Financial institutions (FIs) are still struggling to respond to the rise in digital banking adoption spurred by the pandemic. Consumers as well as businesses in markets from Europe, Mexico, the United States and the United Kingdom all shifted to online and mobile channels to interact...
Is it surprising to know that 55 percent of legacy financial institutions (FIs) report lacking maturity in core systems? Or that, on average, 15 percent of an FI’s annual operating costs go toward maintaining core banking systems that are outmoded? It’s true, but not for...
Digital banking tools’ use continues to rise as the COVID-19 pandemic wears on, and mobile banking usage in the U.S. has increased by 50 percent since the beginning of the crisis, for example. The rising demand worldwide has required FIs to manage a flood of...
Fifty-five percent of consumers say mobile is now their preferred way of interacting with their banks, but many financial institutions (FIs) still rely on infrastructure that’s fallen behind the curve, says Lindsey Grossman, director of product for challenger bank N26. In our latest Digital Banks...
Financial institutions (FIs) worked quickly to ensure they could operate smoothly as the pandemic kept consumers at home and closed brick-and-mortar branches in Europe, the United Kingdom and the United States. Many banks braced themselves for an oncoming surge in the number of consumers accessing...
No wonder a recent headline in The Motley Fool screamed “3 Top Cloud Computing Stocks to Buy Right Now.” The Virginia-based investing advice company wrote that one of the biggest beneficiaries of working at home during the COVID-19 pandemic has been cloud computing stocks. “Some cloud computing...
When Joni Mitchell wrote, “I’ve looked at clouds from both sides now …” she had no idea how popular the cloud would become 50 years later. In simple terms, cloud computing is storing and accessing data and programs over the internet instead of a computer’s hard drive. It’s...
Isn’t it surprising to know that 70 percent of financial institutions are just now adopting cloud computing solutions? Or how about this fact: over 90 percent of the world’s top 100 banks still use physical mainframes running 20th century style. So, what’s holding up the...
An expanding number of challenger banks have eschewed the industry’s traditionally slow and steady innovation approach. These banks are offering digital or mobile-only platforms powered by cutting-edge technologies like artificial intelligence (AI), biometrics and machine learning (ML) to fulfill users’ needs with greater speed and...
