As technology continues to advance, banking customers will increasingly require faster, more secure, and safer methods of payment. API (Application Programming Interface) is a software intermediary which allows applications to communicate with each other and plays an integral role within the banking technology ecosystem. In the context of banking payment systems, APIs are used to facilitate the transfer of funds between different parties, such as consumers, merchants, and banks.
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Recent Innovations within Mobile Banking
Dating back to the early days of the stock market, investors would trade stocks with other investors in coffee shops. Many of these low to medium-net worth investors would purchase stocks on margin, which allowed them to borrow money from their shareholders and put down as little as ten percent of the share’s value. These investments were conducted with paper slips and were solely in-person interactions.
Read MoreHow Financial Services Firms Can Become Sustainable without Sacrificing Growth
In an era where world-changing events are happening with greater frequency, sustainability has become increasingly important to the survival of life and commerce as we know it. The United Nations defines sustainability as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”[1] While not necessarily the same as a large profitable private sector institution such as a bank or fintech company, the U.N. views the private sector as a valuable partner in implementing sustainability goals.
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Retirement & Wealth Plan Vendor Analysis
The post-Covid pandemic era has been a period in which the way society functions does not resemble the legacy way in which people, businesses, and industries operated and interacted in the past. This new normal has significantly upended business models in the areas of retirement and wealth management planning.
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Comprehending Retirement Trends
A 2017 study published by Pew Research Center found that a quarter of private sector employees did not have access to employer-sponsored retirement saving programs. CEOs and C-suite executives have named as top reasons for not providing a retirement plan a lack of familiarity with trends and plans within the retirement sector, as well as a lack of organizational resources to plan and execute.
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How Artificial Intelligence Is Improving Customer Service
Artificial Intelligence (AI) is revolutionizing customer service in the banking industry and transforming how companies operate and interact with their customers, especially within the banking sector. AI-powered solutions allow companies to deliver personalized, efficient, and accurate service to their customers, ultimately leading to higher levels of customer satisfaction and loyalty. Through the use of chatbots, machine-learning algorithms, voice recognition technologies, and other advanced AI technologies
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