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How Onboarding Automation Creates Inclusion, But AI Still Needs Strategic Oversight

/ai

How Onboarding Automation Creates Inclusion, But AI Still Needs Strategic Oversight

Speaking to FinextraTV at Sibos in Frankfurt, Andy Schmidt, Vice President, Global Industry Lead - Banking, CGI, expressed his belief that one of the key value gains from AI is within the automation of onboarding processes. Schmidt explains how the automation of data collection, fraud detection and onboarding creates a more inclusive environment for mobile-first customers who are more reluctant to deal with physical branches and people. Noting a sustained rise in demand for digital acceleration, Schmidt outlines the vast benefits of AI, but warns against being lulled into a false sense of security, stressing the importance of human strategic oversight still being intrinsically involved.

/retail

Diebold Nixdorf unveils branch automation suite

Diebold Nixdorf (NYSE: DBD), a global leader in transforming the way people bank and shop, is launching its new Branch Automation Solutions portfolio as an expanded services suite, designed to help financial institutions (FIs) improve efficiency in their physical channels, while delivering a seamless, omnichannel consumer experience.

UK banks closed third of branches in last five years

/retail

UK banks closed third of branches in last five years

The number of bank, credit union and building society branches in the UK has fallen by more than a third over the last five years.

/retail

Truist targets high-growth markets with significant multi-year branch investment

Truist Financial Corporation (NYSE: TFC) today announced a significant strategic growth investment over the next five years to attract new and grow existing client relationships in some of the strongest growth markets in the country.

Maybank signs RM1bn digital transformation deal with Microsoft

/cloud

Maybank signs RM1bn digital transformation deal with Microsoft

Malaysia's largest financial institution Maybank, has agreed a deal with Microsoft that will see the tech firm spearhead the bank's digital transformation

UK's high street banks see profits fall as online rivals gain ground

/predictions

UK's high street banks see profits fall as online rivals gain ground

High street banks in the UK have seen their profits drop in 2024 as customers opt for alternative lenders and online banks offering both higher savings rates and more digital services.

/retail

NAB invests in branch network

In a time when many banks are scaling back their physical presence, NAB is doing the opposite – breathing new life into its branch network and reaffirming its commitment to face-to-face banking.

/retail

Lloyds signs for NCR Atleos ATMaaS tech

NCR Atleos Corporation (NYSE: NATL) (“Atleos”), a leader in expanding self-service financial access for financial institutions, retailers and consumers, today announced that Lloyds Banking Group has chosen Atleos’ ATM as a Service (ATMaaS) proposition and latest technology, to introduce exciting branch modernization into its Manchester and Glasgow flagship locations.

Santander to acquire TSB for £2.65 billion

/retail

Santander to acquire TSB for £2.65 billion

Santander has reached an agreemenet to acquire UK lender TSB from Banco Sabadell for £2.65 billion in an all-cash transaction.

NatWest announces further branch closures

/retail

NatWest announces further branch closures

NatWest has announced another 52 branches will shut this year, bringing the banking group's total planned closures to 105.

LHV survey: Digital banks should pass savings from not operating physical branches to consumers

/retail

LHV survey: Digital banks should pass savings from not operating physical branches to consumers

As the cost-of-living crisis continues, new research from LHV Bank reveals that 46% of UK adults are struggling to save regularly, despite reported income increases for nearly a third of the population.

Modern Banks Must Adapt to be More 'Phygital'

/retail

Modern Banks Must Adapt to be More 'Phygital'

Describing the evolution of modern banking, Sovan Shatpathy, SVP, Product Management & Development, Oracle Financial Services joined the FinextraTV virtual studio to explain how banks can thrive. As well as contextualising the current landscape and offering insights into the way that banks are now focussing more intently on the customer journey, Shatpathy asserts that all banks cannot be physical or digital, they must be 'phygital'.

/wealth

JPMorgan Chase oepns new format branches to cater for affluent customers

JPMorganChase today announced it is expanding its affluent banking offering by opening 14 new J.P. Morgan Financial Centers across four states, bringing a uniquely tailored and high-touch experience to millions of potential clients.

/retail

BofA to open more financial centres

Bank of America will open more than 150 new financial centers across 60 markets by the end of 2027, including 40 this year and an additional 70 in 2026.

UK Post Office and banks ink new cash access deal

/inclusion

UK Post Office and banks ink new cash access deal

The UK's Post Office has signed a five-year partnership agreement with the country's banks and building societies to provide millions of people and small business with access to cash.

/retail

Bank of Ireland begins rollout of c.650 new ATMs as part of €60m investment in branch network

Bank of Ireland has begun the replacement of its entire ATM fleet as part of a €60 million investment in ATMs and branch improvements.

Deutsche Bank to cut 2000 jobs through branch closures

/retail

Deutsche Bank to cut 2000 jobs through branch closures

Deutsche Bank will make "significant" cuts to its branch network this year, affecting around 2000 jobs.

Santander to shut almost a quarter of UK branch network

/retail

Santander to shut almost a quarter of UK branch network

Santander is set to reduce its UK branch network by nearly a quarter, shutting 95 branches and putting 750 jobs at risk

Lloyds to cut UK jobs, shift IT skills to India - FT

/people

Lloyds to cut UK jobs, shift IT skills to India - FT

Lloyds is planning to cut hundreds of permanent IT employees working in the UK, whilst simultaneously hiring IT engineers in similar roles in India.

/people

Swedbank Robur appoints Maria Rengefors to board

As of March 6, 2025, Maria Rengefors has been appointed as a new board member of Swedbank Robur, expanding the board to a total of six members. She brings extensive experience from the financial and asset management industry, including her previous role as Head of Branch at Nordea Funds.

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