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Due to PSD2, 2018 has become a game-changing year for bank customers, fintechs, and the entire banking sector in Europe. The implementation of the new directive enables bank customers to use third-party providers to manage their finances. Thus, companies like Google, Apple, and Amazon gain access to consumers’ bank accounts and are able to build…

Due to continuing growth of the Internet and mobile app usage, we have reached a point at which we don’t really know who has an access to our personal data. Europe’s General Data Protection Regulation that took effect last month is changing how businesses and public sector organizations can handle customers’ personal data. The Regulation…

AI technology drives the development of voice banking. Already now bank customers can easily accomplish simple tasks using voice commands. Banks are thus moving closer to their customers, while data safety and IT security have the highest priority. According to Statista, smart speaker adoption continues to climb. In the U.S., one in five Wi-Fi equipped…

Fraud attacks have become much more sophisticated. To combat the risks, fraud detection solutions have to be able to react quickly. Application of AI and Machine Learning allows keeping pace with fraudsters, increasing efficiency, reducing headcount in compliance and providing better customer experience. In fact, there are various types of fraud in the financial industry. An…

The Internet of Things is about launching the next phase of digital transformation. It involves various business areas including retail banking, in particular, the organization of bank branch offices and ATMs. In the recent years, the digital transformation had a lasting effect on the financial services sector. AI, Big Data, Cloud Computing, Blockchain, and IoT…