Disruption in Retail Banking

Growth in internet and mobile technologies has transformed many industries and economies. The market forces and competitive landscape has completely changed in many sectors. iTunes has fundamentally changed music industry, Amazon has driven most big brick and mortar book sellers out of business, Expedia is one of the worlds' biggest travel company….. the list goes on.

Andrew Stevens Global banking and financial services specialist at Quadient

Which? reports branch closures, but banks must maintain a physical element to customer experience

Which? has released a research report showing more than a third of bank branches have closed in the last five years. The consumer group found that 3,303 branches closed between January 2015 and August 2019, leaving just over 6,500 branches open in the UK. It was concerning to see that the closures were led largely by the ‘Big Four’, with RBS Grou...

08 October 2019 /retail

Sheza Gary Project Strategiest at Self Employed

Digital Disruption In Finance Sector: The Trends And Technologies Shaping The Industry

The impact of the rapidly evolving digital landscape, with more and more new technologies making their way, can be seen in almost every aspect of our lives. One of the industries that have been impacted the most by such digital disruption is banking and finance. It is quite interesting to see how the highly regulated banking & financial sector...

21 August 2019 /security

Andrew Beatty Head of Wealth, Retirement & International at FIS

The Art and Science of Conversational Banking with AI

With high-tech Conversational Banking platforms, the art is designing a great experience centered on words – written and spoken. This represents a shift from traditional design (which focuses on content, graphics, and buttons) to recognizing what a customer is asking, maintaining the context of the conversation, providing relevant responses, and p...

23 May 2019

Andrew Beatty Head of Wealth, Retirement & International at FIS

Banking on the Branch of the Future

Disruptive technologies are challenging traditional bank business models and changing how banks interact with their customers. Cores are being modernized, and artificial Intelligence (AI) and machine learning (ML) technologies are automating, refining and optimizing processes. Meanwhile, digital and mobile-only direct banks have surged in populari...

28 March 2019 /retail

Henry Iversen Chief Commercial Officer and Co-Founder at Boost.ai

6 ways conversational AI supercharges the bank customer experience

The banking and financial services industry is ripe for technological disruption. Banks are naturally experimenting with AI (artificial intelligence) to automate traditional day-to-day transactions; while insurance companies and financial advisors are chasing alpha by layering AI on top of data to ascertain risk. These institutions in general are ...

20 March 2019

Vaibhav Grover Senior Director at Sutherland

How fintechs are revolutionizing the customer onboarding process

As per a recent CNBC report (1), In US, fintech companies accounted for 38 percent of all US personal loans in 2018. That's a revolutionary growth from just 5 percent in 2013. On the other hand, traditional banks' share of these loans has fallen down to a mere 28 percent that used to be 40 percent in 2013. Fintechs are surely heading in the right ...

19 March 2019 /retail

Claus Christensen CEO at Know Your Customer

The role of RegTech in fostering trust in digital consumer banking

Over the last few years, the success of so-called digital and challenger banks has depended largely on their ability to market themselves as “different”. An increasing number of retail customers have been abandoning traditional banking in favour of new digitally minded players, in part, because they felt that a lot of the fees that were imposed on...

15 March 2019 /regulation /retail

Andrew Beatty Head of Wealth, Retirement & International at FIS

Nuts and Bolts: Process Automation and Digital Banking Experiences

Like nuts and bolts, automated processes and decision making must be “part and parcel” to securing and delivering frictionless digital customer experiences in the banking delivery model of today (and tomorrow). Keys to accomplishing this include instituting Robotic Process Automation (RPA) upon legacy solutions/processes, as well as leveraging dat...

28 February 2019 /retail

Retired Member 

What is the Future of Bank Branches?

There are many Bank branches (Retail Banks) operating across India. Do we really need so many branches of the bank to tap customer base? I personally feel going forward there will be following activities happening in the retail-banking arena • Consolidation of Banks will lead to better Service, reduction of operation cost by closing down branches...

15 November 2018 /retail

Mohan Raj Senior Manager at Genpact Ltd

AI in Customer Experience Transformation

Customer experience transformation has been around for more than a decade. It was widely popular in retail industry which was quick to recognize Customer experience as a competitive differentiator. The concept gained traction across consumer facing domains notably consumer banking, E-commerce, Hi-Tech. Companies have spent millions of dollars in t...

12 November 2018