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IT Transformation: How Banks Are Driving Digital Technologies

Banking 2020

Banks have one of the largest IT budgets of any industry, but what exactly are organizations getting for the money? Powering innovation starts with transforming technology and its use. The banking and financial services industry nearly tops the list of largest IT budgets, spending an average 6.3 percent of revenue on IT.

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China and India lead global cashless growth

Banking 2020

For the last few years, developed countries around the world have been witnessing an unrelenting march away from cash, as consumers take advantage of new technologies such as fast payments, contactless and mobile to complete transactions without resorting to notes and coins. Newer technologies help Asian markets. billion transactions.

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Finland and US lead the way for non-cash payments

Banking 2020

Citizens in Finland, the US and the Netherlands have been revealed as the most prolific users of non-cash payments such as credit and debit cards, according to a report that revealed which nations are leading the way with innovations in payments. Overall, 123 billion such payments were made in the nation in 2013.

US 40
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Asia Pacific set to drive mobile payments growth

Banking 2020

Mobile technology is rapidly becoming an integral part of the way that many people manage their finances and make everyday payments, with the popularity of mobile banking apps and dedicated mobile payment tools such as Apple Pay growing all the time.

Mobile 40
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Lack of EMV-compliant infrastructure boosts US fraud rate

Banking 2020

The US has been identified as the leading country for card fraud, after a new study revealed almost half of global losses to the crime last year occurred in the nation. This is according to The Nilson Report, which found 48.2

Fraud 40
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B2B FinTech On The Cusp Of Change

PYMNTS

SMEs want banks to offer bitcoin services , suggesting the cryptocurrency may not be such a failure after all. According to new research from Accenture, which published the results in its “SME Banking 2020: Changing the Conversation” report, small and medium-sized businesses are eager for more value-added services offered by their FIs.

Fintech 108
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PWC Takes Very Optimistic View Of Retail Banking

Tech and Finance

PWC Retail banking. In its report on Retail Banking 2020 — Evolution or Revolution, PWC optimistically ignores many of the details of its survey and concludes that banking has a great days ahead. Banks need to decide whether they want to shape the industry, become fast followers or manage defensively, the report added.

Retail 28