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
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
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
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 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
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
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
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,
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
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.