Hollywood’s Newest Special Effect, Digital Banking?

PYMNTS

From phone support and mobile apps to ATMs and chatbots — when it comes to customer service, banking automation has come a long way. However, the one missing piece that these automated banking features lack is a real human being to interact with during a transaction.

The growing interest in digital banks

Insights on Business

With few exceptions, “banking hours” are becoming 24/7/365, or whenever and wherever a customer wants to do banking. Traditionally, banking was a conservative industry with relatively high barriers to entry. Banking products and services were defined and controlled by the bank.

Citigroup Eyes Creation Of National Digital Bank

PYMNTS

Citigroup is gearing up to launch a digital consumer bank that will be national in scope and will arrive within the next three years. Citing Citigroup Chief Financial Officer (CFO) John Gerspach, Reuters reported the executive said at an investor conference that the financial company is “laying the groundwork for having a national digital bank. Digital Banking Citigroup consumer banking Merchant Innovation News Technology What's Hot

Top Digital Banking Players Ranked

PYMNTS

The digital banking industry is heating up — and fast. The tracker provides the latest news, research and expert commentary from the FinTech and consumer banking space, along with profiles of dozens of companies in the industry. Digital Banking What's Hot What's Trending

The digital bank vs digital banking

BankNXT

Traditional banks should feel more threatened than they currently do, says Sudhir Kesavan, who examines the difference between digital banks and digital banking. The digital bank vs digital banking on BankNXT.

Digital Bank Tandem Buys British Fintech Pariti

Bank Innovation

based digital bank Tandem closed a deal to acquire fellow British fintech Pariti, a personal money management app in the country with about 95,000 registered users. Exclusive Mobile Payments acquisitions Harrods Bank neobanks Pariti Tandem UK fintech

BBVA-Backed Digital Bank Azlo Launches in the U.S.

Bank Innovation

Azlo, a digital banking startup geared towards freelancers and the self-employed, has formally launched in the U.S., Exclusive Online Startups Azlo BBVA digital banking online banking startups

Digital banks are 35+ times more productive than traditional banks

Chris Skinner

I’m launching the new book Digital Human in New York on the evening of April 12. BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog. Blog Index Case Studies Chris Skinner Digital Bank Fintech Future Grid Inclusion Innovation Mobile Numbers Opinion Payments Technology

The 411 On The Digital Banking Evolution

PYMNTS

As the banking shift brought about by the rise of FinTech startups continues to disrupt the traditional brick-and-mortar banking experience to make it seamless, convenient and richer, we’re seeing all sorts of interesting partnerships and technological adoption.

Building A Digital Bank — From Scratch

PYMNTS

“The real ‘move the needle’ opportunity in banking is to build a bank from scratch.”. That’s according to financial services vet and Varo Money CEO and Cofounder Colin Walsh, who told Karen Webster recently that the future of banking, for millennials in particular, lies not in branches but in bots who become money coaches. Millennials, Walsh went on to say, get very, very little, if any, advice at all from their bank about what to do with their money.

Millennials are digital banking savvy—but they want more from banks

Accenture

Just how digital are Millennials? Retail banks are asking this question to tailor banking customer experiences to a digital savvy generation with growing earning power. While Millennials are digital banking devotees, banks should not assume that’s all they’re about.

Digital Banking Startup Loot Raises $2.9M Series A

Bank Innovation

Another digital banking startup has raised funding this week, this time to expand a current account offering aimed at students and millennials. Capital Exclusive Mobile capital digital banking mobile app neobanks startups

Look Beyond Technology for Better Digital Banking, Fiserv Says

Bank Innovation

EXCLUSIVE—With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions.

For Challenger Digital Banks, It’s Game On

PYMNTS

New players on the digital banking scene are hoping to change the game by looking to industries that are categorically unlike banks for inspiration. The digital-first approach appears to be resonating well with consumers. Gaming The Banking System.

How Facebook Became Fast Friends with Digital Banks

Bank Innovation

EXCLUSIVE - Before social media platform Facebook became a popular channel for digital banks to offer banking features to its customers, let’s not forget that FB was first and foremost an important advertising tool for banks to reach a younger audience.

Digital Bank in one picture

Chris Skinner

I spent a day working on a bank’s digital strategies the other day. So what this … Digital Bank GridIt was a fascinating day and, as is the norm with some of these offsites, a scribe artiste was scribbling my ramblings on a chart.

Paytm Says On Track To Be World’s Biggest Digital Bank

PYMNTS

India-based Paytm Payments Bank not only wants to become the world’s largest digital bank , but also to evolve into a financial services company providing a slew of services like wealth management and trading. 28), Paytm founder Vijay Shekhar Sharma said the company is aiming to have 500 million bank accounts. “We Digital payments was our entry point, we want to become a vertically-integrated financial services company.”.

Finding Value In The Digital Banking Lifestyle

PYMNTS

Consumers have come to expect the ability to bank digitally, but is there a way to make the experience more than just a transaction? But, in my view, everyone will be paying with their phone, with either a bank app or retailer app, in the near future.

UK Banks Shutter As Digital Banking Surges

PYMNTS

bank HSBC has closed more than a quarter of its branches in its hometown during the course of the last two years. the closures are part of 1,000 closures of bank branches in total for HSBC. 2015, HSBC has reportedly closed 321 branches, which accounts for 27 percent of its bank network. Meanwhile, Co-operative Bank closed greater than half of its bank branches during the same timeframe that the HSBC branch closings occurred. Which?,

Is Stand-Alone The Future Of Digital Banking?

PYMNTS

As the world goes increasingly digital, banks are struggling to decide how they should package their digital service offerings. They don’t make any sense to a customer – they’re just bank constructs.”. . What’s a traditional bank to do?

Digital Banking Startup Alkami Secures Series D Funding

PYMNTS

Alkami Technology , a startup providing banks and credit unions with digital banking technologies, has announced new funding. In an era of digital transformation , our clients, who consist of credit unions and banks in the U.S., count on Alkami to inspire and power their digital strategies through enhancing value, growth, service, efficiency and relationships,” said Alkami CEO Mike Hansen in a statement.

The Definitive Guide to Digital Banking Platforms

Dataconomy

Did you doze off and miss the digital banking revolution? If so, here is your indispensable guide to choosing a digital banking platform The innovative nature of the financial services industry calls for constantly introducing new solutions to the market.

In Digital Banking Age, Personal Touch Still Matters

PYMNTS

Technology has brought transparency and speed to financial interactions, including those between banks and their customers. But must everything be at arm’s length, a technology-enabled hit-and-run where banking is ruled by apps and apps alone? Human interaction still matters and, for some smaller players in the banking realm, can make all the difference in providing a positive experience that will keep customers in the fold.

Digital Banking Leads to Most Bank Branch Closings Since Great Depression

Bank Innovation

Is digital banking killing physical bank branches? How much truth is there to the longtime fear that online banking will replace consumer interaction with bank branch tellers?

Most U.K. Customers Would Not Choose a Digital Bank Over a Traditional One

Bank Innovation

Long before PSD2 arrived ( the European regulation that requires banks to open their platforms to fintechs), the U.K. had already established itself as a hub in Europe for digital banks like Revolut, Monzo etc.

Digital banking: What was once a differentiator, is now a commodity

Mobile Payments Today

Despite the predominance of digital banking, there's evidence customers are growing less satisfied with their digital banking experience

An Insider’s View On Digital Banking’s Growth

PYMNTS

Traditional financial institutions have certain advantages over their new, and often much smaller, digital counterparts. Large, prominent banks typically have more resources, bigger customer bases and more experience working with consumers and financial markets.

Temenos To Power Telia’s Digital Banking Portal

PYMNTS

Bank software company Temenos has won the competition to work with telecommunications conglomerate Telia and power its digital banking operations, according to Reuters reports on Wednesday (April 11). The collaboration follows the release of a Temenos report last year, which found that companies are willing to switch their banking and financial services providers to access better services.

What's Missing in Digital Banking? Empathy

American Banker

Increasingly, our conversations about digital banking are only about technology. We must expand our dialogue to include ways to make digital banking empathetic. digital-banking mobile bank-technology

Close the digital banking gap between aspiration and reality

Accenture

Everyday Bank Featured Digital Readiness of European Banks digital banking gap

As Digital Banking Advances, Denmark Sees 60% Jump in Card Fraud

Bank Innovation

As online banking becomes more popular, countries are grappling with cybersecurity. In Denmark, the advent of digital banking also saw almost a 60% jump in card fraud, Bloomberg reported yesterday.

Fraud 180

Digital banking for loans is big for small business. How can banks deliver?

Accenture

Retail banks are focusing on small business lending as a revenue stream in a competitive market. But what exactly do small business owners want from banks? Digital banking options are high on their list. Digital demand is on the rise.

Société Générale to Cut 15% of Branches as it Moves Towards Digital Banking

Bank Innovation

French bank Société Générale will be closing 300 of its branches as it expands it digital banking capabilities and moves to cut costs, the bank announced yesterday. Exclusive Online Retail European fintech online banking Retail Banking societe generale

The Acutely Digital Bank

Celent Banking

A few months ago there was a question posed on Twitter which sparked a pretty intense debate : “What makes a bank a digital bank?” How far do incumbent banks have to go in order to adjust to the new age of digital financial services? At a very basic level, most bankers understand the importance of digital. Many started digital transformation years ago, but the strategies have often been too narrowly focused to make a significant impact.

Digital banks are Copernicus banks (incumbents are with the Flat Earth society)

Chris Skinner

Most of the time I was getting exasperated because the banks wouldn’t take on the big projects, like the mortgage process, as it went across too many divisions. Yea, they may be valid to get a 5% cost reduction in the banks bottom-line, but they were dull.

Addiko Bank puts digital banking solutions on Appian

The Paypers

(The Paypers) Austria’s Addiko Bank has deployed two new digital banking applications on Appian ’s low code application platform

The changing face of digital banking

BankNXT

Gopal Iyer considers the changing face of digital banking, looking at neobanks and challenger banks. The changing face of digital banking on BankNXT. Banking Fintech challenger banks digital banking Fidor Gopal Iyer neobanks Number26

Qonto Opens Digital Banking Doors To Corporates

PYMNTS

French startup Qonto has officially launched its corporate digital banking solution. The company said this week that businesses can now open a bank account on its website, with customers able to access digital and mobile banking services for a monthly fee. Reports said Qonto wants to be the N26 of business banking.

Digital Banking Push May Bring 8K BoA Layoffs

PYMNTS

The continued movement by Bank of America toward digital banking could have the impact of lopping off as many as 8,000 jobs from the banking consumer unit, Financial Times reported. The digitization has meant that there is not as much demand for back-office people or staff functioning as bank tellers; conversely, the firm plans to add more staff as mortgage loan officers and other revenue-generating positions.

Barclays on quest to gamify digital banking

BankNXT

Collaboration between fintech specialists and banks is set to become the primary engine of innovation (and gamification), says Daoud Fakhri. Barclays on quest to gamify digital banking on BankNXT.