Posts tagged with Banking

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.

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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.

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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.

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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?'

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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.

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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?

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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.

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Bank Head Office Building

What's the future for big banks in a FinTech world?

There's a huge amount of hype flooding the web about new startup fintech companies and how they're going to change banking forever.

Could it be true? Are the days numbered for Britain's big four banking groups? Could they crush these upstarts before they get off the ground? Or is there a third way? 

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Five ways the financial services sector can increase customer lifetime value

Global investment in fintech startups is skyrocketing, reflecting a worrying trend for established financial services firms.

Customers are increasingly flocking to a new generation of companies that seek to redefine how consumers save and spend money. 

From payments to loans to insurance, established brands are under assault from all directions, but that doesn't mean they can't stem the tide, solidify customer relationships and increase customer lifetime value.

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How Barclays generates interest with content marketing

Content marketing is the axiom we all live and die by in the current digital marketing world, if you’re not producing content and marketing it successfully, then "the present is no place for you, Grandad".

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How can HSBC improve its social media engagement?

How does the ‘world’s local bank’ handle global social media? 

When I began writing this post, I'd intended to take a quick tour around HSBC's social channels and look at how one of finance's (and the world's) largest brands manages to communicate across so many distinct markets. 

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How First Direct handles social customer service

It matters little whether you’re a shoe retailer or an online bank, if your brand operates a social channel, consumers will want to talk to you on it.

As I discovered in last week’s investigation into how 20 top UK retailers handle social customer service, the most successful brands are the ones that are not only quick to respond, but also genuinely helpful and clearly written with personality.

This is all well and good in retail, where perhaps it’s more acceptable to adopt a more relaxed, fun tone of voice, but how difficult is it for a financial services brand to not only maintain an efficient customer service channel that fully complies with banking regulations that’s also human?

Today I talked to senior communications manager Amanda Brown at First Direct to gain some insight into how the online and telephone based bank handles customers on social. 

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