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This author Xtensifi has created 43 entries.

How Will FIs Leverage Open Banking in 2020?

The open banking platform will eventually change the entire banking ecosystem – from the products and services offered, to the delivery channels and third-party partnerships.  These changes will affect and redefine customer experiences and expectations.  Third-parties will have the ability to use customer’s shared data to identify the best financial products and services for them. Additionally, FIs can utilize open banking technology to strengthen customer relationships and customer retention by better helping customers to manage their finances instead of simply

The Rise of Conversational Interfaces

Chatting with a computer through a company’s website is not really a new technology. The first chatbot was developed at MIT back in 1966. It was called ELIZA and is considered the mother of all chatbots. The tool used a decision tree to answer simple questions for users without human assistance. Eventually, the technology was adapted for use in automated telephone systems, where it quickly became universally hated by consumers. But it also saved companies a great deal of money by

5 Considerations for Lenders Going Digital

As lenders continue to digitize the lending process, they are beginning to enjoy a number of powerful benefits, including better decisions, improved customer experience, and significant cost savings. But as McKinsey Partner Gerald Chappell has pointed out, “It is also a complex and challenging project.” But that doesn’t mean it can’t be managed effectively. Lenders moving down the path to digital have been most successful when they keep 5 key points in mind as they planned their journey. Do the right

Moving to Microservices The Trend Continues

One of the biggest technology trends in 2017 and 2018 was the movement toward microservices architecture, in which complex applications can be broken down into small, independent processes that communicate with each other using standard APIs. The trend is expected to continue through 2020 and shows no signs of abating, as more and more companies seek to be as agile as possible in their development and delivery. What Are Microservices? In computing, microservices are small building blocks that focus on doing a

The Changing Face of Digital Business Banking

Traditional banks and credit unions are finding their small business customers, an important component of their businesses, are targets of aggressive competitors. With 30.2 million small businesses in the U.S., these firms account for 99.9% of all American business and create nearly half of the nation’s Gross Domestic Product. They are a valuable source of business if they are properly served. Whether it’s payment processing, small business lending or digital banking, there are now a host of competitors offering these services

Case Study: Taking a Top 20 Bank Online

Financial institutions of all sizes are looking to migrate their business into the cloud due to the many advantages to this strategy. However, migration is a momentous task, particularly for business banking applications, not least because a tremendous amount of data is involved. These challenges are amplified for larger institutions. In fact, a great test of a migration tool is to test it on one of our nation’s largest banks. That’s exactly what happened recently when one of Xtensifi’s clients,

Xtensifi joins SAP PartnerEdge Program to Elevate Fintech and Ebanking Solutions

Atlanta, August 8, 2019 – Xtensifi, a digital consulting firm that enables financial institutions to implement their mobile and cloud-computing strategies, announced its official membership in the SAP PartnerEdge program. Through this program, Xtensifi has access to fast-growing markets where they can offer requested fintech and ebanking solutions. SAP SE, which was recently ranked No. 1 ERP software vendor by revenue in Gartner’s Market Share Analysis report, is a German multinational software corporation that produces software for business operations and customer relations. The company’s PartnerEdge

mobile-banking-deposits

How Banks Are Driving Deposits Now

Mid-tier regional banks, community banks and credit unions are under increasing pressure from larger, national banks intent on luring away their customers. Seeing their deposits pulled away by these competitors is one of the most ominous trends in the industry right now. To put the problem in perspective, whereas average annual deposit growth industry wide is 4.6 percent, JP Morgan Chase, one of the nation’s largest banks, has seen its deposits grow 9.5 percent since 2014. Other large national banks,

Offering Personalized Digital Offerings with Better Data and Automated Intelligence

Offering Personalized Digital Offerings with Better Data and Automated Intelligence

Today’s consumer is accustomed to constantly being connected via mobile, social media, and real-time technology. With the increased use of on-demand applications and services and the influence of social media, the way people connect, share and communicate has resulted in more demanding customers requiring a high level of service.  They expect personalized services in a timely manner delivered the way they work themselves. It should not be news that consumers compare their online banking experience to every other online experience they are offered. Banks that don’t measure up

Where to Focus Your Digital Investment?

Where to Focus Your Digital Investment?

Nearly every management team working in financial services today is focused on the digital channel. It has become a competitive mandate. According to a recent Accenture North American Consumer Digital Banking Survey, virtual banks and payment providers saw a net 15 percent gain in new customers in the past year. Banks must continue to refine and expand their digital capabilities or be left behind. But where to start? We’ve been watching this space closely since 2009, providing strategy and