FedNow has gone live successfully on July 20, 2023, with around 30 early adopters, settlement agents and certified service providers. A majority of businesses (83%) and consumers (75%) are already using faster payments, and…
Traditional banks are losing their hegemony to a new generation of digital-only banks with no physical presence. These digital apps are changing the way customers think about banking. Although Neobanks have existed since the early…
Both traditional and digital financial institutions have been steadily striving to align their products and services with customers’ evolving needs and expectations. Regardless of the nature of banking, the eventual aim is to embed banking…
A survey by Foresight Research stated that the number of customers leaving their current financial institution to a new one is 27% between 2020 and 2022 as compared to the pre-pandemic times which was 12%.…
The tale of the rise of digital banking is a long narrated one and banks have understood the importance of the same. This has led to the challenger banking revolution and their unsurmountable rise is…
Gen Z or Zoomers are the set of customers that many industry experts and businesses are focusing on since they are often “most educated”, “empathetic”, and “politically aware”. In fact, they want businesses to modify…
Unlike in history, the term ‘legacy’ does not sound good or holds much value when it comes to relying on legacy systems in banking or any industry for that matter. When legacy or conventional methods…
In the Internet era, the evolution of banks has inexorably moved from the traditional banking value chain to the transformative “Anytime, Anywhere” business model. Personalization has become the inevitable force for banks to attract the…
Los bancos tradicionales están perdiendo su hegemonía, esto a causa de una nueva generación de bancos digitales que no cuentan con un edificio construido con “ladrillos y concreto”. Dichas aplicaciones digitales se encuentran revolucionando el…
Remember those days when we had to stand hours in an ATM queue to withdraw cash? Imagine such a situation now- do you still prefer long queues or would like to go cashless? The obvious…
La tasa de bancarización en México es relativamente baja en comparación con otros países de América Latina. De acuerdo con la Encuesta de Inclusión Financiera del Banco Mundial de 2011 acerca de los sistemas bancarios…
Ha salido a la luz que las principales entidades crediticias del Reino Unido han incumplido los plazos en torno a las normas de la banca abierta (open banking). ¿Acaso las instituciones financieras están retrasando el…
