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COVID-19 and its Influence on Digital Banking Trends, Part 2

COVID-19 and its Influence on Digital Banking Trends, Part 2

The digital revolution in banking continues. The next couple of years will see profound changes in banking as we know it, especially driven by innovations resulting from the COVID-19 pandemic. In part 1 of this two-part blog series, we covered some of the trends we expect to see more of due to the crisis and the constant development of new technology. The areas discussed included how banks are driving new deposits and loan growth, conversational interfaces in customer interactions

Teachers Credit Union Retains Xtensifi to Create Strategy and Features for New Digital Banking Solution

ATLANTA, May 19, 2020 – Xtensifi, a digital consulting and development firm that enables financial institutions and fintech providers to create and execute their mobile and online strategies, announced it was selected by Teachers Credit Union (TCU), the largest credit union in Indiana, to assist with its adoption of the Constellation Digital Platform. In looking to expand the breadth and depth of its digital offerings through the use of the Constellation platform, TCU first engaged Xtensifi to help build out

Breach Clarity Enlists Xtensifi to Help Launch Suite of Fraud Detection, Prevention and Mitigation Tools

ATLANTA, April 29, 2020 – Xtensifi, a digital consulting and development firm that enables financial institutions and fintech providers to create and execute their mobile and online strategies, announced it was selected by Breach Clarity, a fraud prevention and detection technology firm that provides consumers and financial institutions with a greater degree of transparency around the risks associated with data breaches. Xtensifi developed a ground-breaking machine learning platform for financial service providers to enable highly targeted protections for bank customers

Why Banks and Credit Unions Need to Rethink Their Small Business Offerings

Why Banks and Credit Unions Need to Rethink Their Small Business Offerings

Banks and credit unions that diversify their offerings have achieved great success in serving their customers and members. Some of these products are created in-house and others are offered through partnerships with third parties. By offering a full range of banking products, these firms have forged strong relationships with the consumers they serve. While banks have been successful in offering full-product menus to consumers, they have not performed as well when it comes to their small business customers. Instead, fintech firms

Xtensifi Joins Financial Data Exchange (FDX), Movement to Enhance Consumer and Business Controls of Financial Data

Atlanta, GA, April 6, 2020 – Xtensifi, a digital consulting and development firm that enables financial institutions and fintech providers to create and execute their mobile and online strategies, announced it has joined Financial Data Exchange (FDX), a non-profit organization to unify the financial sector around the secure exchange of financial data. FDX, a subsidiary of the Financial Services Information Sharing and Analysis Center (FS-ISAC), addresses common challenges around the way the industry shares consumer account information. Since its launch

Xtensifi Adds Open Banking Consulting as a Service for Financial Institutions, Fintech Firms

Atlanta, GA, April 1, 2020 – Xtensifi, a digital consulting and development firm that enables financial institutions and fintech providers to create and execute their mobile and online strategies, announced its new open banking consulting service for both financial institutions and financial technology firms. Xtensifi enables banks and credit unions to be the primary hub for when and where consumers authorize their data. With intellectual property and core competencies around back-end integration and API development, Xtensifi helps mitigate problems with

Digital Channels Become Critical for the Nation’s Banks in the Wake of COVID-19

As the world continues to wage its battle against the COVID-19 virus, strategic planners in every industry are assessing the most likely outcomes and making plans to ensure the delivery of necessary products and services to consumers.   While a lot of attention has been focused on essential industries such as medical, pharmacy and food, executives in the banking industry are also carefully monitoring the situation.  As American Banker reported

Ensuring an Agile Business Transformation

As we enter the next decade, industry executives are becoming more comfortable with the concept of business transformation. In fact, it is becoming clear that unless traditional businesses evolve, they won’t be able to compete with new natively digital offerings. This is particularly true in financial services where fintech firms began getting attention years ago and are now well positioned to be powerful competitors for traditional banks and credit unions. Consumers are ready for a completely digital experience, both for banking

Understanding Visa’s Acquisition of Plaid

Understanding Visa’s Acquisition of Plaid

On January 13, Visa announced via a press release that it would acquire Plaid, which the company described as “a network that makes it easy for people to securely connect their financial accounts to the apps they use to manage their financial lives.” Visa agreed to pay $5.3 billion for the fintech firm. As you might imagine, many in the financial services industry were excited by this news. Venture capitalists had another reason to invest in fintech; Visa would have a