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Banking

Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia

James Barker

James Barker Owner at Tech Market Access

Monzo vs Chase vs Revolut: Battle of the Embedded Wealth solutions

Banks are finally starting to adopt wealth management alongside their daily banking capabilities. Frankly, it's about time! The notion that a bank relationship would be limited to spending and borrowing, without helping to invest and grow, has for a long time struck me as fundamentally flawed. With the adoption of embedded wealth management, banks...

/wealth /retail

Nick Green

Nick Green Director at Purple Patch Broking Ltd

The DOs and DON’Ts of credit data contracts

When it comes to credit data contracts, it’s not just about striking a deal on price; financial services procurement teams need to consider a range of factors to make them strategically aligned with evolving needs. By understanding the nuances involved, you can ensure that your financial institution is positioned to respond dynamically to market ch...

/risk /retail

Kanika Hope

Kanika Hope Chief Strategy Officer at Temenos

An uncertain future for challenger banks

Challengers face an uncertain future. Some will run out of cash, some will get acquired by incumbents or even the more successful challengers, and then there are those that will succeed independently. So what are the possible outcomes? Shut Down: Of ~630 launches since 2010, ~180 challenger banks have ceased operations due to lack of sustainable r...

/startups /predictions

Ben Goldin

Ben Goldin Founder and CEO at Plumery

2023: A year of banking innovation

As we reach the end of another eventful year in banking, it’s time to take stock and reflect. From the accelerated fall of high street bank empires, the ongoing fight for market share from both incumbents and their challenger peers, and how everyone is harnessing the power of AI, it’s been quite a ride. Here we give a run-down of some of the most...

/retail /predictions

Alex Kreger

Alex Kreger Founder & CEO at UXDA

New business strategy formula: Improve customer engagement in banking

Customer engagement in banking refers to the interactions and relationships between a financial brand and its customers that cultivate a sense of loyalty, involvement, and investment in the bank's products and services. It is a measure of how involved and committed customers are to the financial brand and how much effort they are ready to put into...

/retail /identity

Nick Green

Nick Green Director at Purple Patch Broking Ltd

The impact of BNPL’s rapid growth on lenders

With almost half of UK adults having used BNPL, lenders face a key challenge: the varied data reporting practices among BNPL providers and CRAs. In this piece, we'll explore the rapidly growing BNPL market, and shed light on the disparities in data reporting and the implications for the credit industry. The rise of BNPL in the UK market BNPL has...

/risk /retail

Silvija Krupena

Silvija Krupena Head of Financial Crime at RedCompass Labs

How a persona-based approach can help banks tackle human trafficking

Human trafficking is not only one of the biggest injustices of our time, but it is also one of the most widespread financial crimes in the world. Profits are estimated to be over $150 billion a year. Traffickers’ criminal techniques are becoming increasingly sophisticated, which makes it challenging for banks to spot and stop the transfer of ill...

/retail /crime

Sameer Dubey

Sameer Dubey Chief Product Officer at Griffin Bank

A look at the current state of BaaS: Opportunities for innovative banking infrastructure

Banking as a Service (BaaS) has changed the way banking products are built and offered. Consumers want to be able to access financial products when and where they need them, and BaaS platforms enable companies to embed these products in their own apps and ecosystems without the complexity and cost of obtaining a banking licence. Baas providers a...

/devops /startups

Abhi Desai

Abhi Desai Director at Pelican

AI-powered Name Screening for Instant Payments

nstant payments, also known as real-time payments (RTP), have emerged as a transformative force in the financial landscape, enabling the immediate transfer of funds between individuals and businesses. This shift away from traditional payment methods, which can take days to settle, has revolutionized the way people and organizations interact financ...

/payments /crime

Chaitanya Rajebahadur

Chaitanya Rajebahadur Executive Vice President at Zensar

Is human-less banking backfiring? Advice for banks as customers crave human connection

The digital evolution of banks has been nothing short of a revolution. Fundamentally transforming the way financial services are accessed and delivered, the aim was always to enhance convenience, speed, security, and enable 24/7 access for customers. While tech - including telephone banking, automation and AI-powered chatbots - has certainly delive...

/retail