#CX / How banks can tailor retail advice to their customers

[Extracts from the article] … There is a tendency to believe retail financial planning advice must be feature-rich to be meaningful and achieve scale. In reality, the banks that are leaders on retail advice become successful before they finish rolling out all the features… Instead, they take a sequential and organized approach to rolling outContinue reading “#CX / How banks can tailor retail advice to their customers”

#FinTech #BankTech / What’s in store for financial services in 2021?

[Key takeaways from the article by Fintech Futures] …what the rest of this year might have in store for the world of financial services and fintech. Your marketing strategy will focus on Gen Z… For Gen Z, it is customary for birthday money to arrive via bank transfer, and for different APIs to track andContinue reading “#FinTech #BankTech / What’s in store for financial services in 2021?”

#CX / The Rise of the Hybrid Consumer in Banking (And Why It Matters)

More than ever, financial institutions must have a single view of the customer, collecting omnichannel data that allows for real-time personalization and decisioning across the organization. A customer data platform must support the ability to interact with the customer throughout their journey, in real-time, on the channel(s) they prefer for maximum marketing effectiveness. Online andContinue reading “#CX / The Rise of the Hybrid Consumer in Banking (And Why It Matters)”

#DigitalBanking #CX / The State of Banking in 2021 According to Bankers and Consumers

… Perhaps if there’s any silver lining in this past year, it’s that it has taught many financial institutions how to adapt to a digital-first environment — fast. Now it’s time to take all the learnings and lessons of this past year and apply them effectively to 2021. How aligned are consumers and financial institutionsContinue reading “#DigitalBanking #CX / The State of Banking in 2021 According to Bankers and Consumers”

#CX #BankTech / Cynergy Bank taps Google and Wipro to launch new digital banking project

Cynergy Bank has signed a partnership with Google Cloud and Wipro to create what it’s calling a new digital banking model. The new model promises to “transform banking” for customers. It offers a blend of digital technology and a traditional face-to-face relationship. Cynergy mentions professionals, mass affluents, and medium-sized businesses as those served best byContinue reading “#CX #BankTech / Cynergy Bank taps Google and Wipro to launch new digital banking project”

#CX #AI / Schwab Announces Patent Pending Data Analytics Algorithm

Charles Schwab has developed a patent-pending algorithm designed to improve client experience and make investing more accessible… Schwab’s proprietary algorithm analyzes billions of pieces of client data in order to detect clients’ intent and automatically adapt to client-led changes in behavior and Schwab-led changes in the user experience. This enables Schwab to understand what clientsContinue reading “#CX #AI / Schwab Announces Patent Pending Data Analytics Algorithm”

#PayTech / Fintech to install kiosks that exchange cash for prepaid Mastercard

XTM, a Toronto-based fintech company in the challenger banking space that provides mobile banking and payment solutions, will be installing cash-to-prepaid-card kiosks, or reverse ATMs, to large venues and stadiums across North America… Users will insert bills into the kiosk and in less than 60 seconds the deposit will be applied to an EMV andContinue reading “#PayTech / Fintech to install kiosks that exchange cash for prepaid Mastercard”

#DigitalTransformation / Urban FT Helps Banks Bridge Fintech’s Infrastructure Gap

Urban FT’s newly-launched X-35 FinTech Core will enable financial institutions to centralize their fintech infrastructure into a singular hub that sits beside and is connected to the bank’s existing core or payment processor. The API-based, developer-friendly technology helps FIs create and deploy new, innovative solutions to their customers faster and at significantly less expense. UrbanContinue reading “#DigitalTransformation / Urban FT Helps Banks Bridge Fintech’s Infrastructure Gap”

#CX / The Generational Divide Between Challenger Banks and Incumbents

…Are challenger banks successful because their tech-first approach satisfies consumers? Or are underserved consumers driving challenger banks to create new products and services that banks are unable (or unwilling) to offer? … both challenger banks and incumbents know their target market. That is, the challenger banks are catering to an audience looking for a differentContinue reading “#CX / The Generational Divide Between Challenger Banks and Incumbents”

#AI / Axis Bank rolls out AI-powered voice assistant

The bot, called Axaa, was developed in partnership with Vernacular.Ai and can converse with customers who call the bank in English, Hindi and ‘Hinglish’. Axis claims Axaa can recognise the intent and nature of customer queries, addressing most issues without the need for any human intervention. [Axis:] “This new technology will not only enhance customerContinue reading “#AI / Axis Bank rolls out AI-powered voice assistant”