Oweniwe Ifeoma Destiny’s Post

𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐁𝐫𝐢𝐥𝐥𝐢𝐚𝐧𝐜𝐞: 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝟕 𝐃𝐲𝐧𝐚𝐦𝐢𝐜 𝐖𝐚𝐲𝐬 𝐀𝐏𝐌 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐬 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞! Did you know? Digital banking customers differ - 52% prefer app customer service over calls! It's not just about uninterrupted service; it's about enhancing customer experience So, how can banks ensure flawless app performance? The answer: Application Performance Monitoring (APM). Dive into Avekshaa Technologies' latest blog - https://lnkd.in/dA-ctqjy #BankingTech #APM #PerformanceBoost #Innovation"#Digitalbanking #CustomerExperience

AI's Role in the Future of Banking: Insights from Industry Leaders #BlackOps6 #6GoldenYearsWithATEEZ #편도행_해적선_6년째_순항중 #wednesdaythought #WrestleMania https://lnkd.in/dRp4Pent Artificial intelligence in banking is poised to drive the next wave of transformation in the financial sector. As the industry evolves, mobile technology has played a pivotal role in this digital transformation, setting the stage for innovative AI applications. This article explores how AI is revolutionizing banking, enhancing customer service, risk management, and personalization. Contextual Background Mobile technology has completely transformed the way banking services are delivered. With the rise of smartphones and apps, more and more people are accessing their banks right from their devices. This shift to mobile banking is a crucial part of the digital transformation in financial services. As banks adapt to meet customer demands for convenience and speed, the groundwork for the integration of AI in the financial sector has been laid. This means that banks can not only enhance their service delivery but can also leverage data in ways that were not possible before. The evolution of mobile technology has paved the way for exciting advancements in how banks operate. By incorporating AI, financial institutions can now personalize services, making them faster and more efficient. For example, AI can analyze user behavior in real time, offering customized suggestions and alerts that help customers manage their finances better. This combination of mobile and AI technology is truly setting the stage for a transformative journey in banking. Expert Insights Recently, Pierpaolo Barbieri, CEO of Ualá, and Milton Maluhy Filho, CEO of Itaú Unibanco, engaged in a compelling discussion about the impact of AI on banking. Both leaders emphasized how artificial intelligence is not just a technological upgrade; it's a fundamental shift in how banks interact with customers. According to Barbieri, the implementation of AI can create a more inclusive banking environment by providing services that reach underserved populations. Maluhy Filho added that AI enhances operational efficiency, allowing banks to focus more on customer needs rather than merely transactional processes. Their insights illustrate the growing importance of AI in the banking industry transformation and how it can lead to improved customer satisfaction and loyalty. As discussed, the two CEOs underscore that the successful integration of AI can elevate the customer experience to new heights. Detailed Analysis AI is reshaping banking operations across multiple dimensions. Here’s a closer look at specific areas experiencing significant transformations: Customer Service Improvements AI-powered chatbots and virtual assistants are revolutionizing customer service in banking. These tools are available 24/7, providing instant answers to customer quer...

Lost Identity: How Digital Banking Apps Became Copies Without a Soul Everywhere you look, digital banking apps seem to blend together—same colors, same features, and the same generic experience. A tap here for your balance, a swipe there for spending insights, but nothing truly stands out. Banks have become just another app on our phones, a functional tool but devoid of the spark that creates real user delight. Where is the uniqueness? The personality? The experience that makes someone think, “This is designed for me”? Digital banks emerged with bold promises: to transform how people interact with money, to offer personalization and engagement, and to challenge traditional banking paradigms. But somewhere along the way, that vision seems to have dulled. Today, many digital banks feel like re-skinned versions of the traditional banks they set out to disrupt. The numbers reflect this stagnation. According to a 2023 report by Insider Intelligence, while over 80% of millennials in developed markets have at least one digital banking app, only 30% feel that these apps genuinely cater to their needs. Moreover, customer churn rates among digital banks have risen by 15% over the past two years, highlighting dissatisfaction with the lack of differentiation. It begs the question: are digital banks simply replicating the traditional banking playbook in digital form? Or are they truly reimagining what banking can be in the digital era? The potential for innovation remains vast. Personalization powered by artificial intelligence could offer tailored financial advice unique to each user’s spending habits. Gamified savings tools could engage users while helping them reach financial goals. Even aesthetic elements like immersive UI/UX design could evoke stronger emotional connections. Take Revolut, for instance. Their recent push into budgeting and subscription management tools taps into real customer pain points, differentiating them from competitors. Similarly, Nubank’s ability to capture 70% of Brazil’s unbanked population stems from its focus on solving region-specific challenges rather than taking a one-size-fits-all approach. For digital banks to reignite their initial promise, they need to ask harder questions. Are they building for everyone, or are they building for individuals? Are they innovating, or merely iterating? Are they challenging norms, or falling into them? What do you think? What’s missing from today’s digital banks that could give them the spark of differentiation? Is it deeper personalization, innovative tools, or something entirely new? And where are the disruptors, the ones willing to break the mold and truly reimagine what banking can be? #fintech #digitalbank #ui #app #payments #finance #design

🚀 Transforming Retail Banking: The Future of Mobile Banking Apps 🚀 In today’s fast-paced world, the demand for seamless, on-the-go financial services is more significant than ever. 🌐📱 That’s why we’re excited to announce our latest digital initiative in mobile banking app development! Our new mobile banking app is designed to redefine the customer experience with: 🔹 Intuitive User Interface: Navigating your finances should be simple and enjoyable. Our app boasts a clean, user-friendly design that makes managing your money easier than ever. 🔹 Enhanced Security Features: Protecting your data is our top priority. With state-of-the-art encryption and biometric authentication, you can bank with peace of mind. 🔹 Personalized Financial Insights: Our app leverages AI to provide tailored financial advice and insights, helping you make informed decisions and achieve your financial goals. 🔹 Seamless Integration: Whether you’re at home or on the go, enjoy a consistent banking experience across all your devices. 🔹 Innovative Features: From instant transfers to customizable alerts, our app includes cutting-edge features to meet all your banking needs. We believe this initiative will not only enhance the convenience and efficiency of banking but also set a new standard in the industry. Stay tuned for more updates and get ready to experience banking like never before! #RetailBanking #MobileBanking #DigitalTransformation #Innovation #Fintech #BankingApp

Emotional AI in banking: next-gen personalization or privacy killer? In the future, banks will be able to know not only our financial history, but also how we feel about. The topic will be explore at Banking 4.0. The future of banking promises to be more personalized and more invasive than ever before. As artificial intelligence (AI) and emotional analytics advance, sooner or later banks will start to explore ways to assess and respond to customers’ emotional states, says Alex Kreger Founder & CEO of UXDA. He continues: This might sound like the stuff of science fiction, but the reality is that any bank could soon be monitoring customers moods to tailor their financial experience. The latest smartphone models have already introduced integrated AI solutions. And it will open the next frontier of user experience (UX) in financial services, where emotions play a critical role in decision-making and product offerings. Emotions play a critical role in financial behaviors, influencing everything from spending habits to investment decisions. By tapping into this emotional data, banks can not only enhance the user experience but also support better financial outcomes for their customers. For example, timely interventions during periods of financial anxiety could help prevent detrimental decisions. For banks, this technology will represent a powerful tool to deepen customer engagement and refine service offerings. Emotional AI will be able to provide insights into a customer’s mindset, allowing banks or other financial companies to offer products and advice tailored to their current emotional state. Consider the implications for financial advice. Traditional models rely heavily on demographic data—age, income, risk tolerance—to suggest products or strategies. Emotional analytics, however, adds a layer of immediacy, enabling banks to adjust their advice based on how a customer is feeling right now. For example, a customer feeling anxious during a market downturn might be reassured with safer investment options, while a customer feeling optimistic might be presented with opportunities that align with their positive outlook. This kind of emotional intelligence can also enhance customer loyalty. When customers feel understood and supported, they are more likely to remain with their bank, invest in additional products, and even recommend the bank to others. In this sense, Emotional AI could become a key driver of customer satisfaction and retention in the coming years. What do you think? Carmen Staicu, Dumitru Borţun, Alec Balasescu, Ph.D., Romulus Oprica and Alex Panican. I can't wait for your panel at banking40.ro.

Client success story: Moving a bank to a new, modern tech stack and mobile app thinkmoney provides no-nonsense banking for everyday people. There are no credit checks, no bank charges, no financial jargon, and a proprietary smart budgeting tool that does the heavy lifting for their customers to help them improve their financial standing and credit rating. - The challenge thinkmoney‘s ambitions for growth were severely hampered by an ageing, constraining, third-party-managed tech stack and mobile app. Due to an aggressive timeline and the scale of the task to effectively build a new bank for their 90,000+ customers from the ground up, Hyperact were brought in to help them bolster their internal product development capability and rapidly instil focus and best practice across several teams. - How we helped Providing a dozen practitioners - a mix of seasoned product and engineering experts - we quickly worked to understand the scope and user needs of the platform, before creating a value–based roadmap to keep everyone aligned and ensure that we unpicked the riskiest assumptions first. Working in two-week sprints, we collaboratively designed, tested, and built various elements of their new banking platform, including integrations with their new core banking provider and key functionality within their mobile app, utilising a stack of AWS, Go, and React Native. Our partnership with thinkmoney remains ongoing, as we continue to support them with designing and delivering features and improvements to increase their market share, delight their customers, and enable their transition to an in-house team. - Outcomes During our time working with thinkmoney, we have helped: Launch an entirely new banking platform and mobile app by a challenging deadline Deliver an improved customer experience, posting NPS and CSAT scores above the industry average Establish a best-practice product development culture Build a resilient, modern tech stack with 100% uptime Improve and focus systems observability Increase release frequency whilst decreasing release complexity Fulfil requests for additional product engineering practitioners within an average of 7 days Get in touch if you'd like to learn how Hyperact could help your organisation create and grow great products and services.

When was the last time your banking app surprised you (in a good way)? 😅 I’m sure most of you can’t remember! Now, think about your favourite apps: Netflix, Spotify, YouTube…. even TikTok. They don’t just keep up; they lead the way. Constant updates.  Smarter features. Intuitive experiences. They do this to keep their users coming back! So why are so many banking apps stuck in the past? Most banks are still operating with 10-15-year-old systems, leaving customers frustrated and underserved. People want banking that feels effortless, just like their favourite apps. Real-time notifications, predictive insights, and personalised features shouldn’t be a luxury—they should be the standard. At Plumery, we’re making that shift happen. Our plug-and-play solutions give banks the tools to deliver: ↗ Fast, seamless updates that keep pace with user demands. ↗ Data-driven features that enhance the customer experience. ↗ The agility to innovate without overhauling entire systems. Banking should feel as dynamic and personal as the apps we use every day—and we’re here to make it happen. Want to see how? Let’s talk! 

🚀 #Webinar - Join us on August 28th for a comprehensive look at mobile-first banking excellence, hosted by BAI. This session features insights from Alkami’s Head of UX/UI, Ty Griffin; Principal Sales Engineer, Nola Sedlaczek, PMP; and STAR Financial Bank SVP of Operations, Matt Singleton. Discover how to elevate your #FinancialInstitution’s digital channels from merely functional to engaging and profitable. Key Takeaways: 🔹Best practices for outstanding mobile UX 🔹Cutting-edge design and functionality strategies 🔹Insights from industry leaders Don’t miss this opportunity to enhance your mobile banking strategies!  #MobileBanking #UXDesign #Fintech #Innovation #Banks #CreditUnions #DigitalBanking

Wellby Financial understands that our members want more than just transactions from their digital banking experience. That's why we've implemented tools like easy direct deposit connections, integrated credit score monitoring, and identity protection—all accessible within our online banking platform. But we're just getting started! We know that bringing more features into a single app is foundational to helping our members prosper. We're committed to continuously enhancing our digital experience, ensuring that it empowers our members to manage their financial lives with confidence. #FinancialInnovation #DigitalBanking #MemberFirst #Fintech #WellbyFinancial

Day 9 of My 30-Day FinTech Insights Challenge! 💡 Neobanks: Redefining Banking for the Digital Age Traditional banking models are facing stiff competition from Neobanks—digital-only financial institutions that operate without physical branches. By leveraging cutting-edge technology and a customer-first approach, neobanks are transforming how people interact with financial services. The Growth of Neobanks in North America • The North American neobanking market is projected to reach $183 billion by 2030, growing at a CAGR of 22%. • In Canada, platforms like Wealthsimple and Koho are gaining significant traction. • In the USA, neobanks like Chime, Varo, and Current now collectively serve over 45 million users. What Makes Neobanks Unique? 1. Low-Cost Operations: • Operating without branches allows neobanks to cut costs and pass savings to customers through zero-fee accounts and higher savings rates. 2. Hyper-Personalized Services: • Neobanks use AI and big data to offer tailored financial insights, budget tracking, and real-time spending analytics. 3. Fast and Frictionless Experience: • Account opening, transactions, and customer support are handled seamlessly through mobile apps. Why Consumers are Switching to Neobanks • 67% of millennials and Gen Z users prefer digital-first financial solutions over traditional banking. • Neobanks often provide higher interest rates on savings and minimal or zero fees for checking accounts. • Instant peer-to-peer transfers, early pay deposits, and credit-building tools make neobanks especially attractive to younger demographics. Challenges for Neobanks 1. Profitability Concerns: • Many neobanks rely on venture capital funding and are yet to reach sustainable profitability. 2. Regulatory Scrutiny: • Compliance with financial regulations remains a challenge as neobanks scale. 3. Trust Factor: • Some consumers are wary of entrusting digital-only platforms with their funds. Economic Impact • Neobanks are driving financial inclusion by offering banking services to the unbanked and underbanked population. • Traditional banks are being forced to innovate, modernize their infrastructure, and adopt digital-first strategies. Why This Matters to Me Neobanks are more than just an alternative—they are a response to outdated banking systems. By combining technology, efficiency, and customer-centric models, neobanks are setting new benchmarks for what modern banking can look like. 🔍 Discussion: Do you think neobanks are the future of banking, or will traditional banks adapt and hold their ground? I’d love to hear your perspectives. #FinTech #Neobanks #DigitalBanking #FinancialInclusion #CanadaFinTech #USFinTech #BankingInnovation #FutureOfFinance #30DayChallenge #CustomerCentricFinance