ATLANTA, Feb. 25, 2019 – Xtensifi, a digital consulting firm that enables financial institutions to create and execute their mobile and online strategies, announced today that it was recently selected by Farmers Insurance Federal Credit Union to provide strategic consulting services to help accelerate digital transformation of member services.
Financial institutions have vast stores of data about their customers. As systems become outdated, needs evolve, and/or regulations change, banks often have to move this critical data from one system to another. In fact, data has to be migrated any time a bank installs a new server or software platform.
As banks increasingly focus on customer experience, they are seeking to work around legacy back-office systems that often impede digitized customer journeys. These legacy systems are core systems and thus not easily replaced—a total replacement can be likened to a human heart transplant. Rather than take this radical step, financial institutions are replacing existing services incrementally,
An organization’s technology infrastructure is vital to its success. Just as we humans should take an annual physical exam, a company’s architecture needs to be periodically assessed to ensure its health. An effective architecture assessment can determine whether a company’s current technology stack can support and advance its needs and
This year at Money 20/20 USA, William Mills Agency – a public relations and marketing firm for the financial industry – interviewed the Xtensifi team about the biggest themes and takeaways of the conference. In the video recap below, CEO George Kelley shares his thoughts on Open Banking, AI,
Financial institutions have come a long way in digitizing payments and payment processes, and many offer robust solutions for P2P (person to person/peer to peer) and B2C (business to consumer) payments. B2B (business to business) payments, however, are still dominated by checks and cumbersome processes, partly due to a technology
Financial institutions once viewed fintechs as a threat to their business, but banks are increasingly recognizing the value of partnering with them. Because they are smaller and nimbler, fintechs can typically innovate much faster than banks can. In a fast-moving marketplace, this dexterity can lend banks a competitive advantage. The
In today’s marketplace, technology develops at lightning speed, and the payments technology market is evolving especially fast. Financial institutions’ payment solutions need to keep up with this pace, yet many FIs cannot move nimbly to new capabilities because they are locked in with vendors through long-term contracts. A five- to
Since we last wrote about Zelle, the P2P payments solution has experienced some significant growth (and an anniversary). While we’ve heard our fair share of financial institution executives lamenting the rise of competing P2P platforms from fintechs, the key for Zelle is that it has some differences that make