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The growing interest in digital banks

Insights on Business

Traditionally, banking was a conservative industry with relatively high barriers to entry. Banking products and services were defined and controlled by the bank. At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry.

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SMB Funding Embraces The Open Banking Way

PYMNTS

Even so, as this week's exploration of bank-FinTech collaborations and open banking initiatives reveals, opportunities to add new revenue streams, improve product offerings and enhance the end-user experience are too promising to ignore. Poland's mBank Taps Treasury Pricing FinTech. In the U.K.,

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Legacy FIs Losing Sight Of SMB Data Must Step Up With Digital Agility

PYMNTS

In other words, SMBs’ use of FinTech products outside of legacy financial institutions’ ecosystems is cutting off those traditional lenders from the COVID-era data flows and analytical insights SMBs now need. As Potter noted, “transactional data is not coming through the banks as it used to. Deluxe itself has 4.5

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NEW REPORT: Behind Regions Bank’s AI-Powered Digital-First Push

PYMNTS

percent of banking customers would be interested in switching their financial institutions (FIs) if their branch experiences do not match their digital banking experiences. A digital-first approach to banking has become critical to survival, in other words. Recent PYMNTS research indicates that 34.8

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Dock Stops Over USD$50m a Month in Fraud Using FICO Technology

FICO

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. Previously, when the bank called customers the average response rate was 25 percent.

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Fundbox, Tipalti Tip The B2B Payments VC Scales

PYMNTS

s Nationwide Building Society did not disclose how much it invested in BankiFi , but it did say that it’s support to the open banking FinTech comes as Nationwide plans to launch a business current account. The firm operates a platform to automate tax and financial management processes for gig workers, sole traders and contractors.

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Contact Centers in the Cloud: A Welcome Disruption

Gonzobanker

In recent years, while everything from loan origination systems to CRM to digital banking moved “to the cloud,” contact center platforms remained one of the last bastions of on-premise banking technology. Modernized user experience – Cloud providers are delivering vastly superior agent user interfaces.

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