Attentiveness glows going off among bank credit cards suggest that lenders in general and card lenders specifically will have to watch spending trends closely as the return of inflation continues to exert new pressure on purchasing patterns. As consumers lean more and more heavily on credit cards, the effects of marketing efforts hatched during the pandemic and before may produce unpleasant side effects. And the impact of credit limit increases intended to promote “top of…

Over most of the past decade, fintech firms have experienced rapid growth and increasing consumer adoption, fueled by digitization, changing consumer behaviors, and abundant investor funding. In response to a continued inflow of investment funding, many fintechs prioritized hyper-growth above all else, focusing on acquiring users over achieving profitability.The funding environment shifted significantly as economic conditions deteriorated. Investors grew more risk-averse and emphasized profitability over growth. As a result, fintech valuations dropped precipitously. During the…

Strategic rebranding can drive big results across the board for financial institutions, with performance increases in acquisition and market share, with deepening relationships and service adoption, and with increased employee engagement. Different financial organisations achieved numbers like these through well-orchestrated strategic rebranding initiatives. Strategic rebranding can achieve the net member growth, growth in new customer acquisition, growth in young target acquisition (200-44 years old), loan growth, increase in mobile banking users, NPS, decrease in staff…

That Financial Institutions Should Expect This Year, the Fintech is a fast-evolving space. Ability to keep up with the pace of transformation could be a crucial determinant of success or failure in the next year. Knowing how to navigate the landscape of banking technology bolsters security and operational efficiency. It also elevates the user experience. Consider AI-driven solutions in anti-money laundering (AML) and know-your-customer (KYC) processes, for instance. These technologies do more than just speed…

What’s the difference between a digital and digitized bank? The key difference between digital banks and digitized banks is when the technology was introduced. With digitized banks, technology comes second. It’s layered onto existing banking systems as an afterthought to improve customer experience. Digital banks are born digital.Digitization in banking has many benefits for both the banks and the customers. Some of the benefits are: It lowers the operating costs for the banks by reducing…

Employee turnover widely used and common in business circles. So far, focus should on the causes of employee turnover. The key factors of employee turnover; determine the extent to which the identified factors are influencing employees’ turnover. Human resource is considered to be the center of all development processes of economy. But today’s competitive business scenario is deteriorating social conditions of human resources, hence causing employee turnover. The “seeds” or initial causes of turnover, arising…

Fraud cannot be attributed to one factor only. On the contrary, a multifaceted and multifactor approach to the study of fraud must be undertaken. Looking at a fraudsters perspectives, it is necessary to take account of motivation of potential offenders, condition under which people can rationalize their prospective crimes away, opportunities to commit crimes, the perceived suitability of targets for fraud, technical ability of the fraudster, the possibility and likelihood of fraud discovery and carrying…

The special governance of banks and other financial institutions is firmly embedded in bank supervisory law and regulation. Most recently there has been intense discussion on the purpose of non-bank corporations. For banks stakeholder governance and, more particularly, creditor or debtholder governance is more important than shareholder governance. Even though reform are still uncertain. Banks are special, and so is the corporate governance of banks and other financial institutions. Empirical evidence, mostly gathered after the…

Do we ever think of the amount of data we create each day? Every message we send, every credit card transaction, even every web page we open. This offers endless opportunities to leverage this data for the most forward-thinking businesses in many areas, and the banking industry is no exception. While digital banking is used by almost half of the world’s adult population, financial institutions have enough data at their disposal to rethink the way…