Tagged: Retail Banking

NatWest and IBM to Support Generative AI Initiative to Enhance CX

NatWest and IBM (NYSE: IBM) announced enhancements to the bank’s virtual assistant, Cora, that will use generative AI to provide customers with access to a wider range of information through conversational interactions. The bank will be among the first in the UK to deploy generative… Read More

Mutual Vision Chooses Mambu to Improve Digital Banking Solutions for UK Building Societies

Mutual Vision, a community-owned technology provider, announced it will adopt Mambu’s cloud banking engine. Mambu will “underpin Mutual Vision’s services and bring a unique proposition to its expanding customer base of 27 building societies and banks in the UK.” Mutual Vision provides “a digital platform… Read More

Fintech Appro, which Digitizes Retail Banking Services, Launched in Dubai by SC Ventures

SC Ventures recently revealed that it has introduced Appro, which is a Fintech that digitizes and enhances the retail banking customer experience. Supported by SC Ventures, Standard Chartered’s Fintech investment and ventures unit, the “bank-agnostic” platform intends to signifiantly reduce the time taken to finalize… Read More

Bulder Bank Teams Up with Snowdrop to Improve UX via Data Enrichment Services

Norwegian financial services provider Bulder Bank has officially introduced new enriched data transaction services for their retail banking clients. Powered by Snowdrop’s Merchant Reconciliation System API, the new service transforms previously messy payment data and instead “returns enhanced and intuitive information that displays the clean… Read More

Retail Banking Report: Incumbents Must Embrace Data-Centric Capabilities to Support Personalized User Experiences

Retail banks are currently “lagging” in their ability to offer “true” omnichannel experiences, as customers pivot to competitors that “offer more personalized experiences.” This, according to the latest World Retail Banking Report 2022 (WRBR) released by Capgemini and Efma. As noted in the update, 75%… Read More

Sweden-Based Retail Banking Subscription Software Management Business Minna Technologies Scores €15.5 Million Through Series B Funding Round

  Minna Technologies, a Sweden-based subscription software management business, has secured €15.5 million through its Series B investment round, which was reportedly led by  Element Ventures, with participation from MiddleGame Ventures, Nineyards Equity, and Visa, Launched in 2016, Minna Technologies is an FSA authorized FinTech… Read More

India’s MyMoneyMantra, a Physical and Digital Marketplace for Loans, has Helped Millions Navigate World of Personal Finance

Raj Khosla, the founder and MD at MyMoneyMantra (MMM), which claims to be India’s largest “phygital” (physical-digital) marketplace for loans and credit cards, says that his company has consistently earned substantial revenue since its inception in1989. Khosla began his loan distribution business over 30 years… Read More

60% of Major Global Banks have Shortened Opening Hours of Branches, Many Banks Offering Fully Digital Processes: Report

Digital Banking Maturity (DBM) is a global accelerator that assists banking institutions with responding to change. Digital Banking Maturity is the largest global digital banking study, offering an extensive “outside-in ’mystery shopper’ assessment of retail banks’ digital channels and furthering discussion about future developments,” according… Read More

UAE’s Ministry of Finance Partners with Local Banks to Offer Digital and Contactless Payments for Settling Government Service Fees

The UAE’s Ministry of Finance will be working with the First Abu Dhabi Bank (FAB) in order to launch electronic or digital Dirham contactless payments cards for settling governmental service charges. The eDirham has been set up as a system of digital channels that are… Read More

Forrester Report Gives Fintech Finastra Highest Score for its Core Banking Solution, Just Months After it Experienced a Security Breach

Finastra, a financial services software provider, has been identified as a leader in “The Forrester Wave: Digital Banking Processing Platforms (DBPP) (Retail Banking), Q3 2020” report. Forrester is an independent research company. It included 10 other service providers in its recent evaluation report, and claims… Read More

AI and Machine Learning Algorithms are Increasingly being Used to Identify Fraudulent Transactions, Cybersecurity Professional Explains

The retail banking sector has been hit with numerous scams during the past few years. Cybercriminals are now also beginning to increasingly go after much larger corporate accounts by launching sophisticated malware and phishing attacks, according to Beate Zwijnenberg, chief information security officer at ING… Read More

Video Banking Services are Becoming Popular, Following COVID-19 Outbreak and Newly Adopted Social Distancing Measures

Video banking has become increasingly popular during the past few years. It’s quite possible that it will be adopted by even more consumers, due to the Coronavirus (COVID-19) outbreak, which has led to many people practicing social distancing. A recent report from research firm Retail… Read More

Digital Transformation: Retail banks that Diversify by Offering More Online Services will Survive COVID-19 Pandemic, a New Report Claims

One out of eight retail banks will most likely face substantial losses this year due to the Coronavirus (COVID-19) outbreak and associated economic problems, according to Kearney’s European Retail Banking Radar. The consultancy company noted that revenue for retail banks is expected to decline by… Read More

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