December 20186With today's life in the fast lane, an increasingly significant number of customers in the finance industry are conveniently managing their money with a mobile device without having to go to a physical branch of financial service providers. This increased convenience has redefined the banking experience of both banks and bankers. According to PwC's 2018 Digital Banking Consumer Survey, last year saw an increase in the number of omni-channel consumers who choose to interact with their bank digitally using a smartphone, laptop or tablet. However, there has been a 5 percent increase in the share of customers, between 2017 and 2018, who prefer to use their smartphones over other devices for banking, indicating the growing popularity of mobiles in the consumption of financial services. Financial services firms are embracing the agility and flexibility that FinTech offers, and developing their own mobile enabled financial products and services to simplify user engagement and enhance their experience. In fact, FinTech mobile solutions enable customers to manage their finances, see an account overview, get notifications, freeze a card, transfer money overseas, track expenditure, and more. With such multifarious applications, FinTech solution providers are truly transforming the way finance industry works.Blockchain, AI, and biometrics technologies are being leveraged by FinTech solution providers to benefit customers in a myriad of ways. For instance, blockchain technology with its enablement of peer-to-peer transactions, eliminates the need for a central intermediary to perform asset transfers. AI and biometrics facilitate automation, security, customer satisfaction, and more. Digital-only banks--popular among millennials--provide apps that let customers manage money on the go, quickly and easily. In the nut shell, with the adoption of innovative FinTech solutions, the finance industry is reaping the multifaceted benefits. Write us your thoughts.Copyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 11 - 2018Contact Us:Phone:510-556-2284Fax:510-894-8405Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com DECEMBER - 11 - 2018, Volume 04 - 12 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesFINTECH SPECIALNick Mason nick@bankingciooutlook.comVisualizerBabu Mushtaq Issac GeorgeManaging EditorJames RobertsonSmart FinTech Services On-the-GoJames RobertsonManaging Editor editor@bankingciooutlook.comDan Stanley Justin SmithPoojitha ShettyEditorialKenneth ThomasRussell Thomas*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
< Page 5 | Page 7 >