This is a roundup of industry news and links for the week of October 23rd that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
How FinTech Companies Are Closing The Banking Gap – According to the World Bank, there are two billion people globally who currently have no access to banking services. There are many reasons for this: they may not have built up enough traditional credit history, they may have bad credit because of poor financial choices in the past, or they may live in an area where access to credit and other financial services are limited.
From Expanded Uses of Blockchain to the Mainstreaming of Machine Learning, Here Are 5 Emerging Business Trends to Watch in 2018 – This has been a big year for the business world. Topics that have been simmering for a long time — think artificial intelligence and cybersecurity — are heating up. We may just be coming to grips with the new challenges and opportunities that these developments present, but we also have to keep our eyes firmly on the horizon: As a business leader, it is critical to keep a forward-looking mindset and identify the new trends that are poised to disrupt business in the coming year. With these insights in mind, you can clearly plan for the future of your company and strategically identify priorities for the year ahead.
Conversational Banking Will Transform the Financial Services Industry – Leveraging the power of artificial intelligence (AI) and the surging popularity of messaging apps, conversational interfaces are enabling unprecedented banking engagement and re-establishing relationship banking. Chatbots are a simple, lightweight solution to a host of legacy banking problems, giving progressive banks and credit unions a competitive industry edge.
The Best Bank in Every U.S. State – Could you walk away from bank branches completely? For most people, the answer is still no.The way Americans bank has evolved dramatically in the past decade, with a combined two-thirds of consumers saying they prefer to manage their finances via phone or online banking, according to the American Bankers Association. Convenience is paramount for consumers, says Rob Rubin, director at bank consultancy firm Novantas, and that means constant access. “Mobility is where consumers are defining convenience today,” he says. “Can I bank wherever I want? Can I have access to cash whenever I want?”