What We Talk About When We Talk About Digital Transformation

The recent headline grabbing announcement that Banco Santander has signed a USD $700M contract with IBM got me thinking… what’s up with ‘Digital Transformation’ these days? Santander’s announcement was all about digital transformation… and they are a forward-thinking bank. The new global technology agreement is designed to increase efficiencies in the bank’s operations, enable it to be more innovative and deliver new products, faster. But not every bank can pony up $700M and not every bank has suitable technology in place. It got me thinking, what is actually needed for digital transformation?

Request for Pay – What Does It Mean For Financial Institutions?

What do banks – one with $60B+ in assets, one a mid-size regional bank, and one, a small innovative credit union – have in common with payment networks and the ‘Big 4’ consulting firms? They were all part of the first ACI #PaymentsForBreakfast event in North America! The theme was real-time payments, but the focus was more specifically on Request for Pay.

US States' Rights and Fintech?

I moved to the United States (from England) well over a decade ago now, but one thing that I’ve always found interesting, puzzling and at times downright dumbfounding is the various levels of government. City, county, state and federal government bodies – all with a role to play. However, as I studied the history of my new home, I’ve became increasingly fascinated with how the Constitution and Bill of Rights were written.

Can Corporate Banking be as Easy as Ordering Pizza?

ACI recently hosted Greenwich Associates on a webinar to discuss corporate banking. While not a topic that would usually make attendees salivate, the discussion turned toward ordering pizza (maybe, because it was close to lunchtime) and Greenwich highlighted how corporate banking should be as easy as ordering pizza.

Three Key Takeaways from the Latest Payments Insight Survey

Blinkist is a reading app that summarizes books into 15-20 minute reads; these reads are called “blinks.” It’s helpful for a few reasons – I can scan books before I purchase them, I can get new ideas without having to read the full book, and I can learn to summarize information. It’s safe to say that I (and probably many who are strapped for time) are a little obsessed with Blinkist! So here I present my own summary – in three key takeaways – of the new ‘2018 Global Payments Insight Survey: Retail Banking,’ which finds that 51% of banks are increasing spend on payment technology.

4 Reasons Why You Must Future Proof Your Technology

What does future proofing your technology mean? In my view, it means preparing your bank to deliver the best customer experience possible--today and tomorrow. Research from Greenwich Associates indicates that the customer experience and ease of doing business are key drivers of loyalty. Extracting value from your technology investments so you can provide a superior customer experience is not only important because of the impact on service, but also on loyalty.

I want to focus on 4 reasons why future proofing your technology is important. These insights are a sneak preview into some of the findings from our upcoming whitepaper produced with Ovum, the annual Global Payment Insight Series.

Alternative Payments, Immediate Payments and Collaboration—Big Initiatives That Will Bring Big Value in the Middle East

We recently wrapped up an exciting Seamless Payments, Middle East conference. Attendees debated about numerous industry topics, with considerable buzz around alternative payments and immediate payments.

The Middle East Presents Retailers A Growing Opportunity But Faces Two Challenges

36% of Middle East residents are digital shoppers¹  and are expected to spend $19B² online in 2017; with this spend figure rapidly growing to $34B in 2021. Although cash is the preferred method of transacting, the region is edging toward a digital society. In the UAE and Saudi Arabia, nearly two thirds of the population has smartphones—fueling shopping online growth.³  This prevents retailers new growth opportunities.

Seamless Payments Africa and the Region’s Evolving Payments Landscape

Blockchain is overhyped and misunderstood; consumers want consistency; and customer centricity and collaboration are not a project. Although they’re not necessarily my own sentiment, these are my three key takeaways from the Seamless Payments – Africa conference, which wrapped up recently in Cape Town.

Blockchain for Retailers: Producing Real Business Benefits

When I read about blockchain, I typically come across three use cases: cross-border payments, security issuance and digital currency. These have all been proven to work—and they are also finance-related. But the payments ecosystem includes a lot more than just financial institutions. This post explores the potential impact that blockchain will have on retailers and their value chain.