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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…

The payments industry has been rapidly transforming in the last few years. Increasing shifts to digital, consumer preferences changes and evolving regulations lead to the emergence of new payment trends. What can we expect in 2018?  Here is an overview: 1). Artificial Intelligence AI is one of the most commonly used terms when talking about…

The US credit card company Mastercard has recently announced that customers will soon have an opportunity to use biometric identification. The company expects to make customer shopping experience more convenient and safer. What does it mean for banks? From April 2019 all Mastercard users will be able to identify themselves using fingerprints or facial recognition…

The spread of smartphones and messaging apps is ubiquitous nowadays. Especially for digital natives, it is common to communicate via instant messengers. In fact, customers today expect to have a dialogue-based communication with their financial service providers. Some banks in Europe and the USA have already implemented the technology of chatbot banking for selected target…

Cryptocurrency is a virtual currency based on blockchain technology as a means of security. Blockchain was first conceptualized in 2008 by Satoshi Nakamoto, as the basis for the first decentralized cryptocurrency Bitcoin. Data source: www.statista.com