Steve Morgan Banking Industry Market Lead at Pegasystems
If the events of the last month have taught banks anything, it is that they need to be prepared for every eventuality. The speed at which the global economic situation has changed since the beginning of the year has been unprecedented, as has the need to adapt to this new world. Now, the immediate focus for banks (as with all organisations) is the...
30 March 2020 /retail /covid-19 Banking Strategy, Digital and Transformation
Today’s consumers have a propensity for laziness, or to put it more positively… ease and immediacy! But who can blame us? Technology now allows people to bank on their phone instead of visiting a branch, with a most transactions being possible without needing to leave the sofa. So, to survive and thrive, what is the next step that banks must take ...
13 March 2020 /retail Online Banking
The short answer is yes…. sometimes to both. However, there is a huge change underway and enough evidence to suggest that customer and competitive pressure alone will drive more change, even without further regulatory updates. Globally, and in the UK, margins in the lending market are feeling the pressure. Slow credit growth (currently at 2.5% in t...
04 March 2020 /retail Disruption in Retail Banking
Open Banking has fundamentally changed the game for all of us in the banking and financial services sector. With shifts involving customer data, naturally there have been concerns as organisations transform, from how they can get a sufficient return, to the need for security, to the need to adhere to the new regulations. However, Open Banking has ...
31 January 2020 Open Banking
Artificial Intelligence, Robotic Process Automation, Intelligent Automation, Blockchain, Tokenisation, Machine Learning - banks are struggling to work out which technologies are most suitable for their needs and which they should prioritise in order to get the most out of their investment. In some ways, this has always been the case with technolog...
29 January 2020 Artificial Intelligence and Financial Services
The EU's Fifth Anti-Money Laundering Directive (“5AMLD”) will subject certain participants in the crypto-asset sector to regulation for anti-money laundering (AML) and counter-terrorism financing (CTF) compliance purposes. While it most crypto-asset companies will not be ready to comply by 10 January 2020 (the date EU member states are required to...
07 January 2020 /regulation /crypto The future of Payments in Europe
The history of credit and lending to business customers dates right back to Mesopotamia when the very first payday loans were used by farmers and the code of Hammurabi defined how the interest charged on silver loans was to be regulated. In more recent times, technologies including online lending have been as transformative as those first laws stam...
02 January 2020 Banking Strategy, Digital and Transformation
In the past year, we’ve seen technology play a huge part in shaping the banking industry landscape, from emerging fintechs to new solutions facilitated by Open Banking to the latest AI tools. With such progression happening throughout the sector, we are sure to see more disruptive trends emerge in the new year. So, what can we expect? Challengers ...
02 December 2019 /retail Trends in Financial Services
For commercial banks, a nagging issue is how to improve cross border payments. Compared to domestic payments they are more expensive, cumbersome and take longer to carry out. But despite banking technology coming on leaps and bounds, why do they remain such a costly headache? The root cause is down to the disparities between financial regulation a...
15 November 2019 /payments Transaction Banking
In retail banking, a bank only has one customer (or two) per account. In the corporate scenario however, there are so many more stakeholders for each account which makes service excellence far more complex. When customers are international, achieving excellent client service also comes with geographical challenges such as different currencies, lan...
30 October 2019 Customer Service 2015-2019-2025
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