Open Banking

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Developing Digital Investment Strategies that Transform the Customer Experience

Developing Digital Investment Strategies that Transform the Customer Experience

Regardless of why a financial institution begins their digital journey, successful financial institutions set a clear strategy from the beginning that will ensure they reach their goals. When planning for digital investment most business objectives align with one of three possible categories, increased efficiency, revenue generation and customer experience. However, most digital investments provide at least some indirect impacts to the customer even if that wasn’t the primary intent. Increased efficiency, which looks to automate operational processes cutting time and costs,

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Building Customer Loyalty Through Empathetic AI

Building Customer Loyalty Through Empathetic AI

Since the onset of the COVID-19 Pandemic, financial institutions have accelerated the launch of digital solutions powered by Artificial Intelligence (AI) and Machine Learning (ML) to handle additional traffic to customer service centers and compensate for lost branch revenue.  While these services fill urgent gaps in functionality and provide additional sales and servicing options, hasty implementations and programmer bias can negatively impact the user experience and value to the customer.  Empathetic AI or Artificial Empathy (AE) has become the

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The Future of Financial Data Sharing

There is an ongoing conversation amongst key players in the financial services space about the future of financial data sharing. We recently wrote a white paper that explores this topic in depth and offers a clear path forward for financial institutions and fintech firms. The Future of Fintech’s Access to Financial Data with Open Banking: What Open Banking in the U.S. Means for Financial Institutions, Fintechs and the Consumers and Small Businesses They Serve At the heart of the issue

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Bringing True Open Banking to the Small Business Banking Environment

Until now, consumers and small businesses have provided credentials to fintech firms in order to use their applications. The firms use these credentials to collect data from the consumer’s accounts via screen scraping. And although consumers and small businesses alike have now fully embraced the functionality provided by third-party fintech firms, financial institutions are opposed to the practice of screen scraping as they

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