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Transformation
More than ever, digital transformations have been impacting every industry at an unprecedented rate. Many Financial Institutions have adopted some form of digital innovation while others are leveraging several solutions powered by emerging technologies (such as AI, ML, NLP and more), yet less than half of 43% corporate banking executives surveyed by BCG have a comprehensive digital strategy...
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The Payment landscape in the US is experiencing digital innovations. In a recent Accenture report detailing five important payment trends to keep in view, “about 64 percent of North American consumers plan to use a mobile wallet by 2020—a 39 percent rise in the user base in three years”. Mobile wallets enable financial institutions to provide efficient customer...
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Enterprise renovation usually involve putting different systems in place to ensure operational efficiency and effectiveness. For instance, a recent report from EY surveyed 250 C-level executives at FIs across the globe, stated that 65% of executive’s enterprise saw increase in revenue, 62% witness improved customer experience and 60% experienced innovative services due to their enterprise...
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Financial Services are experiencing AI application in three major areas: Firstly; Machine Learning; to produce propensity models. Banks and insurance companies are putting machine learning on websites or mobile channels for real-time target marketing. ML predict the product propensity of their customers based on their behavioural data in real-time. Secondly, it is applied around natural...
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