Across industries and enterprises, AI has been the key growth driver, and this is mainly due to the services offered under this technology umbrella. Every industry is now witnessing enhancements in business processes, costs, and efficiency due to AI's introduction in their field. Depending on the industry, AI offers something unique and has helped the key decision-makers to make fast and accurate decisions based on various implementation solutions.…

Market Highlights

On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in Core Banking Solutions Market owing to higher technology implementation. The implementation of core banking solution software by both small and medium enterprises is increasing rapidly. In US region, the implementation of core banking solution software in BFSI sector accounted for…

2018 is likely to be a game-changing year for the banking and finance sector. As the General Data Protection Regulation (GDPR) and Revised Payment Service Directive (PSD2) are implemented across the European Union, the exclusive control of banks and other financial institutions on financial data of their customers is about to end. These new…

There is no doubt that when an enterprise’s customer base and product portfolio grows, it becomes even more complicated to manage multiple relationships with the customer across products, channels and geographies. Most organizations have a simplistic approach to manage this challenge: Customer Single View.…

The Banking industry generates a large volume of data on a day to day basis. To differentiate itself from the competition, banks  are increasing adoption big data analytics as part of their core strategy. Analytics will be the critical game changer for the banks. In this infographic we explore the scale at which banks have adopted analytics in their business.…

In an era of information, the use of Big Data analytics in the banking and financial services in India can be traced back to the early 2000s and the bank with the most actionable insights is the winner. While more than 70% of the banking executives worldwide say customer centricity is important to them, this requires a deeper understanding of customer needs. However, research has indicated that only 37% of the customers believe that banks understand their…

Stricter rules are being imposed on the financial sector in a variety of areas following the financial crisis. Regulators are more than ever involved in scrutinising Know Your Customer (KYC) processes and are large fines for non-compliant firms. Anti-money laundering (AML) practices have become deeper and more advanced to counter the financing of terrorism, corruption and crime. EMIR and Dodd Frank legislations were also put into place with the aim of improving transparency and reducing…

Bank of America COE Brian Moynihan recently disclosed that its mobile customers grew by 2 million, touching 70 Million this year. Wells Fargo and JP Morgan Chase have already reported robust growth in mobile customers in 2014.

This rise in mobile banking users is welcome news for the banking industry. This growth is not limited to the US alone. Britain also,…

From all indications, 2015 is well on its way to becoming the year of cloud computing. The feverish pitch of activities at key players on one hand and the data as well as observations of industry pundits affirm this. There are apparently a handful of reason to keep the IT industry leaders awake at night.  

For starters, per , 2014 revenues for cloud services grew by 60 percent.  The global cloud computing market, per Forrester, is expected to grow to over $191 billion by 2020. IDC…

Digital banking offers unprecedented opportunities both for banks as well as customers. It has provided banks breadth and ease in delivering their products and services to customers. As for customers, it has pushed service options and expectations to a new high. Given the opportunity spectrum, it is no surprise that banks have invested heavily in upgrading their digital preparedness. 2015 promises more investments in digital banking.

A definition of digital banking will be of help…

Post the financial crisis, banks in the US have faced increased regulatory scrutiny that has resulted in broader and tougher regulations. Bankers are fully aware of the investments and efforts they have to put in to comply with these regulations. Consequently, compliance function in banks is evolving towards a broader risk canvas that is now seeking tighter coordination between the first and second lines of defense. This poses new challenges to banks – from being compliant to getting the…

In the last few weeks we have seen new products launched by IT majors that have the potential to greatly influence the fortunes of the Analytics and Insights business. IBM’s Watson Analytics and Oracle’s Cloud based Analytics are just two new solutions/ platforms that have hit the market.  We can rest assured that many more such offerings will be launched in the coming weeks. As the products keep coming, they raise some important question for the analytics industry. What impact they will…