, based on our view of long-term strategic importance. In the last year, this has started to change.

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Contactless Payments Fraud – A Sleeping Lion in a Trillion-Pound Market

FICO

trillion by 2028. If we look at the current numbers against the wider backdrop of card fraud, they are fairly low in comparison. For example, in the UK, data from UK Finance revealed that in 2020 there was a total of £574 million lost through card fraud. Of this, only £16 million represented contactless payment fraud.

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Here’s How to Become More Than the Branch Next Door

Gonzobanker

It’s sort of like asking Taylor Swift to give up singing to take a job handling financial fraud instead. In a risk-averse industry, it isn’t an easy task to try the unknown, especially at a time when profits are under attack. In our registration batch, a question from one banker says it all: “Can we actually differentiate?” Short answer: Yes.

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Wells Fargo Fallout, New Amazon Payments Top Week’s News

PYMNTS

There were also New York Post reports that the technology might make an appearance at Whole Food checkouts this year. In early September 2019, reports emerged that Amazon was testing hand recognition-based payments at Whole Foods locations using its New York employees and some custom-fitted vending machines as an initial experiment.

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