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Improving your Policy Admin, Claim Admin, Billing, Rating systems with cloud functionality. Back in the days, we are talking late 1960’s, early 1970’s, when CRM and ERP were viewed as interesting new concepts, process of standardisation and automation were the initial steps insurers adopted as a way to improve efficiency and reduce human error. Dur...
03 March 2021 /cloud /devops Digital Insurance Trends
The correct answer is ‘Yes’. Payment technology by VISA and MasterCard had no alternative 20 years ago. Credit or debit card as a customer ID, PIN for authentication, POS terminal to capture transaction details, private network based on ‘star’-like topology to transmit payment data, bank back-offices with poor 12x5 availability that required addi...
03 March 2021 /payments Fintech
The impact of the challenger banks on the financial services landscape has been widespread and deep. The dominance of the legacy banks has been challenged, and consumers have been shown that they no longer have to put up with poorly designed services and old-fashioned support. But the challengers are far from the final act in the ongoing fintech r...
03 March 2021 Embedded Finance
Across all industries, cloud-based technology is uprooting traditional IT operations, business models, and overall financial strategies. This is equally true when it comes to asset management, as the industry continues to shift towards technological innovation and digitization alongside the rest of the world. Using cloud technology for asset mana...
01 March 2021 /cloud Digital Banking Trends
The correct answer is ‘No’. Libra threatens banks as well as VISA and MasterCard. Actually, there is nothing wrong with Libra. This ‘stablecoin’ is just a fictious digital surrogate for money. Facebook aims to replace traditional or ‘fiat’ currencies like dollar, euro, yen, etc. with Libras in it’s own worldwide digital payment ecosystem. A Facebo...
01 March 2021 /payments Fintech
In February 2011, Bitcoin cost $1. 10 years has passed and BTC is $51,000. Having spent $100 to buy Bitcoins back then, you would have $5,100,000 today. This could be considered one of the best investments of the 21st century, unattainable for the stock market and other assets. After such a shocking takeoff, most people consider the lost profit and...
25 February 2021 /crypto Cryptocurrency Insights
A quick Google search on the global payments landscape will serve up a myriad of articles ranging from how Covid has accelerated the adoption of contactless and the rise of digital technologies, but also how financial crime is on the rise. Visa’s recent ‘Back to business study’ notes that the number one area of tech investment in 2021 will be in pa...
23 February 2021 /security /regulation Fintech
The offshore explosion The nineties saw an explosion in the deployment of offshore service centres, the most popular destinations being China, India, Malaysia, Indonesia, Philippines and Brazil. The main benefit of this dash to offshoring and outsourcing was seen as reduced cost, given the compelling lower staffing and real estate costs these lo
22 February 2021 /wealth /cloud Artificial Intelligence and Financial Services
Banking has traditionally been an industry slow to change. Our very concept of a bank has, until the last decade or so, remained consistent with the big, high street providers that define how we think of banks and banking. Of course, the advent of digital payments and mobile banking quickly changed all that. But while we’re now used to banks as vir...
22 February 2021 /payments Financial Transformation
A lot is being documented on how COVID has accelerated the digital banking and transformation agenda, as more remote channels have become the norm for everyday banking. Similarly, the pandemic has also had a very profound effect on payments, and ironically it is the way in which cash is used that is driving how future trends will shape up. For sev...
19 February 2021 /payments The Payments Business
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