Tag: BFSI

Outdated Payment Systems: Is Your Checkout Costing You Customers?

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Key Takeaways:

  1. Customer expectations for seamless, fast payments are rising sharply
  2. Maximum choice, including digital wallets and Open Banking, is essential
  3. Smart technologies, fully integrated, can help retailers maximize opportunities
  4. Expert tech support is vital to turn concept into successful reality

As the world of retail continues to evolve, modern technology has a vital role to play in helping customers pay as easily and quickly as possible. And this applies just as much at checkouts in physical stores as it does when buying goods and services online. Amazon’s cashless stores, based on ‘just walk out’ technology, are an excellent example of how technology can completely transform even the most everyday shopping experiences.

Outdated Payment Systems_ Is Your Checkout Costing You Customers_

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7 Key Trends in AI for Open Banking to Watch in 2025

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Key Takeaways:

  1. New AI innovations are transforming Open Banking
  2. Smoother data flows and greater personalization stand out
  3. Detailed insights can drive more intuitive services
  4. Customers benefit from greater visibility and control

7 Key Trends in AI for Open Banking to Watch in 2025

At least 100 million Americans have already entered the world of Open Banking by granting third party access to their account data. But as this is only around 30% of the total population, there’s still more to be done to encourage and enable Open Banking adoption.

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User Experience Matters: 7 UX Principles for Modern Mobile Banking Apps

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Key Takeaways:

  1. User experience is increasingly important
  2. Simplicity, speed and security are core elements
  3. Consumers want more app personalization and autonomy
  4. New innovations are key for competitive advantage

User Experience Matters: 7 UX Principles for Modern Mobile Banking Apps

User experience has never been more important in mobile banking. Now more than ever, users expect to use applications that are fast, intuitive, and highly capable of dealing with even complex tasks like loan and mortgage applications.

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Fintech Innovations: Software Solutions for Fraud Prevention in Finance

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Key Takeaways:

  1. Cybercrime and fraud is a pressing issue for FinTechs
  2. Fraud prevention and detection should go hand-in-hand
  3. AI can be instrumental in spotting unusual patterns of behavior
  4. Human education and best practice should also be considered

Fintech Innovations: Software Solutions for Fraud Prevention in Finance

Digital transformation is proving to be a real game-changer in the finance world – but increasing adoption also means increased risk of fraud. According to Gartner, nearly 80% of finance organizations have invested in artificial intelligence technologies, but only a quarter have a mature AI strategy in place.

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Exploring Growth Opportunities Using Data: How Banks Can Tap into Payments Data

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Key Takeaways:

  • Data is essential for informing banking firms’ future growth
  • Insights can uncover customer trends, compliance risks and more
  • Understanding how to improve can drive competitive advantage
  • Innovation and analytics must be balanced with robust security

Growth Opportunities Using Data: How Banks Can Tap Into Payments Data

Data is becoming the lifeblood of businesses all over the world, but the banking and finance sector is one where it can make a particularly big difference. It can unearth new levels of insights into customer behavior and preferences across billions of transactions and functions, enabling better decision-making around more intuitive, user-friendly and personalized solutions that drive competitive advantage.

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Addressing the Rising Threat of e-KYC Deepfakes in Finance and Banking

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As the financial sector grapples with evolving threats, the synergy between population-scale blockchains and verifiable credentials is emerging as a critical solution to counter the rising menace of GenAI-generated deepfakes, particularly in electronic Know Your Customer (e-KYC) processes.

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A Comprehensive Guide to Choosing the Right Payment Gateway Integration Services

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Key Takeaways:

  • Payment gateway technology is essential for successful retail operations
  • Smooth, fast payments through a choice of methods deliver stronger customer experiences
  • Security, compliance and flexibility are key to a good solution
  • Good payment gateway providers can support with expertise and integration

A Comprehensive Guide to Choosing the Right Payment Gateway Integration Services

The best eCommerce experiences around are those that deliver the most seamless, intuitive and stress-free experiences, all the way through the customer journey. Towards the end of that journey, payment gateways have a key part to play in enabling those experiences.

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Top 7 Use Cases of Generative AI in Finance and Banking

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Key Takeaways:

  • Generative AI’s use cases in finance are expanding all the time
  • GenAI supports speed, efficiency, accuracy, compliance and more
  • Data privacy, ethics and bias concerns should be addressed
  • Having the right expertise to guide a GenAI deployment is essential

Top 7 Use Cases of Generative AI in Finance and Banking 

Generative AI is continuing to make waves throughout the business world. Its applications in industries where written and visual content are especially important to normal operations, have become well-established.

However, generative AI is also making a real difference in sectors where its use might not be as obvious, including in banking and finance. This blog explores the role of GenAI in finance, and how artificial intelligence is powering innovative financial AI innovations.

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How BFSI Companies Are Winning with Cloud Financial Services

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Transformative Effects of Artificial Intelligence on Financial Services

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Introduction

According to a global survey conducted by McKinsey in 2021, 56% of financial institutions have embraced artificial intelligence (AI) in various operational aspects. This survey has shown a profound evolution within the industry, where AI is increasingly recognized as a catalyst for innovation and efficiency.

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