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Gone are the days when you had to wait in line at a brick-and-mortar building to transfer money or pay your bills. Customers require convenient banking services on their fingertips. “Anytime anywhere banking” becomes a motto for banks who want to keep up with the speed of the modern world and stay in the league.

Modern payment options abound and pose significant threat to the legacy banking systems. For the mobile payments, Juniper Research estimates that the combined market share of Apple Pay, Samsung Pay, and Google Pay will reach 56% by 2021 in the US. See how custom software developers help banks compete amid changing business landscape.

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…