It was a setback when UK’s biggest lenders’ missed deadlines surfaced around the open banking rules! Are banks stalling the inevitable future of Open Banking?
Open banking is set to make a transformational change to banking for personal customers and small businesses, forcing UK banks to open up their data via a set of secure application programming interfaces (APIs). This will bring banks to shift from being one-stop-shops for financial services to open platforms where consumers can start to embrace a more modular approach to banking by giving verified third-parties direct access to this data.
Under these changes, the challenger banks are up for a win-win situation since they can now offer personalized solutions to their customers while the move for a customer from one bank account to another becomes easier.
Aspire Systems welcomes you to the second session of the Millennial Banking Day. Millennials today are transforming the way banking is done. In a world where all other industries have started to serve their millennials at the speed and scale to keep them engaged, this puts a huge pressure on banks to innovate in such a way that millennials witness personalized banking experiences intuitively at the speed of light.
Join us for a 45 minute Q&A session with best known experts from the fintech industry to discuss reasons for banks to miss these open banking deadlines and how banks can start to detect early successes with open banking.
Hosted by – Krittika Banerjee, BFSI Research Analyst, Aspire Systems
Thanks to digital technologies, finance is becoming a consumer-to-business industry. To offer consistent and fulfilling customer experiences across multiple channels (digital and physical), banks must define clear digital agendas and allocate the right investments between “GO Digital” and “BE Digital.”
What does that look like? Successful banks are analyzing and prioritizing existing business platforms and key processes to determine what needs to transform as well as what new digital business initiatives they need to launch to meet and exceed the rising expectations of today’s consumers.
During this webinar, Deven Swim of Boston Private Financial Holdings and Tanner Shamrock and David Dal Pos of Accenture, will take a closer look at what it takes to achieve next level customer service and how cloud onboarding and client 360 can help.
•The state of banking and wealth today, including top trends and challenges
•How to get the client onboarding experience right in the first 90 days
•Best practices for achieving the coveted 360-degree view of clients
•What your peers are doing to deliver next level service
View on accenture.com:
Louise Beaumont, Head of Open Banking at techUK and Publicis.Sapient gives advice on customers who are affected by Open Banking and don’t even know it exists. She'll talk about the banks that are ahead of the game and whether the US should be listening in on what's happening in Europe.
She also shares her opinion on whether Amazon will become a bank or pose a threat to other players in the industry.
Chris is a world renowned FinTech commentator, and is the top-selling author of Digital Bank. He is chair of the European networking forum, and was voted one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. Chris’ new book Digital Human is being launched on the day of the summit, and he would love to discuss open banking, financial inclusion, and the future of money.Read more >
Banks being notoriously slow has become an assumed adage. Considering the pace of technology, consumer needs and regulation change, banks are running out of time to either become beloved brands and retain their relationship with the consumers or simply modify their business models to become efficient and profitable rails for those who will. To accomplish that, deeply meaningful cultural transformation needs to happen and fast.
Emotional Banking details a series of methods to accomplish this transformation and looks at case studies of those banks that have undergone change.
This session will feature Duena Blomstrom, the author of "Emotional Banking - Fixing Culture, Leveraging FinTech and Transforming Retail Banks into Brands " in conversation with bankers who have had to design and implement cultural change in their organisations."
2018 will forever change the retail banking landscape. PSD2, Open Banking and APIs will allow for a more competitive market and will provide more opportunities to improve the customer experience.
Join this live video panel session straight from the Sibos floor to make sure that you and your organisation are prepared for these new changes and learn how to best capitalise on them.
Moderator: Markos Zachariadis, Warwick Business School
Panelists: Louise Beaumont (techUK and SapientRazorfish)
When almost every other financial institution offers some form of mobile banking, how do you stay competitive? What do you do with this continuously growing and innovating channel to stand out, captivate and engage new audiences, deepen relationship and create new opportunities to grow your business?
Join Dan Weis, Senior Product Manager at Digital Insight, an NCR company and Eric Givens, Senior Director of Digital Banking, Arizona Federal Credit Union for a free, one-hour webinar where they will discuss 10 things your financial institution must do in order to get the most out of your mobile channel.
With Big Tech and e-commerce players like Amazon and Alibaba moving into the Financial Services space, the future of banking has become more and more exciting, but perhaps, challenging as well.
Join this live panel session streamed from Money 20/20 Europe where our panel will discuss:
-The data revolution - privacy, data management, and optimising the customer experience
-The effects of new regulatory changes
-Common mistakes traditional banks have made when it comes to collaborating with FinTech players
-Where does AI come in?
-What retailers can learn from the changing banking landscape
Evgenia (Jane) Loginova, Chief Commercial Officier, BPC Banking Technologies
Natasha Kyprianides, Head of Digital Banking and Innovation, Hellenic Bank
Ilya Dubinsky, Head of CTO Office, Credorax Group
Vincent Roland, EVP Merchant Services Global Business Line, Worldline
Dr Agapi Leda Glyptis, Chief Innovation Officer, Qatar National Bank (QNB)
Platform companies are taking over, and changing the way companies do business. And with Open Banking now on the horizon, banks cannot afford to sit back and not seize the opportunities available from collaboration.
Forecasting the impact of increased collaboration in banking
What are the partnership features to look for in an over-crowded market?
Creating a mutually beneficial relationship: what should each party bring to the table?
Ensuring you have sufficient interoperability to deploy new technology in open banking
Understanding the impact of Open Banking: what will the future role of the bank be?
What strategies will be keep to retaining the customer interface?
Join Anirudh Shah, Founder & CEO, 3LOQ Labs, and Flavio Villanustre, VP Technology, HPCC Systems, to learn how 3LOQ is solving the problem of customer churn with open source big data and machine learning technology. 3LOQ addresses this challenge by deploying proprietary machine learning algorithms to analyze billions of data points and map out dynamic feature recommendations to reinforce repeated usage of a product. The end result? Reduced churn with high customer engagement for businesses.
3LOQ recently partnered with a leading Indian banking institution to increase adoption of their digital channels. The project yielded impressive results for the client, including a:
· 45% reduction in customer churn
· 145% increase in digital banking transactions
· 75% increase in users who made four or more transactions per month
In this webcast, Flavio will give an overview of one of the key tech tools that contributes to 3LOQ's success, the completely free, open source HPCC Systems big data platform. Anirudh will share how 3LOQ Labs leverages this platform to:
• Analyze four terabytes of data combined with built-in analytics libraries to create personalized recommendations
• Utilize efficient coding in an implicitly parallel platform that allows prototypes to be developed and iterated quickly
• Enable horizontal scaling on commodity hardware, with the flexibility to deploy both on premises and in the cloud
Platforms are revolutionizing traditional business models in every industry and fast becoming a metaphor for outstanding business success. In banking, the platform model will enable institutions to sharpen their ecosystem strategy and build a sustainable revenue source in the times of falling interest incomes.
How can banks achieve the explosive success of new age platform businesses like Uber, Alibaba and Amazon? Join this webinar where a panel of global banking leaders will share strategies and case studies of progressive banks, who are making this transition.
- Gabriel Di Lelle, VP - Innovation and Digital Transformation, Grupo Bancolombia
- Sampath Srinivasan, SVP and Head - Program Management Office, First Abu Dhabi Bank
- Sameer Singh Jaini, Founder and CEO, The Digital Fifth
- Sunil Mishra, Senior Industry Principal, Infosys Finacle
- Rajashekara V. Maiya, Head - Product Strategy, Infosys Finacle
A convenient and consistent online user experience breeds trust in a service. How it’s executed can alter a user’s perception either positively or negatively. When it comes to online security, consumers have different perceptions. What banks want to avoid is “security fatigue.”
Risk management systems make sensitive online transactions more user friendly by customizing security in response to the risk. The real-time assessment of a user’s transaction is instantly evaluated and an authentication step can be sent if needed. Adapting strong authentication to the online transactions improves the customer experience and avoids fatiguing your users with security if it’s not necessary.
Not all online transactions are created equal, so successful security solutions need to be intelligent and smart. Join us for a webinar on Tuesday November 16, 2016 as we discuss:
•What not to do when it comes to online banking security
•How to build a customized risk-based authentication process
•Security as a business enabler
•The influence of a user’s security persona toward risk
How can banks change their relationship with millennials for the better? Study various user experience strategies that can help you to retain millennial banking customers. Millennials today demand a whole new level of banking experience. Thanks to the wide adoption of smart phones worldwide, user experience has become a burning need for banks in order to achieve customer satisfaction. Digital bahile you improve loyalty and retention rates
Aspire Systems welcomes you to the fourth session of the Millennial Banking Day!
Join us for a 45 minute Q&A session with best known experts from the fintech industry to discuss how revolutionary user experiences can be delivered to millennial banking customers.
Session Hosted by – Krittika Banerjee, BFSI Research Analyst, Aspire Systems
The Millennial generation in the US account for almost 1/3rd of the country’s population. The best banks for millennials are the ones that have embraced the millennial banking revolution and are providing easy banking experiences to millennials. What really constitutes the millennial banking recipe according to Jeremy Balkin, a renowned Banking Chief Innovation Officer and an author of the award winning book “Millennialization of Everything” ? – You are now watching the second episode of the Millennial Banking Flix.Read more >
Digital disruption in the banking arena is accelerating. Pure digital firms have raised the bar for customer expectations regarding convenience, service, and speed. Fintech companies are taking over profitable areas such as payments, lending, and retail investments. In this new world, banks need to create a seamless, personalized customer journey. This journey must be marked by intuitively grasping and fulfilling the customer’s next demand.
But how do banks create this sought-after customer experience? The answer is found in building a cohesive ecosystem incorporating the perfect blend of both digital and physical touchpoints.
Discover how to grow wallet and market share by making customer journeys easy and frictionless across all touchpoints. As you simplify the way customers interact with your bank, you will reduce costs and free up both staff and capital, which you can then apply to support further innovation and growth.
About The Speakers:
Eric Crabtree, VP & Global Head, Financial Services, Unisys
Eric Crabtree is the global leader for Financial Services. In his current role, Eric is building a cohesive strategy for the financial services vertical, by leveraging the extensive domain expertise across the Unisys portfolio and ensuring that solutions and services are delivered in a way that enable our clients to meet their strategic goals and objectives.
Daniel Latimore, Senior Vice President, Banking, Celent
Daniel W. Latimore, CFA, is the Senior Vice President of Celent’s Banking group and is based in the firm’s Boston office. Mr. Latimore’s areas of focus include the banking ecosystem, digital and omnichannel banking, and innovation.
Join Bob Meara, senior analyst with Celent’s Banking practice, and Kambiz Asrar Haghighi, INETCO's VP of Product Management, for a 45 minute webinar to learn how to tap into your existing transaction data and access the rich customer analytics you need to drive banking engagement, adopt data-driven banking strategies, and speed up your profitability reporting cycles.
According to a recent Celent study, “62% of financial institutions strongly believe that customer analytics offers significant competitive advantages and 53% strongly feel they need a granular, holistic and forward-looking view of customers to be competitive." - Bob Meara, Senior Analyst, Celent’s Banking practice.
Key webinar takeaways:
* How transaction data plays a key role in helping you understand the customer experience
* How to move from Big Data talk to Big Data action with customer analytics
* Live data use case demonstration of the new INETCO Analytics for ATM solutions pack
All those who register for the webinar will receive a copy of its recording as well the corresponding whitepaper: Improving Banking Engagement with Customer Analytics
Watch the replay where our panelists discuss Open Banking & PSD2 from the viewpoints of: industry expert, financial insider and technology provider. The Open Banking mandate in the United Kingdom and the second Payment Services Directive (PSD2) regulation in the EU are meant to increase competition and innovation in the financial system. They will set new standards for banks in the areas of strong customer authentication, secure application programming interfaces (APIs) for customer data sharing, and modern customer consent mechanisms. Learn how the ForgeRock Identity Platform can address the main challenges that come along with Open Banking and PSD2.Read more >
#TrulyDigital banking is not about giving legacy processes a digital facelift. Are you ready to rethink digitization for banks? With our experience of working with financial institutions across 94 countries, we believe, the trulydigital banking paradigm has four stand-out characteristics. Watch this video to learn more..Read more >
Whether driven by PSD2 compliance, market demand for mobile apps, or fintech competition, open banking is becoming a top priority for financial businesses. Through exclusive research and customer successes, we determined that building a modern application architecture with APIs, microservices and strong authentication is a key success factor in this space. In fact, our latest report shows that fully digital banks enjoy an estimated 25% cost-to-income ratio, versus 60% for traditional institutions.
For this webcast, we assembled a panel that includes Mehdi Medjaoui, author of Banking APIs: State of the Market, along with experts in API and security capabilities, to introduce the elements of modern application architecture that all digital banking business leaders should know about – API management, microservices, strong authentication and risk-based security. You’ll learn about:
* The current state of open banking, and what your peers are doing
* How to invest in modern application architecture to improve your open banking projects
* How to align better with IT to accelerate your time-to-market
All registrants will also benefit from a complimentary copy of our Banking APIs: State of the Market report.
Roger Vincent, Head of Innovation with Equifax will share his insights on making the most of Open Banking and his lessons learned along the way.
In this webinar Roger will talk about:
* How increased use of open APIs is likely to shape the financial services market, why challenger banks are making headway, the big banks are building partnerships and the impact of APIs among payment service providers.
* Activities banks need prioritise in the wake of Open Banking; starting with compliance & legal issue and why they need to assess time/resources carefully before trying to deploy solutions.
* Which strategies are likely to thrive in the new environment and how regulatory compliance can quickly be turned into competitive advantage to commercialise Open Banking.
* Overcoming security and privacy concerns associated with data sharing and the implementation of GDPR.
* Strategies to encourage customer engagement by using Open Banking applications to enrich user experience to create long term value over short term revenue.