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Jack Henry and Victor Offer Embedded Payments Platform
Jack Henry and Victor Technologies have launched an embedded-payments management platform to help Jack Henry's clients capitalize on Payments-as-a-Service (PaaS) market opportunities. Current use cases include disbursements and receivables, as well as cross-border, escrow, title, and ecommerce payments. Using ACH, wire, and instant payments, the platform also enables virtual accounts and wallets, scales inbound payments to user accounts, and links to cards to help card users manage their balances at third parties.
Mantl Intros Deposit Origination Solution for CUs
Mantl, an account origination solutions provider, introduced its Business Deposit Origination solution for CUs. Mantl designed the tool with automated know-your-business and member workflows, automated 'memberization', staff guide, and real-time syncing across channels. The solution also offers digital document collection, dynamic application checklist and more.
NICE Actimize Launches AI-Powered Fraud Investigations Solution
Nice Actimize announced the availability of what they area calling the market’s first AI-powered Fraud Investigations solution that facilitates end-to-end fraud management capabilities from detection to investigations. Explicitly designed to enable fraud investigations post detection, the new solution features automated workflow and fraud-specific case management capabilities.
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HP’s New Remote Support Service Can Even Resurrect Unbootable PCs
HP announced what it calls the industry’s first out-of-band diagnostics and remediation capability that will enable remote technicians to connect, diagnose, and fix problems, even if the PC won’t boot. The service lets a technician, with permission from the user, connect to a virtual KVM (keyboard, video, mouse) under the BIOS/UEFI to run diagnostics and take remedial action.
Intel Launches Xeon 6 Processors and Gaudi 3 AI Accelerators
The Intel Xeon 6 6900P is the first in the Xeon family with performance cores (P-cores) designed for compute-intensive workloads and efficient cores (E-cores) for less compute-intensive work at a lower power draw. Intel is mixing and matching P-cores and E-cores up and down their new Xeon 6 lineup depending on their target market. Intel claims Xeon 6 6900P delivers twice the performance of its predecessor thanks to an increased core count, double the memory bandwidth, and AI acceleration capabilities embedded in every core. In addition to the P-cores, Intel has added AI inference capabilities to the Xeon 6900P lineup to bring AI coprocessors to CPUs.
How Soon Will AI PCs Replace Traditional PCs in the Enterprise?
There’s much anticipation among enterprises and consumers alike for AI PCs, the evolution of computing that integrates dedicated AI hardware and software into everyday machines. But as with any new technology, it’s unclear when AI PCs will finally have their moment. Gartner forecasts that 43 million AI PCs will be shipped this year. Similarly, IDC predicts that 57 million units will be shipped in 2024, and by 2028, AI PCs will represent 92% of all PC shipments worldwide.
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Coreless Banking: The New Evolution of Core Banking
In theory coreless banking is a revolutionary approach to core banking that transcends the limitations of legacy and modern legacy systems. Coreless banking is built on the concept of a truly componentized architecture, where standalone components can be deployed independently. This modularity is the key to its flexibility and power. This article lays out the advantages of coreless banking.
AI's Key Role in Uncovering Hidden Value in Document and Data Automation
This article states that documentation is an area that is ripe for automation: approximately 90% of data in the enterprise is unstructured, and less than 1% of data is used in decision-making. It contends that AI is unlocking a whole wave of transformation in processes that are contingent on unstructured data. It concludes that business leaders should first look to identify areas where AI can drive outsized value and focus on starting small, proving value and establishing momentum.
Al-Driven Dashboards: How Predictive Al Analytics Is Shaping the Future Financial Forecasting
The author says that traditional financial forecasting, which often relies on static spreadsheets and labor-intensive processes, is no longer sufficient to meet the demands of contemporary business operations. Therefore, the integration of Artificial Intelligence (AI) into financial forecasting is not merely advantageous but indispensable for organizations striving to navigate these complexities and achieve long-term success. He goes on to highlight the key benefits of Al-driven predictive analytics in detail.
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Dejavoo and SPARE Offer Support to Its Communities in Times of Disaster with Virtual ATM Technology
Payments provider Dejavoo has added a new tool for cash accessibility. In partnership with SPARE, Dejavoo is offering a virtual ATM solution to provide critical financial support in disaster-stricken areas. This system is designed to give individuals immediate access to cash, even when traditional banking infrastructure may be compromised.
Super ATMs: A Game-Changer Amid Branch Closures
The Atlanta Fed notes that as access to traditional FI branches declines, innovations like super ATMs are emerging to help meet the need for accessible financial services. Super ATMs offer advanced functionality that includes the ability to pay bills, manage PINs, and top-up mobile phones.
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Mobile Banking Features Must Keep Improving (Or Else)
Mobile banking apps have become table stakes for FIs, especially among Millennials and Generation Z. Research from MX earlier this year indicated that a decent mobile banking app is a must-have for nearly one in four consumers starting a relationship with a FI. Now a new round of MX research indicates that the quality of the mobile banking app offered by a consumer’s banking provider can be the basis of a tighter relationship — or break the inertia that traditionally kept unhappy accountholders onboard. This article explores the key features that are in demand from mobile bankers.
FIs Have a Missed Opportunity with Alerts
In her latest report, Six Alert Flaws That Banks Can Fix Today, Lea Nonninger, Digital Banking Analyst at Javelin Strategy & Research, discusses the common flaws in institutions’ alert systems and details the steps they can take to maximize the impact of their alerts. “Once the categories are more defined and alerts are better advertised, that will be step one in fixing the flaws in alerts,” Nonninger said. She also offers other more detailed alert advice in this article.
Innovative Banking Apps for Better Consumer Experience
Consumers want to do more than transactions on banking apps. They’re increasingly interested in finding mobile banking apps that provide intuitive experiences, personalized insights and tools that align with their financial lives. According to Alkami’s Generational Trends in Digital Banking Report, 48% of millennials have abandoned a digital banking experience due to frustration. This article provides 6 examples of mobile banking innovations.
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Oracle Introduces Financial Crime and Compliance Management Monitor Cloud Service
Oracle announced Oracle Financial Crime and Compliance (FCCM) Management Monitor Cloud Service. They say that their solution offers a sophisticated and comprehensive business analytics reporting system with a dashboard approach designed to meet the unique needs of AML workers. This role-based solution uses typologies based on various people, organizations, and their characteristics in the context of various types of financial crime, and provides those responsible for compliance programs with access to critical Key Performance Indicators (KPIs) and metrics.
Nanotechnology Meets Banknotes
Giesecke+Devrient (G+D) has introduced an innovative new security thread for banknotes. They claim that their RollingStar Venus technology is the first thread to utilize nanotechnology combined with micro-mirrors, enabling two brand-new effects for secure authentication. They state that their blend of nano-effects and cutting-edge mirror technology makes RollingStar Venus a standout feature that captures the viewer’s attention and makes banknote authentication easier than ever before.
AI-Powered Fraud Detection: Transforming Risk Management in Financial Services
The author is convinced that AI-powered fraud detection represents the future of risk management in financial services. He says that AI offers advanced, real-time fraud detection capabilities that far surpass the efficiency of traditional methods, enabling FIs to detect and address fraudulent activities with greater precision and speed. He concludes the question for FIs is no longer whether to adopt AI solutions, but rather how quickly these technologies can be implemented to stay ahead of emerging threats.
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Technology and Marketing
Elevating the CMO: Why Strategic Marketing Is Key to Growth
This article states that in the highly competitive and often commoditized banking sector, the consequences of deprioritizing marketing and the CMO role could be particularly detrimental. It goes on to suggest that an effective CMO will focus on these 3 strategies: 1) Driving a Recognizable Brand; 2) Being Distinctive; and 3) Reinventing Marketing as an ROI Tool.
Banking Social Media Strategy: Developing Impactful Content
Many people believe the old saying is true: Content is king. Some observers posit that social media is about making a connection, but making that connection can be challenging. This article offers numerous key tactics to help create connections and successful content.
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Who Are Buy Now, Pay Later Borrowers, and What Are They Buying?
Buy now, pay later (BNPL) exploded in popularity as the COVID-19 pandemic forced more shoppers online, driving $75 billion in online spending in 2023, up 14.3% from 2022, according to Adobe. BNPL providers like Affirm and Klarna boost shoppers' purchasing power by lending them the money for purchases, which they repay in installments spread over as many as 36 months, although the most common products are four-installment payment plans. Because most BNPL providers do not report their loans to the credit reporting agencies, comprehensive data on BNPL delinquencies is scant. This article provides five charts illustrating how BNPL is currently being used.
Where "Pay by Bank" Is Heading for American Consumers
Among Gen Z consumers, 72% expressed a strong willingness to use pay by bank. However, some people—particularly boomers and Gen Xers— are averse to giving out their banking credentials. Nevertheless, some analysts predict that there will be a lot more utilization of pay by bank within everyday spend categories such as supermarkets, fast food and gas stations, not just online transactions.
Visa Announces Pilot Launch of Visa Commercial Solutions Hub
Visa announced a new commercial payments ecosystem, the Visa Commercial Solutions Hub which they say will be an integrated platform, providing a more modern, personalized and consistent experience for users to easily navigate and accomplish key payment-related tasks. The VCS Hub is moving into an initial pilot phase this month, focused on an enhanced and expanded B2B Payables experiences.
UX Strategies That Are Shaping Digital Banking Success
This article explores key UX concepts and actionable strategies that FIs can implement to elevate their digital offerings.The article offers up several UX features that have become essential for offering a superior experience: 1) Brand Names and Icons; 2) Detailed Categorizations; 3) Subscription Payments; 4) More Transaction Details; 5) Spending Overview and Analysis; and 6) Personalized Budgeting Tools.
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Aryaka Brings CASB into Unified SASE Fold
Aryaka continues to build out its SASE platform, and at the heart of this update is Aryaka’s new cloud access security broker (CASB). A CASB is used to help secure access to cloud and software-as-a-service (SaaS) applications. The new CASB capability is directly integrated into the Aryaka platform in a bid to enable organizations to have more control and visibility over network traffic in and out of cloud applications.
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How Will Generative and Conversational AI Impact Call Centers?
Picture a world where generative AI, conversational AI and large language models (LLM) reinvent service levels and the agents’ role in contact centers. Now picture the opposite, where over-promised benefits and service errors squeeze these technologies into a reduced, complementary role. The author explores both of these scenariso as well as the benefits and pitfalls of implementing AI in the contact center in this article.
Best Practices for Integrating Chatbots into Your Organization
Tha author is convinced that in a world where chatbots have so much to offer and are relatively simple to deploy, there's little reason not to use them. That said, he quickly notes that simply deploying a chatbot is no guarantee that your organization will gain a competitive edge or enjoy critical efficiencies. He goes on to highlight best practices to help ensure that they are effective.
RingQ Launches New Cloud Call Center Solution
RingQ announced the launch of its new cloud-based call center solution. Key Features include: Unified Communications Capabilities; 2) AI-Powered; 3) CRM Integration; Built with Security and Compliance in Mind; and 4) Remote Agent Ready.
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