Bank

Navigating the Challenges of Fintech Adoption in SMBs

Financial technology (fintech) products can help people associated with small and medium-sized businesses (SMBs) streamline many daily processes. However, adopting new technologies can cause uncertainties, even in highly motivated individuals. 

Change Resistance

Most humans naturally hesitate to make significant changes despite recognizing the associated benefits. That’s primarily because they prefer the familiarity of current processes since doing things differently almost always requires an adjustment period. 

Rising anxiety amongst homebuyers as banks fail to meet customer call needs

London, 7 November 2022 - Infinity, the global call intelligence and speech analytics platform, can today reveal that it has seen a significant spike in calls to financial service institution using its platform in relation to UK interest rates soaring.

During the week of 25th September, following Kwasi Kwarteng’s mini budget, Infinity’s data shows there was a 20% increase in calls from anxious customers looking for vital information about their finances.

8 in 10 banking customers want to know the carbon impact of their spending

New research has found that nearly 8 in 10 (75%) UK mobile banking users want to know more about the carbon impact of their spending. The findings indicate that there is an unfulfilled appetite in the UK retail banking market for green banking features and products.

The research, run by carbon footprint management experts Cogo and the Behavioural Insights Team, surveyed 2,007 UK mobile banking users to investigate customer attitudes towards banks encouraging them to reduce their environmental impact.

Emma Kisby, EMEA CEO for Cogo, says:

More Banking Executives View Fintechs as Partners in Economist Impact Report on Digital Competition in Global Finance Commissioned by WSO2

London, UK – 11th May 2022 – In a global survey of 300 C-suite banking industry executives, 54% say their financial institutions have faced greater competition over the past three years from digital alternatives while 47% of UK respondents found this to be the case. However, these executives also indicate that they are better positioned to compete. Notably, 85% of respondents reported that they have, to some extent or more, the necessary technological tools to create new digital products and services. This rises to 90% for UK respondents.

Kaleyra: “COVID-19 has Accelerated the Digitalization of Communications in the Banking Industry”

MIAMI, Fl. – March 2, 2022 – Speaking today at Future Digital Finance 2022 on behalf of Kaleyra, Inc. (NYSE: KLR) (NYSE American: KLR WS) (“Kaleyra” or the “Company”), CEO Dario Calogero said that “the banking industry must ensure it is leveraging every digital platform available to continue to meet customer demands in an increasingly online world.”

Modern Bank Heists: Increase in Cyberattacks Against Financial Institutions Amid COVID-19

Reading, UK – 14th May 2020 - VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today released the third annual “Modern Bank Heists” report, produced by VMware Carbon Black. The report combines original VMware Carbon Black threat data analysis with annual survey results featuring responses from 25 leading financial institution CISOs.

4 Types Of Business Loans You Need To Know Of

When it comes to business loans, the first thing that a lot of less experienced entrepreneurs think about are bank loans. The fact is that banks have a very specific set of requirements, which generally includes a history of business operations, which small businesses that have just started to establish themselves in the field do not have. However, what these entrepreneurs don’t know is the fact that there are various other options to get loans for their business, each of them with their own conditions, terms, and rates, which are mostly significantly easier to get than when it comes to banks.

UK Financial Institutions Unaware of Third-Party Risks Posed by Open Banking

London, UK – June 5, 2018 – Bomgar, a leader in identity and access management solutions for privileged users, has launched its 2018 Privileged Access Threat Report. The global survey explores the visibility, control, and management that IT organizations in the U.S. and Europe have over employees, contractors, and third-party vendors with privileged access to their IT networks. According to the report, formerly called the Secure Access Threat Report, 72% of UK financial service firms felt unsure whether they had possibly or definitely suffered a breach due to third-party access, and 69% also said they had possibly or definitely suffered an insider related breach in the last year.

Research: Retail banks lose over half of European applicants during on-boarding

Trondheim, Norway, 23rd May 2018 - New research released today reveals that retail banks now lose 52% of potential customers at the on-boarding stage, an increase of 35% in the last two years.

The Battle to On-Board II report was commissioned by Signicat, the world’s leading trusted digital identity provider. The report looks at digital identity and its effect on retail bank on-boarding in the UK, Germany, the Netherlands, and Sweden, and follows up on similar research carried out two years ago.

What Are the Warning Signs of an Insolvent Company?

If you are a business owner or a CEO of a business, you may get carried away with your day-to-day tasks and fail to see the big picture. If most of your daily work is focused on patching things up, this means that you are coping, rather than existing as a sustainable business. Coping for too long could get you in a place where you never wanted to be. Constantly monitor for the signs of insolvency and reconsider your strategy in order to save your business.