Futuristic Banking

Stuff that's out there in the way out and beyond in banking.

Freddie McMahon Director Strategy and Innovation at DF2020 Ltd

THE AI AND CHATBOT OPPORTUNITIES FOR FINANCIAL SERVICES LEADERSHIP

A recent PWC Study identified the following top sectors at potential high risk for automation: 63% Water, sewage and waste management 56% Transportation 46% Manufacturing 44% Wholesale and retail trade 32% Finance and insurance 32% Public administration and defence 32% Electricity and gas supply However, the study states th...

18 August 2017 /ai

Retired Member 

Open Banking: A FitBit Style of Change

“Buy the ticket, take the ride.” Hunter S. Thompson’s quote can easily be applied to Open Banking, which becomes mandatory in the UK starting 2018. Banking innovation lead by the regulator! It’s reminiscent of the Monty Pythons’ line of what has the Romans (regulators) done for us? Well the regulatory gave the banking industry and its clients real...

01 June 2017

Sameer Singh Jaini CEO at www.TheDigitalFifth.com

We are Missing Steve Jobs in Banking

“Design is not just what it looks like and feels like. Design is how it works.” Steve Jobs As we look around, we are seeing innovations and frictionless customer experience coming from multiple industries. iPhone / MacBook / Ola / Uber / Google / Amazon are taking our experience to the next level. AI / Blockchain / RPA / API technologies are goin...

01 June 2017 /retail

Retired Member 

Heraclitus and the Future of Commercial Banking

Let’s clarify this before I lose anyone; the self-proclaimed “pioneer of wisdom,” noted Greek philosopher Heraclitus, is credited with the saying Panta rhei, "everything flows." More commonly, you have probably heard this as “the only constant is change,” but either way, this teaching has withstood the test of time, as it is not only app...

12 May 2017

Retired Member 

Chatbots, an Effective Way of Dealing with Customers and Fintechs

Banking has it tough. Today's customers are in charge while banks are facing many threats at the same time. Luckily, there is a simple solution to both of these challenges – chatbots. Today's customers are in charge Millennials are one of the largest generations in history and are about to move into their prime spending years, which is why their ...

04 May 2017 /payments

Retired Member 

Before they move us, we move them

That is a slogan. Of a global multinational company. That for four years operated under Chapter 11 bankruptcy - the largest and longest bankruptcy case in the history of that industry. A couple of years after the company emerged from that protection, it upset one of its customers. That unpleasant incident could have been resolved in a matter of day...

14 April 2017

Alex Bray AVP, Omni-Channel Acquisition & Servicing at Genpact

Are there branches in the Star Trek universe?

The big news in U.K. retail banking last week was that the Royal Bank of Scotland is planning to close another 158 branches. The bank states that basic transactions have fallen by 43% in 7 years. Yet again, this announcement throws into relief the old discussion about the place of the branch in an omnichannel world. There's been much written on bo...

27 March 2017 /retail

Retired Member 

When Alexa met Spencer: AI's having conversations...

http://tem.mn/A1-ch4tbot See the demo. Though only a mere two months into the year, it already seems certain that 2017 will be the year of chatbots and AI. The rising prominence of chatbots and AI and the opportunity the technology presents to greatly improve upon the quality of interaction between consumers and their digital devices is not to ...

22 February 2017

Retired Member 

Building a case for Banking of Things

Building a case for Banking of Things The networked economy of devices could hold promise for accelerating both banking services and operations to the next level of seamlessness On the one hand, rising operating costs have led banks to explore technologies that could reduce the cost of operations and increase revenue while minimising costs. On the ...

18 February 2017 /retail

Ed Daniel Senior Consultant, getting old you know ;-) at esdaniel.com

How many Ts is that?

Noting the news last night it's not a great time to be associated with banking and as such the professional community will seek solace amongst its members. So, during this period of kinship and support perhaps some managers will study how the renewed trust in peers and colleagues can be put to good use. Transparency creates trust, trust facilitates...

26 March 2009 /retail