Moment is King: Leveraging Real-time Customer Insights to Identify New Opportunities

Today’s consumer is unpredictable and impossible to fit in a set of categories. Therefore, a linear customer journey no longer accurately reflects the dynamic nature of today’s banking consumers. Instead, financial institutions should focus on customer moments to provide value and assistance in real-time.   Customer’s Life Happens Beyond Your Digital Channels Every customer is different and has their own set of needs, wants,… Continue reading »

5 Reasons Why Customers Switch Banks (and How to Emotionally Win Them Back)

Banking is personal and emotional. Major consumer surveys confirm that many banks and credit unions lose loyalty when they treat their customers as mere “accounts” rather than individuals with emotional needs. If a customer does not feel that their bank values their business or does not support them when they are in need, they may decide to switch to a bank that offers a… Continue reading »

From Necessary Evil to Valued Partner: Transforming Banking with Real-Time Customer Engagement

Trust is an extremely important part of banking relationships; as a consumer, you want to be sure that your data and money are safe. However, the reputation of financial services providers today is not enough to attract and retain customers in the long term.   Customer Engagement in Banking: How to Change the “Necessary Evil” Perception   Despite years of innovation efforts to improve… Continue reading »

Redeban: Reaping the Benefits of a Smooth Path to Cloud

Is your legacy infrastructure holding you back from reaching new heights? Learn how Redeban, a leading provider of bank transaction notification services in Colombia, overcame growth challenges and improved service quality by leveraging the inherent benefits of Latinia’s cloud native product.     The Challenge: Managing Service Demand Fluctuations with Legacy Systems Redeban’s transaction notification processing services experienced steady growth over the past 15… Continue reading »

Benefits of real-time payments

real time payments

Real-time payment (RTP) networks are booming in the global financial sector. Experts already estimate that by 2026 this type of payment will account for 25% of electronic payments, driving a new banking ecosystem that meets the current needs of customers. The specialized Fintech publication Finextra, in its article What the banks vs fintech debate gets wrong, explains how the rise of this payment system… Continue reading »

The Open Banking Revolution

open banking

What do financial institutions think of the rise of Open Banking? According to a survey of more than 700 banking professionals by software company Finastra for its State of the Nation Survey 2022 report, the impact of open finance is broad, global and necessary for the financial industry to move forward: “Open Banking is now universally and unequivocally regarded as a key part of… Continue reading »

The rise of challenger banks

challenger banks

The demand for digital financial services offered by challenger banks continues to grow worldwide, although not at the same pace. According to the report published by SEON, Neobanking Index: The State of Neobanks in 2022, 46% of the adult population of Brazil already has an operating account with a neobank, as does 26% of the population of India, compared with 8% of the adult… Continue reading »

Sopra Steria investigates the future of digital banking

Sopra steria, digital banking

Digital transformation has been a complex challenge for banks, mainly due to the lack of a clear digital strategy and the fear of taking excessive risks by letting go of their heavy legacy infrastructures. The exponential pace of implementation of new technologies for traditional banking is slower than the development dynamics of startups, which are much more agile and not subject to so many… Continue reading »

Payment cards evolve with APIs

card issuing

Legacy banking infrastructures were taken by surprise in mid-2010 by the arrival of new and fast-growing technology corporations such as Uber, Square, Instacar and Marcus. These companies implemented new payment solutions and ways of issuing cards through open APIs (Application Programming Interfaces) that make it easy to create customized payment card products with real-time funding for users. Banking has had to face continuous transformation,… Continue reading »

Banks must invest to improve their data security

IBM Security

The costs incurred by data breaches reached an all-time high during 2022 and banking is the second industry facing the highest losses. This position shows that financial institutions are not investing enough in data prevention and security, which then has a knock-on effect their customers. This is one of the main conclusions reached by the report published by IBM Security, “Cost of a Data… Continue reading »

In the face of banking’s challenges, Latinia solutions

economic benefit

Latinia’s experience is backed by more than 20 years of developing decision software and real-time communication products for the financial sector. Its tools specialize in bank filtering, so their degree of specialization is optimal as they are geared toward the specific needs of the financial industry, and their analysis of transactional events and customer intelligence data are designed to meet the specific needs of… Continue reading »

Virtual branches are the next step for banks in the metaverse

virtual branches

Is the metaverse merely a fad or a technology that banks should be embracing? Are virtual offices a necessary resource to ensuring future relevance? The metaverse is a trend that in recent years has gained traction in many sectors and the financial sector was by no means left behind; its aim is to capture the attention of younger customers to accompany them throughout their… Continue reading »