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

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 7. Choosing a New Banking Solution - All Cores Aren’t the Same

Given the number of solutions available and the cost and complexity of building one from scratch, banks would be better served by acquiring a 3rd party core banking solution. One that is proven with existing customer implementations and designed for flexibility to meet the varying requirements across different banks, geographies, customer segment...

20 February 2024 /retail /cloud

Paolo De Vito Piscicelli Account Director, Financial Services at SoftServe

Can AI Cure the Curious Case of COBOL in the Finance Industry?

The banking industry is making concerted efforts to rejuvenate and alter entrenched perceptions of there being too many slow-paced organizations. However, despite many positive signals that banks are adopting disruptive technologies to get them ahead of the curve, many are still hampered by having to rely on a programming language that is over 50 ...

19 February 2024 /inclusion /crime

Nick Green Director at Purple Patch Broking Ltd

Reducing risk and spend during times of unpredictable inflation

Andrew Bailey is under pressure. While there’s been progress in getting UK inflation down, it’s too early to declare victory, just yet. If they cut interest rates too soon and too rapidly—they risk a resurgence of price pressures. If they wait too long—they could do unnecessary damage to the economy, consumer affordability, and labour market. At t...

15 February 2024 /regulation /retail

Henning Holter Director, Business Development at Star Global

Incumbents and innovators: Embracing partnerships

Cultural changes are challenging the long-standing loyalty that consumers once had to their bank. The transformation has been driven by the rapid development in technology, along with evolving attitudes toward customer experience, especially amongst younger people. This brings key opportunities for both the more innovative traditional banks and th...

14 February 2024 /retail

Nick Green Director at Purple Patch Broking Ltd

FCA's latest Consumer Duty warning: A call for smarter credit data management

The FCA recently unveiled new consumer protection guidelines that signal a major shift in credit data management. These rules require financial services firms not only to meet formal compliance standards but also to proactively consider customer interests and welfare. In addition, the FCA simultaneously signaled that crowdfunding and peer-to-peer ...

13 February 2024 /regulation /retail

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 6. From Rip and Replace to Modernisation – The Approaches to Addressing Legacy Core Challenges

Why the time is right to modernise Nobody ever said that replacing a core system would be cheap or easy, and we highlighted this previously when we discussed the challenges of replacing core banking. Nevertheless, not all projects to replace core banking have been failures. Below, we discuss the different ways that banks have approached core bank...

13 February 2024 /sibos /retail

Chirag Shah Founder and CEO at Nucleus Commercial Finance

Fintech evolutions in 2024

The evolution of fintech has been rapid, but there is still scope for enormous advancement across a broad range of categories. And 2024 holds huge potential, particularly regarding the end-user experience. But these advancements may be tempered by increased scrutiny in areas including regulation and security. So, what can we honestly expect from f...

06 February 2024 /predictions

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 4. The Evolution Of Banking

The previous blogs in this series taught us how banking distribution and core banking technology have evolved over the decades. Banks are criticised for lacking innovation and not being progressive with technology, but the exact opposite is true for some. We will later share more on banks' significant challenges when considering replacing their co...

30 January 2024 /payments /retail

Siobhan Byron EVP, Universal Banking at Finastra

Unlocking inorganic growth in the U.S. community banking landscape

In the ever-evolving landscape of community banking and credit unions in the United States, the theme of inorganic growth has become more than a trend; it is a pivotal force that can shape the future of financial institutions. Inorganic growth, in the form of acquisitions and strategic partnerships, presents a golden opportunity for community banks...

25 January 2024

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 3. The Evolution of Banking Distribution – From Apps to APIs

Before the introduction of technology, banking had always been a face-to-face business. Yet even personal interactions have evolved from happening anywhere to meetings in coffee/tea shops and then having dedicated branches where banking happened in person with physical money. At this point, everything was recorded in paper ledgers till as late as ...

23 January 2024 /payments /retail