Mobile banking is dead?
Today most banking customers use a single banking app to service all of his or her needs, but in the future, they may have one account and many apps as we are moving from transactions to experiences, Dharmesh Mistry, chief digital officer at Temenos, said. “Mobile banking evolved from internet banking, but the future is experience-driven banking, not mobile,” he said. Read his post in full here.
Open APIs bring a new financial order
Banking will be controlled by those organizations that can best utilize consumer insight to drive digital interactions, Jim Marous, co-publisher of The Financial Brand and publisher of the Digital Banking Report, said. “From removing friction from the customer journey to improving multichannel delivery and exploring the use of open APIs, data is the fuel that will power these initiatives,” he said in a recent interview.
AI in banking: 5 elements you should know
Many financial institutions are still unclear about what constitutes artificial intelligence, where it can be applied, and how to prioritize its use cases within the organization. Sanat Rao, chief business officer and global head of Infosys Finacle, put together a list of the five fundamental building blocks for AI in banking, from machine learning to natural language processing, with examples of their use in practice.
Bank tellers may be on their way out
Automating and reskilling workforce is a key requirement for banks going through digital transformation. New technologies could make back-end, front-office and manual roles redundant, but human interaction will be still needed, especially in retail banking. Getting the right balance of technology and human engagement is a challenge for tomorrow’s banks. Click here for more.