Faced with tech that is getting older by the minute and harder and harder to maintain, banks have some difficult choices ahead of them when it comes to core modernization. They have to find a way to run the bank and change the bank at the same time.
In today's show, two experts on how banks can win at both running and changing the firm break down how to keep employees motivated, how to keep the scope of the modernization in check, and most importantly, how to get it all right the first time.
Generative AI is transforming industries like finance by streamlining data analysis, boosting creativity, and accelerating professional learning.
To harness AI's power effectively, financial institutions should establish clear guidelines and training to mitigate the risks of over-reliance on this technology and improve its reliability.
Embedded finance programs can strengthen the bottom line and help brands capture more customers and business, and for most payments are the most common point of entry.
But brands can go further and stack multiple embedded finance offerings to build a suite of products that is closely tied to how their target audience interacts with their products and services.
The current shopping experience only services the customer as far as the purchase, but banks and merchants can work together to help customers find ease in tracking their finances and managing subscriptions.
Mastercard's, SVP, Consumer Clarity and Fraud Insights, Melanie Fuller, dives into how consumers' relationship with their money has evolved, and how FIs and merchants can use this change to make the digital banking app do more than just holding money.
