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Deep Dive: Why Video-Based KYC Is Key To Seamless, Cost-Effective FI Onboarding

PYMNTS

Banks and other FIs must be certain that their clients are who they claim to be and adhere to AML compliance — or be held accountable. . Video-based KYC is an effective digital technology used increasingly to confirm customers? Another key advantage is that video ID can reduce verification time from days to minutes.

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The growing interest in digital banks

Insights on Business

As a result, many new, all-digital financial services firms, unencumbered by older, less flexible systems are aggressively pursuing customers by addressing their needs in new and distinct ways. There are interesting characteristics both in the new entrants and in the more established digital banks.

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The Pandemic’s Push For The FI/FinTech ‘Win-Win’

PYMNTS

Necessity being the mother of invention, consumers rapidly reset their lives around digital across the board — from working to shopping to learning to managing their financial lives online. Kikkeri said this is the highest penetration that mobile banking has ever seen among consumers.

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Is the branch the newest digital channel?

Celent Banking

Some institutions like Garanti Bank in Turkey, ICICI in India, and Umpqua Bank in the US are already starting to think in terms of remote delivery. As video service becomes more mature (i.e. The branch of the future has been a topic of discussion since the advent of online banking and mobile.

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Mini-Silos: The Opportunity Fintechs Bring to Banks

ZootBlog

It is well known that silos have long prevented banks from achieving the ideal customer experience, because they create a fragmented user experience. An executive from Ally Bank made an interesting observation at a recent industry conference. This is an opportunity for banks.”.

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The Best Opportunities for Retail Banks to Improve Customer Experience

Cisco

The potential cost of a poor user experience for mobile banking is high. Of those that abandoned at least one mobile activity, 31% shared their negative experience with a friend or family member, opened an account at another financial institution, filed a complaint, or discontinued their relationship. And when it isn’t?

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The Best Opportunities for Retail Banks to Improve Customer Experience

Cisco

The potential cost of a poor user experience for mobile banking is high. Of those that abandoned at least one mobile activity, 31% shared their negative experience with a friend or family member, opened an account at another financial institution, filed a complaint, or discontinued their relationship. And when it isn’t?