Banking

Monese is a UK-based startup that targets immigrants who experience daunting tasks in opening a UK bank account as a foreigner.

Banking has now become data-driven, and service delivery channels have been digital for the most part.

A transformation in the banking industry was due – and neobanks are bringing that transformation.

While financial institutions are still in the early stages of adopting AI technologies, intelligent machines are expected to become the most defining for the future of institutions in the financial services and insurance industries.

Digital banking has gone mainstream, but it has become the only point of contact between banks and their customers in many cases.

2016 has seen a shift in banking innovation and the payments space to accommodate the evolving consumer.

With automated systems and digital processes embedded in almost every modern bank’s service offering, it is interesting to observe the many transformations that technologies like AI and Open banking have brought into the industry.

Banks are finding new growth opportunities through online and mobile channels, proving once more that consumers are increasingly attracted to the convenience and speed of mobile and online solutions.

A look at an exciting development in the neobanking space, one that is aimed at boosting the financial freedom of players in a conventionally underserved segment – small and medium enterprises, otherwise known as SMEs.

Several promising players now use AI to solve some of the major problems for customers in the banking and financial services industry.

Millennials constitute more than a quarter of the US population. That is why companies across industries turn their priority and attention to creating products that can cater to this significant group.

We analyzed online/virtual/digital banking initiatives/apps created by traditional banks worldwide.