A call to rethink the banking value chain

Financial services is shifting to platforms for business functions and processes, and that’s a good thing. Moving from applications to Software as a Service (SaaS) and then to Platform as a Service (PaaS) can create new value chains. It can also dramatically reduce the number of error-prone manual processes and foster industry collaboration for superior […]

How SIAM enables digital transformation in the banking industry

banking-growth-plant-metaphor

Retail banks and other financial institutions face many of the same challenges other mature industries confront in the digital era, including the three truths of digital disruption: Consumers are in charge. Many customers are already thinking and acting “digital” and will force financial institutions into the next market-facing move. The customer experience (CX) for digital […]

Artificial intelligence in banking: How to be more trustworthy, efficient and helpful

You know your bank, but how well does your bank know you? Banks want better relationships with their customers in order to provide more personalized and customized services. Artificial intelligence (AI) can help banks understand their customers in powerful new ways. Why AI? You may have heard the terms analytics, advanced analytics, machine learning and […]

How Facebook is fueling the enterprise chatbot revolution

Statue-Chat

We’re in the early stages of another digital revolution that is changing how consumers interact with brands and conduct transactions. This transformation comes in the form of virtual assistants called chatbots, which use artificial intelligence and natural language processing to interact with users. While the nascent chatbot movement has productive roots in a number of […]

Attention Apple users: New attack steals banking creds

Iphone security

A recently discovered malware targeting MacOS, named OSX/DOK, is now targeting unsuspecting Apple Mac users and attempting to steal their banking access credentials. The malware, initially discovered by researchers at Check Point Software Technologies, reportedly affects all versions of OSX, had a valid developer certificate, and targeted users via a widespread phishing attack. According to […]

The marriage vows of technology and banking

Banking

As of 2015, U.S. banks have stored data equivalent to 275 billion MP3s. Drifting through a vast ocean of data are credit card histories, banking transactions and personal customer profiles among other pieces of sensitive information. Banks are under tremendous pressure to collect, store, manage and protect this critical data, and that’s what makes information […]

B is for blockchain

This post is part of a continuing series, “Digital: from A to Z,” that explores what it means to be “digital” from A to Z, broken down into individual blog posts diving deeper into various subjects. Check back regularly to see continuing posts as I work my way through the alphabet and let me know: […]

Reducing your risk in the cloud

Reducing Risk in the Cloud

In late 2014 and early 2015, the Australian Prudential Regulatory Authority (APRA) observed that many of the regulated entities that previously outsourced parts of their ICT capability were increasingly adopting a cloud strategy. The organisation released an information paper, Outsourcing Involving Shared Computing Services (including Cloud), intended as guidance for the banking and financial sectors. In response, I published […]

L’avenir de l’agence bancaire

Le constat semble évident. Les clients bancaires utilisent de plus en plus les canaux digitaux, et désertent leurs agences. Le mouvement de rationalisation, voire de fermeture d’agences, semblent s’accélérer. De nombreuses banques, à l’instar de la Société Générale, du LCL ou encore de BNP Paribas, ont initié une restructuration de leur réseau d’agences. De là […]

Exploring blockchain in banking

blockchain in banking DXC blogs

Blockchain or, more precisely, Distributed Ledger Technology (DLT) is currently one of the hot topics in the banking industry. Its main focus is on clearing and settlement, where DLT can reduce reconcile efforts, address liquidity needs and accelerate processing. Several reports and studies suggest benefits and substantial savings – in particular, when DLT is applied […]