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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Upcoming webinar Title: Biometric authentication for SCA and beyond: the art of the possible Date: Wednesday, March 03, 2021 Time: 03:00 PM Central European Time Duration: 1 hour
The PSD2 requirement for Strong Customer Authentication, combined with Mastercard’s mandate on biometrics, has led to an increase in the deployment of biometrics as one of the 2 factors of authentication. A strong preference from consumers for its ease of use is also driving adoption.
Join this webinar, with BNPP Personal Finance, Mastercard, and Fabrick, as they share their experience of deploying ID Check Mobile (IDCM), MasterCard’s biometric authentication solution for online payments.
The expert panel will tackle the topics including how the solution can help issuers meet regulatory requirements and how biometrics can deliver additional value-added services to maximize return on investment. The speakers will take time during the discussion to answer questions from the audience – so use this time to get your queries and thoughts addressed.
Featuring:
Moderated by: Julie Muhn, Analyst, Finovate
Stephanie Chlala, Project Manager, Payments, BNPP Personal Finance, France
Register for thisupcoming webinar Date: Thursday, March 04, 2021 Time: 11:00 AM Eastern Standard Time Duration: 1 hour
Traditional wealth management processes are not designed for the digital age. Firms need digital solutions that address clients’ rising expectations for digital experiences and expand service offerings while reducing operational complexity.
Going digital, however, isn’t for the faint of heart. With 85% of projects going over schedule and 70% of large-scale digital IT programs failing to even reach their stated goals, developing enterprise software can be a painfully inefficient affair. This is where Unqork’s no-code platform can be a game-changer.
Join this upcoming webinar to learn more about how the wealth and investment management industry is being disrupted, and what you can do to stay ahead of the curve. Featuring: David Penn, Research Analyst, Finovate and Matt Singleton, Client Partner, Unqork.
If digital transformation is sweeping financial services – and this trend has been accelerated by the global public health crisis, as we are often told – then what’s up with the huge and enduring demand for cash?
“I certainly would have expected, if you’d asked me prior to COVID: would COVID put a big dent in cash? I would have said “absolutely” because not only are people not going out, it has a dirty connotation to it,” Fiserv Senior Vice President David Keenan said during the Q&A portion of his recent webinar presentation, Looking Under the Hood of Today’s Payments Ecosystem.
“And yet if you look at the data,” he added, “that’s not what’s happening.”
This was one of many fascinating takeaways from Keenan’s research on payment trends in the COVID-19 era. That research was presented this week in a webinar that also looked at the rise of digital enablement in financial services and the inevitable transition to real-time payments. Keenan’s presentation is now available for viewing on an on-demand basis.
Toward the end of his discussion, which explained how and why companies need to be able to provide “the right options at the right time to create a winning payment experience,” we asked the Fiserv SVP why he began his presentation, which featured insights on digital enablement and real-time payments, with a discussion on the importance and endurance of cash.
Keenan said the decision to start with cash was deliberate – and given the program’s theme of “safe, fast, convenient payments” it is perhaps easy to understand why. For all of cash’s drawbacks – including the fact that paper money increasingly is seen as “dirty” in an ever-more touchless world – Keenan showed research from the Federal Reserve indicating that cash remains a preferred payment method in the U.S. – only trailing debit. Moreover, for about 85% of those surveyed, cash usage over the past 12 months had remained the same, or increased.
But perhaps most interestingly, this data also revealed that cash’s most passionate champions are under the age of 25. And this preference for paper money does not take away from GenZ’s appreciation of debit, which is on par with 25-to-34 year old, 35-to-44 year old, and 45-to-54 year old cohorts. Nor was credit usage impacted by GenZ’s preference for cash; GenZ credit usage was comparable with both 25-to-34 year old and 35-to-44 year old age groups. The main difference between GenZ and other cohorts was in the use of electronic payments, where its usage was typically half that of other groups surveyed.
A further note on the enduring preference for cash: while cash usage patterns have returned to trend after a brief, coronavirus-induced drop in March, the amounts of cash being used – which began increasing in March – have remained elevated.
Keenan speculated that what might blunt these accelerating cash trends could be a major response to the coronavirus – such as a vaccine. He said, “as long as we’re living in this one-step-at-a-time, back-to-the-new-normal, we believe cash is going to be an important part (of payments).”
Join us for this #FinovateWebinar, as Ondot gives an overview of what the Google Checking product is, how it compares to payment products from Apple, Facebook, and other tech giants, and what Google stands to gain.
We will be joined by Richard Crone from Crone Consulting, whose Apple Card insights have been featured in Bloomberg, Marketwatch, PaymentsSource, and The Financial Brand, to discuss what’s driving the opportunity from these tech giants and what is the opportunity or threat for banks and credit unions, as well as how financial institutions can respond.
Covered in the session:
How is this different or the same from other tech company launches such as Apple Card?
Why does Google see an opportunity and what’s in it for Google?
Along with Apple Card and other tech giants, what are industry trends and consumer demands driving this change?
What’s in it for banks and credit unions? Should financial institutions see this as an opportunity or a threat?
Featuring:
Richard K. Crone, CEO and Founder, Crone Consulting, LLC
Heidi Liebenguth, Managing Partner and Research Director, Crone Consulting, LLC
In 2020, banks will spend about $2.3 billion on core modernization just to satisfy customers and keep fintechs at bay. In the age of apps and the platform economy, do you know how to ensure your bank is ready to compete?
Watch this on-demand webinar to explore:
The future of cloud-first strategies
The future of platform-as-a-service strategies
How banks can accomplish these and achieve transformation goals more cost effectively
Is your bank keeping pace with escalating customer expectations shaped by their mobile experiences? How are you addressing the perception that all banks are the same?
It’s tough when you have a product focus and outdated technology is holding you back. You know you need to modernize to win and retain demanding, empowered, and fickle customers. Customer loyalty and company revenue are at risk if you don’t.
In this webinar, featuring OutSystems and guest speaker Alyson Clarke, Principal Analyst at Forrester, you’ll learn how leading firms like Amazon, Nordstrom, USAA, and Zappos have made the shift to customer-centricity and are delivering world-class customer experiences.
Thursday, October 17, 2019 | 2pm EDT | Register now
Technology advancements and the proliferation of consumer apps have created a new customer experience paradigm that is changing how people are using credit cards. Customers expect brand interactions to feel like a dialogue, one that is relevant, timely and personal to them; regardless of whether that’s online or offline.
Watch this webinar to learn more about:
The customer experience paradigm shift, from episodes to journeys
How to leverage the power of contextual marketing to enhance the cardholder lifecycle
How to optimize your cardholder lifecycle management
Featuring Jason Davies, VP, Enterprise Innovation, FlyBits and Rebecca Engelberg, Marketing Intelligence Manager, FlyBits.
Take a look back on the latest FinTech Futures and Finovate webinar, Digital, Data and Disinformation: Modern Banking with Jon Deutsch, from Information Builders; and Dave Birch, Global Ambassador at Consult Hyperion.
Technology and increasing competition have rendered the financial services sector very much under pressure. Banking is not what it used to be, and it’s becoming clear that new players are appearing by the minute, who will take a seemingly marginal share.
However, these changes are not as bad as they seem. If we focus on the potential of fintech disintermediation, digital transformation, and data proliferation, it’s easy to see that the industry is ripe for disruption.
Future growth and success belong to those institutions who align on strategy to marshal these forces to build and retain market share through superior products, service, and customer outcomes.
Banking and financial services industry leaders must now look to push the boundaries of innovation even further and question exactly how the implementation of emerging technology enablers can help them to truly redefine the customer experience.I
Data is a valuable asset to your business – driving competitive advantage and transforming the customer experience. However, most organizations are unable to leverage it.
Join us on Thursday, March 14th for a case study on Using Smart Technologies to Modernize and Transform the Customer Experience in Banking. Norman Wren, former Director of Technology and Operations at Santander, and Dave Jones, Vice President of Product & Industry Marketing at Nuxeo, will show how to defuse data issues by using smart technologies like AI, micro-services, and modern content services.
In our latest Finovate webinar, Wren and Jones will discuss real world examples of practical business applications and solutions that can help you:
• Leverage existing data systems
• Drive value from unstructured data
• Have flexible, yet secure, and auditable data
• Remove obsolescence, reduce costs, and maintain compliance
Register today to learn how to modernize the customer experience in banking with smart technology and turn your data into a valuable asset.
Featuring:
Norman Wren, Financial Services Consultant; Former Director of Technology and Operations, Santander
Wren is a senior financial services executive with over 20 years’ experience operating at the board level, in complex and challenging regulated organizations. He has a wealth of experience in leading transformational change and delivering digital transformation projects for global companies including Santander, AXA, and Barclays and consulting with Anderson Consulting.
Dave Jones, Vice President of Product & Industry Marketing, Nuxeo
Jones is VP of Product Marketing for Content Services at Nuxeo. He is responsible for developing the global go-to-market strategy and execution plan for Nuxeo’s modern enterprise Content Services Platform.
Financial institutions are racing towards the digital future, working to transform their operations in response to increasing competition, expanding markets, and diversifying customer segments. Watch the latest Finovate webinar to hear from an expert panel on unchaining yourself from legacy systems.
Whether aiming for more share of wallet or targeting the underbanked and unbanked, growth opportunities are there if banks can find the right combination of channels, technology, and solutions.
To reach this future, institutions must invest in new technologies that boost their ability to scale operations and serve customers more efficiently. While large, well-capitalized banks have paths to progressively renovate their legacy systems and build new digital layers, smaller community and regional banks have found it more challenging and risky to pursue significant transformation efforts. Experts from CeleritiFinTech, a leading innovator in global banking and payments systems, and DXC Technology discussed:
Key challenges around core modernization for mid-tier community and regional banks
Five potential modernization paths financial institutions can pursue
New cloud-enabled and as-a-service models banks should consider
Featuring:
Thomas Demchak, Banking and Capital Markets Technologist, DXC Technology
Terry Rupp, Chief Technology Officer, CeleritiFinTech
Scott Lorenz, Head of Global Core Banking Strategy and Product, CeleritiFinTech
The digital lending and finance sector has grown dramatically in the last few years but traditional banks still dominate lending and the financial services space, while digital-first challengers and fintechs are still facing an uphill battle to capture customers and take advantage of the opportunity the digital transformation has provided.
Customers are taking notice of these newcomers though, and efficient onboarding using digitized workflows, such as digital identity verification technology, are being used by both new entrants and incumbents to boost competitiveness in an era where many consumers are increasingly shifting from being digital-first to digital-only.
Watch this Finovate webinar to learn from leading experts in the digital space who will delve into how digital lenders, fintechs, and even incumbents can leverage digital to ward off inefficiency, drive the best possible customer experience, and enhance the speed and cost-effectiveness of the onboarding process.
Our experts will be covering topics including:
The landscape for digital lenders in Europe: Explore the rapidly-expanding digital landscape and what digital lenders are competing with incumbents.
The need for increased security: See methods for mitigating fraud and risk posed by financial transactions in the online world where face-to-face or traditional ways of verification aren’t possible.
Seamless user experience: Learn how leading companies are leveraging digital ID verification to bring on more customers, more quickly.
Cutting compliance costs while boosting efficiency: See how, in a supposedly digital world, mandatory KYC and AML checks are still all too often a largely manual process. Digital processes have the potential to help to reduce KYC and AML compliance costs by up to 70% – and could improve the speed of these checks by up to 80%.
Featuring:
Lex Sokolin Global Director Fintech Strategy, Partner Autonomous Research
Sokolin is a futurist and entrepreneur focused on the next generation of financial services. He directs Fintech Strategy at Autonomous Research, a global research firm for the financial sector, helping clients understand and leverage innovation. Covered themes include roboadvice, blockchain and cryptoeconomy, artificial intelligence, chatbots, neobanks, and banks-as-a-platform, insurtech, and regtech.
Joe Bloemendaal VP of Identity, EMEA Mitek
Bloemendaal has long been actively involved in online identity and risk management, with 15+ years of experience in entrepreneurship, international sales and marketing in the field of internet technology, and SAAS. In his career, Bloemendaal has successfully founded and managed two businesses which still exist to this day. As VP of Identity for EU for Mitek, Bloemendaal is responsible for setting the strategy and continually driving growth for Mitek in digital identity verification across Europe.
WIFT remains a mission critical channel for all financial institutions. But the cost and complexity of operating SWIFT for top-tier banks has increased substantially since the introduction of SWIFT’s CSP programme. As payments and connectivity become increasingly commoditised for all financial institutions, banks are re-thinking how best to maintain secure, reliable and compliant SWIFT operations and back-office applications at the lowest cost.
To respond to our customers’ needs, equensWorldline has launched a new fully managed service to meet the needs of tier-1 banks that can no longer afford to invest in ageing infrastructure or meet increasingly stringent regulations and market practices.
Now, for the first time, outsourcing of SWIFT and other financial messaging channels is a realistic and attractive option for tier-1 banks that previously operated their SWIFT infrastructures in-house.
Commerzbank AG, a top SWIFT user, recognised the benefits and adopted the Next Generation Financial Messaging service from Worldline, an Atos Group Company. The service uses the BOX Messaging Hub from Intercope.
The webinar will give an overview of the:
Fundamental changes to SWIFT operations impacting Tier-1 banks
Changes to the regulatory environment including SWIFT’s CSP programme
The key financial benefits of using this managed service
Key benefits of a modern and high performance platform
Flexible customization to customer needs
Ease of integration to back-end applications
Featuring:
Julius Pietowicz, Head of the SWIFT Service Centre, equensWorldline
Olaf Badstuebner, Global Director Financial Services, Atos Group
