As digital capabilities have grown over the last few decades, digital organizations have also grown albeit in an organic, and not always scalable, way. We now live in a time where daily digital interactions exponentially outnumber any other channel, making it the primary vehicle for most brands to reach their
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,
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
Regardless of industry, success in business is all about solving customer problems. Financial institutions and FinTech organizations help their customers solve a range of financial problems in areas like budgeting, money movement, wealth management, auto loans and real estate financing. In order to provide more relevant products and experiences they
The path to digital has been accepted as the road to success for most financial services companies, and for many good reasons. In every bank and credit union bound for success, there is at least one executive who is completely convinced that making this journey will be key to everything
To be successful with digital transformation financial institutions need to take a step back and evaluate their digital maturity, especially the extent to which they are driven by data and focused on solving real problems.
Financial institutions need to start by determining where they fall on the digital maturity scale. Especially considering that only 13 percent
ATLANTA, June 10, 2021 – As digital transformation within consumer and business banking continues to accelerate, Xtensifi, a digital consulting and development firm that enables fintech organizations, banks and credit unions to create and execute their mobile and online strategies, continues to grow and is now actively managing projects with more than a half dozen different fintech firms and multiple financial
Fast change is built into our modern society, and no industry can hold back time. The financial services industry may have come the closest by holding innovation hostage to risk management for decades. But, with the rise of fintech firms and heightened customer expectations, financial institutions must catch up or face the consequences, according to The
As far back as 2013, Forbes reported that more than half of US businesses were already operating in the cloud. Today, much of the software in use by American businesses and associated online tools are hosted in a public cloud. While
There are big changes on the horizon for the payments industry as, at the end of this year, global payments messaging will begin a transition to the new ISO 20022 standard. And over the next five years, the new standard will replace the existing patchwork of message formats