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Banking

Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia

originally founded 24 Jan 2023

Taken over by Terence Creighton

Head of Retail Banking Delivery

GFT Financial

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Anna Antimiichuk Head of Communications, PhD at Corlytics

Regulators are intensifying their scrutiny of digital banks

Digital banks have transformed the financial industry in recent years bringing an attractive wave of innovation that reshaped customer expectations, prioritising user-friendly digital experiences, low fees, streamlined services and many other irresistible add-ons. These banks have leveraged technology to fill gaps left by traditional institutions,...

18 November 2024 /regulation /predictions

Terence Creighton Head of Retail Banking Delivery at GFT Financial

Migration in Banking Transformation Programmes: Key to Success

1. Introduction to Banking Transformation The ever-evolving financial ecosystem is making the transformation in banking more related to necessity than choice. It is about the transformation of legacy systems, the adoption of state-of-the-art technologies in core operations. The main objective of this transformation is to improve customer experienc...

16 November 2024 /retail

Luke Allchin Director - North America at RFI Global

US Housing Crisis: The American Nightmare

The US housing market has stagnated over the past two years, primarily driven by the economic consequences of high mortgage rates, affordability challenges, and slow construction growth. Though mortgage rates are beginning to ease for borrowers, they remain significantly higher than before. This shift has left many potential buyers on the sideline...

11 November 2024 /retail /markets

Raj Kumar Lead - Digital Marketing at Kumaran Systems

How Modernizing Mainframe Infrastructure Lowers TCO for Banks

For decades, mainframes have powered the core operations of banks around the world. They remain integral to banking processes like transaction processing, record keeping, and regulatory compliance due to their stability, scalability, and reliability. Even with their advantages, old mainframe systems can be costly and complicated. This is especiall

06 November 2024 /retail /cloud

Prashant Bhardwaj Innovation Manager at Crif

Digital Arrest: A New Frontier in Cybercrime and Its Ripple Effects on Consumer Trust

Digital arrest scams have emerged as a significant threat in the digital landscape, impacting consumer confidence and financial stability. These scams not only result in substantial financial losses but also erode trust in digital payment platforms, which is crucial for the growth of e-commerce and online banking. As financial institutions naviga

30 October 2024 /security /crime

Luke Allchin Director - North America at RFI Global

The Gig Economy and the Looming Retirement Crisis

The modern workforce is rapidly evolving, and with it, so is the way people plan for retirement. The days of working 9-to-5 in a full-time job with employer-sponsored benefits are becoming less common. Instead, we’re seeing the rise of the gig economy, where freelance, contract, and part-time work have replaced traditional employment for millions ...

28 October 2024 /wealth /retail

Kyrylo Reitor Chief Marketing Officer at International Fintech Business

KYC and AML procedures - how to ensure compliance with international standards

Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are essential components of a robust compliance framework for financial institutions worldwide. These procedures help to prevent financial crimes, protect the integrity of financial systems, and mitigate risks associated with illicit activities. By adhering to international standa...

24 October 2024 /payments /inclusion

Adam Preis Global Strategist at Ping Identity

How Identity Can Power CFPB’s Personal Financial Data Rights Rule

The Dawn of Open Banking in the U.S. “The CFPB’s final Section 1033 rule marks a pivotal moment for millions of consumers across the country [U.S.], who, for the first time, have a legally binding right to access and share access to their financial data,” Steve Boms, Executive Director, FDATA North America. “With the right consumer protections in...

24 October 2024 /retail /identity

Steve Morgan Banking Industry Market Lead at Pegasystems

Embracing the Future: Navigating Legacy Platform Transformation in Banking

In the ever-evolving landscape of the banking sector, the pressure to stay ahead of technological advancements while maintaining robust, secure services is a constant challenge. A significant aspect of this evolution is the overhaul of legacy platforms. As banks adapt to meet modern demands such as enhanced digital user experiences, streamlined pr...

23 October 2024 /ai /retail

Shiv Nanda Content Strategist at https://www.financialexpress.com/

Challenges and Opportunities for Conversational AI in Banking Today

Conversational AI is transforming customer interactions within the banking sector. By automating communication and personalizing user experiences, banks are adopting AI-powered chatbots, voice assistants, and other tools to streamline services. While the potential is vast, the technology also presents challenges. This article explores four major c...

17 October 2024 /ai