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Scotiabank, Fifth Third, SunTrust: Amazon, Apple inspiring UX

Bank Innovation

The popularity of Amazon Prime and Apple is forcing bankers to rethink user experiences, industry practitioners said at Bank Innovation Build. “Technology is an enabler, but user experience design provides […].

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Saudi Arabia’s Open Banking Plan Aims To Advance Digital Innovation

PYMNTS

The Saudi Arabian Monetary Authority (SAMA) is introducing an open banking policy to advance digital innovation in the financial services sector. Saudi Arabia’s central bank said the plan is for open banking to go live in the first half of 2022.

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Increasing Digital Banking Options Put Pressure On Big Lenders To Adapt

PYMNTS

At a time of increased consumer use and acceptance of the new COVID-era digital lifestyle, the pressure is mounting on large, legacy lenders to accelerate their innovations – or become obsolete. 5), J.P.Morgan CEO Jamie Dimon said banks that don’t adapt in how they deal with customers will go the way of the dinosaurs.

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Why Drive, Not Size, Is Key To FI Innovation

PYMNTS

Smaller banks and credit unions enjoy a reputation of offering more personalized services than large financial institutions (FIs). When it comes to technological innovation, however, the smaller players have long been outgunned by larger FIs and their sizable IT budgets. percent) and large banks (23.8 percent in 2017.

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The growing interest in digital banks

Insights on Business

Banking products and services were defined and controlled by the bank. Recently, new digital technologies – driven by cloud, mobile, social media and analytics – have significantly lowered entry barriers and put customers much more at the center of the banking relationship.

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NEW DATA: How COVID-19 Is Driving CUs’ Digital Leap

PYMNTS

COVID-19 has closed bank and credit union (CU) branches across the United States, sending the demand for digital banking solutions soaring as consumers hop online to manage their finances from home. However, CUs are not the only financial institutions (FIs) looking to offer digital banking innovations to their members.

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BBVA On Google, Digital Banking And The Rise Of The ‘Everyday App’

PYMNTS

When the story of the coronavirus is written, when it comes to financial services, the key chapters will focus on the pace at which innovation accelerated — and where a range of players came together to create ecosystems, rather than to simply compete in zero-sum, winner-take-all bids for consumers.

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