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The financial services industry is investing in AI and generative AI as uses for both technologies expand. Ninety-seven percent of FIs plan to increase investment in AI to identify uses, optimize workflows and enhance their infrastructures, according to chip-making behemoth Nvidia’s “State of AI in Financial Services: 2024 Trends” report, published today. The study surveyed […]
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Vaidik Trivedi
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Whitney McDonald
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Whitney McDonald and Brian Stone
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Whitney McDonald
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Brian Stone
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Despite strategic investments in cybersecurity, the financial services sector is no fortress. Attacks are constant regardless of the amount of money and talent poured into the sector, according to “Global Perspectives on Threat Intelligence,” a report released on Monday by cyberthreat intelligence firm and Google subsidiary Mandiant. In a survey of 1,350 security executives in […]
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Brian Stone
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Americans are leaning on the use of digital banking and its associated tools to help feel financially resilient amid economic uncertainty. Digital adoption has continued to grow, and the 46% of Americans who consider themselves financial experts rely more on digital tools now than they did in 2021, according to KeyBank’s “2023 Financial Mobility Survey.” […]
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Brian Stone
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As the banking space continues to evolve, financial institutions are finding that companies they previously considered rivals may be potential partners. In a survey of 792 bank decision-makers in 50 countries conducted by France-based Sopra Banking Software, 77% of senior banking executives said they “feel pressured” to partner with fintechs to stay relevant in the […]
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Brian Stone
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Bank clients are increasingly switching financial institutions when they become frustrated or disappointed by their mobile banking experiences. In fact, one in three users younger than 40 said they have switched banks for a better mobile experience, according to the “Bank to the Future” report published Dec. 15 by Stockholm-based mobile software company Sinch, […]
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Brian Stone
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Banks and credit unions will invest in their customer and member engagement offerings in 2023 as more clients desire relationship banking. Financial institutions (FIs) plan to invest in digital improvements, physical branch support, contact center technology, marketing, operations and loan technology, according to the report “ENGAGE 2023: Customer Engagement in Banking: Annual Trends Report” released […]
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Whitney McDonald
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Chief financial officers and treasurers are feeling squeezed in today’s market as they juggle multiple priorities, and they can look to technology and automation to relieve some of that burden. Investing in technology can help companies reduce costs, manage growth and improve operational efficiencies — but 58% of companies don’t have a formal digital transformation […]
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Whitney McDonald
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Cybersecurity threats that place bank information and personal data at risk are on the rise as the holiday shopping season officially kicks off with Black Friday and Cyber Monday. Cybercriminals are targeting online shoppers by scraping sites for credit card and banking data, according to a recent report by cybersecurity firm Kaspersky, which monitored cyberthreat-related […]
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Whitney McDonald
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