Posts tagged with Banking

robot creation of adam

Robots or humans: Which provide a better customer experience?

Last month, China Construction Bank (CCB) opened the first fully-automated bank branch in China.

Located on Jiujiang Road in downtown Shanghai, the ground-breaking bank branch operates entirely without human tellers. It joins an increasing number of retail outlets, restaurants and other venues across China – and the world – where humans are served exclusively by robotic assistants.

3 comments
piggy bank

How banks are using big data & segmentation to lure depositors

Interest rates are on the rise in the US and banks, eager to lure depositors, are finally beginning to increase the rates they offer depositors.

Sort of.

1 comment

Goldman Sachs buys personal finance & budgeting app to bolster its growing retail banking business

If you can't beat 'em, buy 'em.

For years, many large companies have employed that approach in their digital efforts with varying degrees of success. But in the world of fintech, it would appear that even if you can potentially beat 'em, some companies are still willing to buy 'em.

0 comments

DBS Bank now earns twice as much income from digital customers

Singapore's DBS Bank, the largest bank in Southeast Asia, is profiting from its digital investments in a big way.

At an investment conference, DBS CFO Chng Sok Hui revealed that the bank now generates double the income from digital customers as it earns from traditional customers.

0 comments

Banks set to release money management apps as UX change spurred by Open Banking

While six of the U.K.'s biggest banks have been given until March to adopt Open Banking for most of their customers, the writing is on the wall: large retail banks will be forced to compete differently.

In response, a number of them are gearing up to launch apps that help their customers manage their money.

1 comment

TD Bank's acquisition of an AI firm highlights the growing importance of AI in banking

Last week, TD Bank, the second largest bank in Canada, announced that it is acquiring Layer 6, a prediction and personalization platform.

The deal highlights the growing importance of artificial intelligence (AI) to banks that are trying to stay ahead of the curve as they face digital disruption from fintechs.

0 comments

Fintechs and banks to partner in 2018 thanks to Open Banking

As 2018 fast approaches, there's reason to believe that one of the biggest trends that will be seen in the banking industry in the UK next year is a tighter relationship between big banks and fintechs.

That's because on January 13, Open Banking comes into effect.

1 comment

Special bank charters could shake up the US fintech market

Fintech companies are already disrupting established financial services institutions in markets like banking and auto lending, but their future fortunes could be based in large part on government policy.

On that front, one of the biggest regulatory developments in years could be on the horizon in the United States.

0 comments
monzo

Prudent UX for banking? Monzo designs 'positive friction'

How does digital technology enable the customer to manage their finances? Does your banking app check up on your spending?

The mobile is the device that should have transformed the way consumers manage their finances. And though there is now a slew of transfer/payment apps, and many banking apps are some of the slickest you'll ever use, their functionality rarely addresses a very common customer need - 'How can I protect myself from spending too much?'

2 comments

Five ways fintech upstarts are disrupting established financial institutions

Fintech startups have major financial institutions in their sights.

From banking to payments to lending, upstart companies are increasingly attempting to compete with companies that have been around far longer and that have far more money than they do.

0 comments

Fintech startup Mondo provides slick, impressive UX: Review

Mondo has been billed as "a bank that’s as smart as your phone. Built for your smartphone, this is banking like never before."

The "easy-to-use' app apparently updates your balance instantly, gives intelligent notifications and aspires to be the best bank on the planet.

Well, how could I resist?

0 comments

What banks can learn from Mondo's record-breaking £1m crowdfunding campaign

Mondo Bank has a long journey ahead of it as it seeks to become the Facebook or Google of banking as venture capitalist Eileen Burbidge envisions.

But it took the upstart bank just 96 seconds to raise £1m from 1,861 people through a crowdfunding campaign on Crowdcube.

Thousands more would-be investors were left out, demonstrating that there's significant demand on the part of everyday consumers to invest their own money into building the bank of the future.

0 comments