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Banks bet on AI to deliver digital efficiencies

CIO

In the face of shrinking budgets and rising customer expectations, banks are increasingly relying on AI, according to a recent study by consulting firm Publicis Sapiens. Around 42% percent of banks rely on personalized customer journeys to improve the customer experience.

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Bank of America’s big bet on AI started small

CIO

Bank of America will invest $4 billion in AI and related technology innovations this year, but the financial services giants 7-year-old homemade AI agent, Erica, remains a key ROI generator , linchpin for customer and employee experience , and source of great pride today.

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Beyond Bank CIO: Balancing tradition and innovation in the digital age

CIO

Beyond Bank Australia is one of the largest customer-owned banks in Australia and one of the leading B Corps in the country. Beyond Bank has a real focus on customers who are the members and owners of the bank. Beyond Bank has a real focus on customers who are the members and owners of the bank.

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Digital Banking Startups Are Hot Again

Crunchbase News

After several slow quarters, were seeing a pick up in funding to digital banking startups. billion into a geographically dispersed group of online banking providers, Crunchbase data shows. Tyme, which offers digital banking in South Africa and the Philippines, picked up the next-largest round: a $250 million Series D.

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Square’s bank arm launches as fintech aims ‘to operate more nimbly’

TechCrunch

Known for its innovations in the payments sector, Square is now officially a bank. Nearly one year after receiving conditional approval , Square said Monday afternoon that its industrial bank, Square Financial Services, has begun operations. Lewis Goodwin had been tapped to serve as the bank’s CEO, and Brandon Soto its CFO.

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With open banking on the horizon, the fintech-SME love story is just beginning

TechCrunch

Long before the pandemic, the way in which banks were regulated was changing. Initiatives like Open Banking and the Revised Payment Services Directive (PSD2) were being proposed as a way to promote competition in the banking industry — allowing smaller challenger firms to break into a market that has long been dominated by corporate titans.

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Most fintechs partner with banks; Varo became one, and says it’s paying off

TechCrunch

Last month, Varo Bank celebrated the two-year anniversary of obtaining its national bank charter. consumer bank. The startup launched its banking services in 2017, aimed at making younger consumers comfortable doing all their banking online. Our largest reduction in spend is coming from marketing.

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