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  • @fintechna 9:53 pm on February 9, 2019 Permalink | Reply
    Tags: Aité, , PersonToPerson, , Rise, ,   

    Real-Time Person-To-Person Payments Are On The Rise In The U.S. — Aité 

    It might not look like it, but Americans are moving to real-time person-to-person , largely from their mobile phones.
    Financial Technology

     
  • @fintechna 12:18 am on August 11, 2018 Permalink | Reply
    Tags: Attachments, , , , , , Phishing, Rise, URLs   

    Phishing Attacks Continue to Rise as Malware Moves from Attachments to URLs 

    The sophistication of cyber on financial services continues to evolve, yet instances of long-established tactics like email and attacks persist. A July 2018 study conducted by Proofpoint, a Sunnyvale, Calif.-based cybersecurity software company, found that email is the “most frequent source of advanced attacks.&; But the attack vector has shifted slightly. [&;]
    Bank Innovation

     
  • @fintechna 12:18 am on June 18, 2018 Permalink | Reply
    Tags: , , , , Rise   

    Insuretech Investment On the Rise 

    Within the landscape, is insuretech becoming the popular choice for investors? According to a Medici report, in insuretech, which it recognizes as a subcategory of fintech, was higher than investment in and B2B during the month of May. Fintech investment trends broken down by industry indicate a clear surge in insuretech investment. [&;]
    Bank Innovation

     
  • @fintechna 12:18 am on April 14, 2018 Permalink | Reply
    Tags: , , , , , , Rise, Shut,   

    Wells Fargo to Shut Down More Branches With Rise of Digital Adoption 

    EXCLUSIVE – plans to 300 this year and about 5,000 branches by 2020, as the bank sees a surge in adaption from its customers, CEO Tim Sloan said on today’s earnings call. San Francisco-based Wells Fargo saw a 13% increase year over year increase in its customers’ digital usage [&;]
    Bank Innovation

     
  • @fintechna 3:35 am on February 22, 2018 Permalink | Reply
    Tags: , , , , Rise,   

    The rise of the challenger bank 

    In my first blog for Accenture, I discussed some of the large-scale changes facing the banking industry in Europe. One of the biggest of these is the rapidly evolving nature of the competitive threat that European face. Overseas banks are receding in importance, as non-European banks have tended to refocus on their core markets and redefine their core businesses. Traditional banking competitors remain a factor, but the biggest emerging threat for European banks is from so-called “ banks.”

    In a survey co-sponsored by Accenture and Temenos, more respondents (22%) cited challenger banks—loosely defined as banks based on digital delivery channels with a focus on improving the customer experience—as the top competitive threat, outpacing vendors (20%), existing large incumbents (20%) and start-ups (16%). What’s more, the perceived threat from challenger banks has been growing, with 11% of respondents citing challenger banks as the top threat in 2015 and 16% in 2016.

    Challenger banks have many of the advantages of traditional banks, including the right to undertake activities that require a banking license and the consumer trust that derives from being a regulated institution. But, they tend to be more focused on the customer journey, and by operating without cumbersome legacy IT systems or the “brick and mortar” infrastructure that drives up incumbent banks’ costs, challenger banks can compete effectively while offering a customer experience based on digital innovation.

    Some banks are responding by offering their own challenger brands—such  as Leumi with Pepper and BNP Paribas with Hello. These entities are, in effect, parallel universes for legacy banks. If they are successful in establishing a digital framework with a lower cost structure and an attractive customer proposition, they may be able to move their own customer base to the new entity over time or generate new clients through that channel. In the meantime, however, the legacy banks are running parallel institutions, dividing their time and attention, and adding cost and complexity.

    Challenger banks have also found that the banking industry is not as easy for new entrants as they might have thought. The Financial Times has reported that capital demands for challenger banks are higher than anticipated and that the competitive marketplace is pushing UK challenger banks to offer riskier loans at low rates. As some of these challenger banks come from outside the industry—from areas such as telecommunications and retail—those constraints might prove a difficult hurdle to overcome.

    The environment remains incredibly dynamic: Some banks buy challengers banks outright; others partner with them to offer new services; and still others team up with fintech providers to create new offerings. The introduction of Open Banking is another factor that will reshuffle the cards, providing new opportunities for start-ups and for alliances between innovators and established players. In my next blog, I will look in more detail at how established European banks are approaching digital transformation in this changing landscape.

    The post The rise of the challenger bank appeared first on Accenture Banking Blog.

    Accenture Banking Blog

     
  • @fintechna 3:35 pm on February 17, 2018 Permalink | Reply
    Tags: , , , , Rise,   

    The rise of the challenger bank 

    In my first blog for Accenture, I discussed some of the large-scale changes facing the banking industry in Europe. One of the biggest of these is the rapidly evolving nature of the competitive threat that European face. Overseas banks are receding in importance, as non-European banks have tended to refocus on their core markets and redefine their core businesses. Traditional banking competitors remain a factor, but the biggest emerging threat for European banks is from so-called “ banks.”

    In a survey co-sponsored by Accenture and Temenos, more respondents (22%) cited challenger banks—loosely defined as banks based on digital delivery channels with a focus on improving the customer experience—as the top competitive threat, outpacing vendors (20%), existing large incumbents (20%) and start-ups (16%). What’s more, the perceived threat from challenger banks has been growing, with 11% of respondents citing challenger banks as the top threat in 2015 and 16% in 2016.

    Challenger banks have many of the advantages of traditional banks, including the right to undertake activities that require a banking license and the consumer trust that derives from being a regulated institution. But, they tend to be more focused on the customer journey, and by operating without cumbersome legacy IT systems or the “brick and mortar” infrastructure that drives up incumbent banks’ costs, challenger banks can compete effectively while offering a customer experience based on digital innovation.

    Some banks are responding by offering their own challenger brands—such  as Leumi with Pepper and BNP Paribas with Hello. These entities are, in effect, parallel universes for legacy banks. If they are successful in establishing a digital framework with a lower cost structure and an attractive customer proposition, they may be able to move their own customer base to the new entity over time or generate new clients through that channel. In the meantime, however, the legacy banks are running parallel institutions, dividing their time and attention, and adding cost and complexity.

    Challenger banks have also found that the banking industry is not as easy for new entrants as they might have thought. The Financial Times has reported that capital demands for challenger banks are higher than anticipated and that the competitive marketplace is pushing UK challenger banks to offer riskier loans at low rates. As some of these challenger banks come from outside the industry—from areas such as telecommunications and retail—those constraints might prove a difficult hurdle to overcome.

    The environment remains incredibly dynamic: Some banks buy challengers banks outright; others partner with them to offer new services; and still others team up with fintech providers to create new offerings. The introduction of Open Banking is another factor that will reshuffle the cards, providing new opportunities for start-ups and for alliances between innovators and established players. In my next blog, I will look in more detail at how established European banks are approaching digital transformation in this changing landscape.

    The post The rise of the challenger bank appeared first on Accenture Banking Blog.

    Accenture Banking Blog

     
  • @fintechna 12:18 am on December 10, 2017 Permalink | Reply
    Tags: , , , , , , , Rise, ,   

    Will Bitcoin’s Price Rise Turn the Currency Into a Mainstream Investment Tool? 

    EXCLUSIVE— With ’s over $ 15,000, and continuing to , it seems as though the has finally hit its moment. The currency’s price has more than doubled since the beginning of the year, and much of that spike has occurred just within the past couple of weeks. It has not gone unnoticed by [&;]
    Bank Innovation

     
  • @fintechna 12:18 pm on September 22, 2017 Permalink | Reply
    Tags: , , , , Rise   

    The Rise of Alternative Data in the Lending Market 

    EXCLUSIVE &;  There were conflicting views on the importance of the FICO score at the PayThink Conference in Phoenix this week. While only some professionals were bold enough to say the standardized credit scoring has become marginalized, others maintained that it was here to stay. However, all agreed on the increasing potential of . For [&;]
    Bank Innovation

     
  • @fintechna 12:18 pm on September 14, 2017 Permalink | Reply
    Tags: , , , , , , , Rise,   

    Rise of APIs – Payments and Other Financial APIs See Huge Growth Spike 

    , or Application Programming Interface, have seen tremendous , especially in the finance space. The in numbers comes as no surprise with the ever-increasing number of startups as well as traditional and institutions rushing to integrate APIs in some form or the other. Other factors contributing to this growth, according to [&;]
    Bank Innovation

     
  • @fintechna 12:18 pm on August 21, 2017 Permalink | Reply
    Tags: , Rise, ,   

    The Rise of ‘Smart’ Authentication [SPONSORED] 

    It’s the 21st century marketing mantra: Never underestimate the power of ‘.’ We have ‘smart’ phones, ‘smart TVs’, a ‘smart’ doorbell and yes, even a ‘smart’ dishwasher. What about ‘smart’ ? Multifactor authentication strategies, while rising in popularity continue to be dogged by the tradeoff of usability and security. In other words, if authentication solutions [&;]
    Bank Innovation

     
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