Mobile Banking is of strategic importance for Banks

From bricks and mortar to laptops and PCs — and now to smartphones and tablets — consumers increasingly want to manage all aspects of their lives on the go. This transition from physical to digital channels has been embraced by retailers, the travel and hospitality industries, and other verticals. For the banking industry — especially in the US — the transition has been more challenging.

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Mobile Banking and the Bloack Swan

Mobile Banking is growing faster than many banks have expected. Why is there still so much confusion and why does it matter? The risk for banks is that they are being left in the dust digitally, and even more of a concern, most don’t even know it yet, and I have evidence.

Black Swans are improbable, but obvious after you meet one. Mobile Banking seems to be such a case.

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What Brexit would mean for the UK financial services industry?

The result of the EU influence on UK financial services legislation is that the UK legislative framework for regulating financial services is entwined with EU regulation both because it has implemented directives and because it relies on regulations. Further, a large proportion of EU legislation implements international obligations or guidelines (ie those agreed at global level with countries other than just the EU), albeit the EU may “gold-plate” those obligations or guidelines for the purpose of its internal market.

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15 FinTech Companies Every Bank Should Know about

The rise of FinTech is both an opportunity and risk for traditional financial institutions. According to PwC analysis, financial service incumbents believe that by 2020, 23% of their business could be at risk due to FinTech innovation by 2020. To counter this, traditional financial institutions can respond to the threat of Fintech startups by partnering with them.

Wherever your bank is headquartered, plan a trip to Silicon Valley for your executives and innovation team to get to know these 15 FinTech companies that every bank should meet.

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