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financial services trends
Technology

2017 Financial Services Trends : Moving beyond old-fashioned centralized IT model

By PwC.  The rise of digital technology has dramatically altered the landscape in the financial-services sector. Banks offer financial planning and trading applications through smartphones and social media; cloud technologies are widely accepted, and in many cases robotics are already reducing cost and increasing quality. Since 2011, the number of startups in fintech (technology-based companies that often compete against traditional…

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digital labor
Artificial Intelligence, Digital Lending

From theory to practice: onboarding digital labor in financial services

By PwC.  Digital labor is rapidly becoming one of our clients’ hottest issues. For financial institutions firms “get” that digital labor can be a game changer – in a challenging market, using automation in repetitive, business rule-driven work to rapidly cut costs, improve quality and scalability, and operate 24/7 is obviously appealing. Still, few have moved to enterprise adoption, and…

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digital labor
Digital Lending

Payback time: Improving ROI from digital labor in financial services

By PwC  For many financial institutions, digital labor poses a puzzle. The technology, which includes robotic process automation (RPA) and intelligent process automation (IPA), is clearly appealing. Many vendors dangle the possibility of new efficiencies, reduced headcount, and quick payback. But in many cases, financial institutions have picked the low-hanging fruit, so it may appear there aren’t many opportunities left…

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consumer lending
Digital Lending, Technology

Consumer lending: understanding today’s empowered borrower

By PwC  Today’s consumer lending environment is highly complex, driven by ever increasing customer demands, regulatory changes, and the digital revolution that is leading to a host of new entrants. Successful lenders need to navigate each of these challenges and recognize that a “one-size-fits-all” approach to customer experience is no longer suitable. Instead, they should develop a set of principles…

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digital mortgage
Digital Lending, Mortgage Tips

How digital mortgage processes are streamlining the borrower experience

By PwC.  Ask a mortgage lender, “Do you effectively use digital documents?” Most will highlight advances they’ve made in incorporating imaging into their processes. Then ask a borrower the same question. You’ll frequently hear a very different story—one full of paper documents, multiple resubmissions of the same document, misrouted mail, and other sources of borrower headaches. Thirty-six percent of borrowers…

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Qanta - 2018 digital banking trends - Blog
Digital Lending

Top digital banking trends to watch in 2018

1. AI use will explode It used to be that artificial intelligence in banking was strictly addressing issues like risk and fraud. Now, it is hard to find an area where it is not being exploited. We are talking compliance, customer experience, risk management, marketing, and product delivery. The list goes on. In fact, in a survey conducted by Narrative…

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Qanta - Customer Service - Blog
Digital Lending

4 ways chatbots improve customer service in banking

At the helm of artificial intelligence, every bank is racing to not just automate their customer service, but improve it. Nobody likes calling customer service, and no bank likes acknowledging that their website or services are insufficient and necessitate call centers. Increasingly, chatbots are filling the void. Just a few examples: Bank of America uses ERICA to give customers key…

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Qanta - Loan Conversion Rate - Blog
Digital Lending

How chatbots can improve your loan conversion rate in 2018

Chatbots deserve all the fuss and, in 2018, you can expect more and more marketers to talk about their Messenger subscribers with the same seriousness as their email lists. The benefits are numerous but, in today’s competitive banking environment, adding dynamism to digital lending and improving loan conversion rates is a top priority. Here are a few of the different…

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Artificial Intelligence
Artificial Intelligence

How financial institutions can start with artificial intelligence – now

By Jay Palter at BAI Banking Strategies Just one look at your smartphone is all it takes to remind you that digitization and automation in financial services is nothing new. But the recent heightened interest in artificial intelligence (AI) and banking is. (Go ahead. Ask Alexa.) The Financial Brand’s Jim Marous chalks it up to technological advances and real business needs: “The…

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