There are two different approaches to gain business success. One worked in the recent past and the other works in the digital present.
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How Customer Centricity Dictates the Business Success in the Digital Age
Tuesday, January 21, 2020 - 05:27
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Financial IT
Open Banking - An Opportunity for UK Banks
The appearance of open banking created an immediate concern within the banks as they would now have to share customer data, competition from challenger banks, etc. Even though it is a well-known statement these days that “innovation will come with or without the banks” most banks (if not all) are still thinking that innovation will not affect them, and open banking will just fade away. As I wrote earlier this year, open banking is not going anywhere any time soon.
Tuesday, January 21, 2020 - 05:19
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Financial IT
Rabobank Invests in Digital Mortgage Broker Trussle
Rabo Frontier Ventures (RFV), the strategic investment fund of Rabobank, has contributed to a £7.5 million funding round in online UK mortgage broker Trussle
The Dutch bank was joined by existing investors Goldman Sachs Growth, Finch Capital and BBVA-backed Propel Venture in backing the firm, which last raised £13.6 million in Series B financing in May 2018.
Trussle is one of a new breed of fintech startups that uses proprietary automation and a mortgage monitoring service to compare and track thousands of mortgage products from more than 90 lenders.
Tuesday, January 21, 2020 - 05:13
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Financial IT
JPMorgan and UK Aid Pump $15 Million into Catalyst Fund
JPMorgan has joined UK Aid in providing $15 million in support for Boston-based accelerator Catalyst Fund, which aims to back 30 fintech startups in Kenya, Nigeria, South Africa, India, and Mexico over the next three years.
Tuesday, January 21, 2020 - 05:11
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Financial IT
Bank Cyberattack Could Hit Whole Financial System - NY Fed Research
A cyberattack on a major US bank could have significant spillovers to other lenders, with serious implications for the whole financial system, according to research from the Federal Reserve Bank of New York.
The report models how a cyberattack on a single large bank, a group of smaller banks or a common service provider can be transmitted through the wholesale payments network.
The researchers estimate that a hit on a big five bank would affect more than a third of the assets in the whole network.
Tuesday, January 21, 2020 - 05:08
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Financial IT
Weak Passwords Caused 30% of Ransomware Infections in 2019
As one of the leading types of cyber-attacks, ransomware is expected to dominate cybercrime in 2020. According to PreciseSecurity.com research, weak passwords were one of the most common cybersecurity vulnerabilities in 2019, causing 30% of ransomware infections in 2019.
Weak Passwords Are the Third Most Common Ransomware Cause Globally
Tuesday, January 21, 2020 - 04:58
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Financial IT
Appian Announces Partnership with Celonis
Appian (APPN) today announced a technology partnership and integration initiatives with Celonis, the market leader in AI-enhanced Process Mining and Process Excellence software, to unite Appian’s low-code application development platform with the powerful process mining technology of the Celonis Intelligent Business Cloud (IBC). The partnership will accelerate digital business process transformation and continuous process improvement for joint customers.
Monday, January 20, 2020 - 12:43
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CaixaBank applies artificial intelligence to augment employee training
CaixaBank has started to use artificial intelligence to improve the acquisition of new skills among its employees. The financial institution, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, has launched a new version of Virtaula, an online training platform for its entire workforce, incorporating artificial intelligence to identify each employee's areas of interest and recommend courses tailored to their individual profiles.
Monday, January 20, 2020 - 12:36
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Open Banking Customer Numbers Surge
Customer use of Open Banking in the UK has surpassed the one million customer mark for the first time, doubling in the past six months.
The figures, generated by the Open Banking Implementation Entity (OBIE), only represent customers of the CMA9, the nine biggest current account providers in Great Britain and Northern Ireland.
The doubling in customer numbers mirrors similar growth in third party service providers. Currently there are 204 regulated providers, up from 100 at the end of 2018, who are fielding approximately 200 million monthly calls on bank account data.
Monday, January 20, 2020 - 12:04
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Financial IT
Australian Neobank Volt Makes Seamless Move From Series C to Series D Ahead of Planned IPO
With its sights set on an IPO later this year, Australian neobank Volt has closed a $70m Series C round and is now opening up a $50m Series D on a $285m valuation.
The latest round lifts Volt’s total funding to $100 million in equity, and brings the challenger a step closer to a planned listing on the Australian Stock Exchange in late 2020.
The neobanking startup, which recently launched its first deposit product, says the move to an immediate Series D is to meet regulatory capital demands and provide funding for the rollout of additional products.
Monday, January 20, 2020 - 12:02
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Financial IT
