Two hundred years ago Charles Darwin said: “It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change.” The capability to build own internal processes to quickly and correctly integrate new functionality into existing software is the key to successfully adapting to the ever-evolving financial sector.
November 2022 is the official go-live date for global banks migrating from SWIFT MT financial messaging to ISO 20022. The final deadline for this adoption is November 2025.
12 years ago, the first and most famous cryptocurrency burst onto the scene -- Bitcoin. Since then, more than 2,000 types of crypto coins have been registered on the market, and new cryptos are constantly appearing on the market.
Because of the stay-at-home orders and social distancing of the past year, the COVID-19 pandemic brought about accelerated digital transformations across different industries, including finance. With customers now looking for accessible solutions for their banking needs, banks used this time to strengthen their virtual infrastructures and embrace significant growth opportunities. Here are a few financial technology trends that have come about as a result of the COVID-19 pandemic.
When developing new products or expanding existing capabilities, it’s necessary to test the novation and immutability of the previously existing functionality. Reliable tools for functional, integration, regression and performance testing are essential.
Represented in 64 regions, Vostochny Bank is one of the largest banks in Russia and is continuing to expand its branch network. Vostochny Bank’s development strategy prioritizes the provision of high-quality financial services to residents of both large cities and small towns.
Bank ZENIT is offering its corporate clients the opportunity to connect to the salary payment system. To perform the salary payments, it is enough to transfer the whole amount in one order and send detailed information to the Bank in electronic form.
Internet connectivity is powerfully pushing back the limits of our reality – smart systems and environments fit smoothly into our daily routines, responding dynamically to behavior and anticipating needs through a knowledge of user preferences.
Convenience, the quality of financial products and customer support, and the resulting user satisfaction with a bank’s services directly depends on how well the bank’s internal business processes are organized.
Banking on the go through smartphones is now popular and easy-to-do. Users can choose a gadget from hundreds of models available on the market. However, smartphones are not the only smart appliance supporting digital payments today.
As the financial world moves quickly online, it is becoming more exposed to a widespread global threat – cybercrime. Today security measures need to be reliable and strong to protect virtual data and assets.
The 5G generation of cellular technology is right around the corner. As countries begin to roll it out, 5G will transform the way we live and work — and this will open up fresh opportunities for retail banking.
Half a century ago ATMs caused a revolution in the banking industry, eliminating the need to visit a bank branch to withdraw cash or deposit a check. Multifunctional ATMs that could perform basic financial transactions such as money transfers between accounts that previously were handled by tellers debuted in 1971. They showed that banking operations could be performed without the need for a branch or operator.
As the coronavirus Covid-19 is spreading worldwide, financial institutions are being forced to move their customer services fully online.
Almost a year ago, Apple introduced its first financial product – Apple Card. The project was implemented in partnership with Goldman Sachs and MasterCard.
The leaders in cloud technologies - Amazon and Microsoft - are paving the way to enhanced data processing and storage services. Businesses around the world are quickly coming round to the potential of these new opportunities. Cloud infrastructure is used by various business sectors, including financial organizations.
In 2014 Facebook acquired WhatsApp messenger and more than a year ago successfully launched its pilot in India. This February, the National Payments Corporation of India (NPCI) gave permission for the official rollout of the payment system.
The success of any business depends on demand for its products, profitability and customer loyalty, which is directly related to product quality and its rapid adaptation to changing customer needs.
Even though we are all grown up now and take life much more seriously than we used to do as kids on a playground, an enjoyable game still has a good chance of helping us reclaim our inner child.
Dear Ladies and Gentlemen, fasten your seatbelts and prepare to land in the year 2020. The business climate at your destination is very favorable for the financial sector albeit certain challenges are expected from time to time. We wish you an enjoyable stay, that you contribute to the development of pioneering technologies, and victory in the competitive world of banking.