Banking and Lending Solutions

Remaining Relevant: Move Now to Tap Into These Top 10 Mega Banking Trends

16 Feb 2024

From evolving lending practices to new competition, and changing fraud risks and compliance needs, banks are constantly adapting to a shifting landscape. Below are 10 mega trends in banking: More RegTech Spending to Comply with Increasing Regulatory Scrutiny: With global financial regulations becoming more stringent, banks will also face increased ...

BNPL

Preparing for the Next Evolution of Buy Now, Pay Later...And Beyond

30 Jan 2024

Recent holiday shopping season data showed U.S. shoppers spent $16.6 billion dollars using BNPL plans, with BNPL volume increasing 14% year-over-year. A survey by the Federal Reserve Bank of New York showed 64% of respondents had been offered a BNPL loan, and 29% of that group had used it as a payment method within the past year. BNPL is also gro...

Open Banking

Making Good on the Promise of Open Banking Requires Technology and Solid Execution

07 Aug 2023

Open banking is here and is showing no signs of slowing down. According to a recent Finastra survey, 56 percent of US financial institutions (FIs) surveyed regard open finance as a “must have”, up from 45% in 2021. Globally, the open banking market is expected to grow to $43 billion by 2026 from its value of $7 billion in 2018. Open banking is th...

Embracing the Financial Services Innovation Opportunity of 2023

05 Apr 2023

Financial institutions are trying to navigate the economic downturn, adjusting loan and deposit pricing to align with market expectations, increasing credit spreads on loan offerings to protect against losses, and taking steps to guard against defaults. They say, “necessity is the mother of all invention,” and we are indeed witnessing a period of r...