Suresh Shankar on entrepreneurship, artificial intelligence and banking

Suresh Shankar, founder of Crayon Data, talks about how entrepreneurship is all about persistence and perseverance, through one of his favourite anecdotes on the Chinese bamboo tree. One that will get all you budding entrepreneurs fired up and ready to make a change! Catch him in conversation with the University of Oxford and Said Business School. Suresh Shankar also discusses ‘obvious’ opportunities in the digital banking space and the financial…

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Interview with Nitin Chugh on personalization & digital transformation in banks

I recently interviewed Nitin Chugh, Country Head – Digital Banking at HDFC Bank Limited, and we discussed some hot topics in banking industry today: digital transformation, personalization, AI & machine learning, blockchain etc. HDFC Bank is an acknowledged Innovation leader in the BFSI space. Nitin heads the Digital Innovation Unit which works on new ideas, technologies and solutions, to build and deliver a comprehensive suite of digital solutions and products. He is…

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Digital transformation in Banking: Past, Present and Future

Regardless of how much people earn, the jobs they have or whether they’re part of the workforce, banking is a necessary routine. It may not come to mind as one of the most technologically advanced industries, but has still undergone some significant advancements that make the industry at large ready to serve an increasingly digital society. Some Banks Have No Physical Branches Not so long ago, one of the first…

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Top 10 trends in payments 2018 (Infographic)

The universe of banking and payments is ever evolving. 2017 has seen a number of significant changes in the payments industry, thanks to advances in technology. Consumers now have access to a myriad of ways to pay. As a result, payment and shopping habits change. e-Commerce and m-Commerce methods such as in-app and one-click commerce are becoming increasingly popular. In addition, the exponential growth of IoT, one can foresee a…

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Innovative tech start-ups win over banks: A tale of leveraging Big Data

For many years, banks and financial institutions dominated the currency trading arena and money transfer services. Banks were viewed as the most credible, reliable and efficient means of conducting international money transfers. However, the costs of using banks for these services are prohibitive. The Internet of Things has rapidly leveled the playing field, making it possible for disruptive enterprises to offer game-changing services to clients. Peer-to-peer currency exchange such as Currencyfair…

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Get chatty: Banks and their customers have a common friend

Chatbots are taking over the world. Banks have started investing in this intelligent chatty friend, to make their customer conversations easier and more efficient. Human – human to human- machine? …. Better? Safer? Faster? What are chatbots? Chatbots are programs that interact with customers usually over the internet to provide insights, services, and products. Rules power certain chatbots and some are powered by artificial intelligence. With the growing enhancements in…

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Say goodbye to boring, automated tele-conversations

Panic! One can’t truly appreciate the sense of this word, until you realize you have misplaced your wallet that has your credit cards! So, you frantically call home or office just to check whether you have left your wallet over there. And you finally realize that you have lost your wallet. That is when the moment of panic steps in! Someone may now have access to your credit and debit…

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Banks risk losing $600 billion of millennial spending

The banking industry needs to reimagine what current day banking means to millennials, or risk losing out on a potential $600 billion of indirect spending that millennials can influence. By the year 2020, Asia will be home to 60 percent of the world’s millennials, who will have an expected $200 billion in disposable income, giving them unprecedented spending power. Millennials are well-educated and financially savvy. They aren’t easily lured by marketing gimmicks and are…

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An interview with Jaiveer Singh, VP of Technology at DBS Bank(Singapore)

Tell us a little bit about yourself, and how you got into the banking industry? During my school days, I was a student of commerce & finance stream( I was doing ICWAI course). I heard about computers in the early 90s and felt this is something that might redefine how business & life will be conducted in the future. So I joined a computer programming course, and that’s how my…

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Note to banks: say “hello” to big data or “goodbye” to your customers

Originally appeared on Analytics Mag. What is the most difficult task for a bank? Acquiring customers? Retaining customers? Growing share of customer wallet? No. Being customer centric is the most difficult task for any bank. But why is being customer centric so important? The answer is simple. A customer who is better engaged is easy to retain, easy to acquire and easy to do business with. So, how can a…

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