Category: Finance

The financial sector is undergoing a massive change as new technologies and innovations are disrupting the traditional ways of banking and providing financial services. Fintech, or financial technology, is the term used to describe the use of digital platforms, software, and applications to offer faster, cheaper, and more convenient solutions for customers and businesses. Fintech has been growing rapidly in recent years, especially in Asia, where the demand for financial…

The banking sector is undergoing a major transformation with the adoption of digital technologies and innovations. Smart banking is a term that refers to the use of advanced tools and solutions to enhance banking operations and customer experience. In this article, we will explore what makes banking smart and how it is changing the financial landscape. The rise of cloud computing in banking One of the key technologies that enables…

Leatherback, a neo-banking platform for individuals and businesses, has launched its mobile app in the UK, making it easier for migrants and businesses to remit funds and conduct cross-border transactions in over 15 currencies across 21 different countries. The app, which is available for both iOS and Android devices, aims to provide a fast, secure, and low-cost alternative to traditional money transfer services. What is Leatherback and how does it…

India is attracting the attention of global banks as a potential growth market, especially in the wake of the China-Plus-One strategy that many multinational corporations are adopting. Several foreign banks are expanding their presence and offerings in India, hoping to tap into the opportunities in the private banking, investment banking and asset management segments. India’s Financial Sector: A Watershed Year According to a report by finews.com, 2023 is panning out…

Backbase, a leading provider of digital banking solutions, is hosting its annual conference, Backbase ENGAGE, in three different regions: EMEA, Asia, and Americas. The event aims to inspire banks and credit unions to make the “Big Shift” from traditional to engagement banking, by leveraging omnichannel engagement orchestration and journey-led progressive modernization. What is the Big Shift? The Big Shift is the transition from traditional banking, which is product-centric, siloed, and…

Online bank fraud is a serious threat to the security and privacy of customers and financial institutions. According to a report by TechBullion, online bank fraud increased by 159% in 2020, reaching a total value of $1.85 trillion The report also highlighted the various types of online bank fraud, such as phishing, identity theft, account takeover, card cloning, and money laundering. The Challenges of Online Bank Fraud Prevention One of the…

The COVID-19 pandemic has exposed the weaknesses in the recovery plans of many banks in Europe, as they struggle to cope with the financial impact of the lockdowns and the economic slowdown. The European Central Bank (ECB) has urged banks to improve their recovery plans and make them more operational, as they face the risk of losing their liquidity and capital buffers. What are recovery plans and why are they…

Amplify Credit Union, a $1.4 billion financial institution based in Austin, Texas, has announced a new community banking program that aims to provide personalized and accessible financial services to its members. The program is part of the credit union’s vision to reimagine the banking business model and promote financial inclusion. Partnering with Workforce Solutions Capital Area The credit union has partnered with Workforce Solutions Capital Area, a local organization that…

The banking industry is undergoing a profound transformation as new technologies and changing consumer preferences enable new forms of value creation and exchange. In the future, banks will have to embrace value, not just money, as the core of their business model. Value is More Than Money Traditionally, banking has been centered on money as the primary medium of exchange and store of value. However, money itself is being unbundled…

The rise of digital banking in Africa Africa is witnessing a rapid transformation of its financial landscape, driven by the emergence and expansion of digital banking. This technological revolution is reshaping the way people access and use financial services, offering convenience, affordability, and personalisation. Digital banking refers to the provision of banking services through online platforms and mobile applications, often leveraging data and artificial intelligence to deliver tailored solutions. Digital…