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Banking

Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players active in Latvia are headquartered in foreign countries – the United Kingdom, to name one – despite maintaining offices in Riga and employing staff in Latvia

founded 24 Jan 2023

Julija Jevstignejeva

Banking infrastructure for fintech, e-com and busi

Magnetiq Bank

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Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 6. From Rip and Replace to Modernisation – The Approaches to Addressing Legacy Core Challenges

Why the time is right to modernise Nobody ever said that replacing a core system would be cheap or easy, and we highlighted this previously when we discussed the challenges of replacing core banking. Nevertheless, not all projects to replace core banking have been failures. Below, we discuss the different ways that banks have approached core bank...

13 February 2024 /sibos /retail

Chirag Shah Founder and CEO at Nucleus Commercial Finance

Fintech evolutions in 2024

The evolution of fintech has been rapid, but there is still scope for enormous advancement across a broad range of categories. And 2024 holds huge potential, particularly regarding the end-user experience. But these advancements may be tempered by increased scrutiny in areas including regulation and security. So, what can we honestly expect from f...

06 February 2024 /predictions

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 4. The Evolution Of Banking

The previous blogs in this series taught us how banking distribution and core banking technology have evolved over the decades. Banks are criticised for lacking innovation and not being progressive with technology, but the exact opposite is true for some. We will later share more on banks' significant challenges when considering replacing their co...

30 January 2024 /payments /retail

Siobhan Byron EVP, Universal Banking at Finastra

Unlocking inorganic growth in the U.S. community banking landscape

In the ever-evolving landscape of community banking and credit unions in the United States, the theme of inorganic growth has become more than a trend; it is a pivotal force that can shape the future of financial institutions. Inorganic growth, in the form of acquisitions and strategic partnerships, presents a golden opportunity for community banks...

25 January 2024

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 3. The Evolution of Banking Distribution – From Apps to APIs

Before the introduction of technology, banking had always been a face-to-face business. Yet even personal interactions have evolved from happening anywhere to meetings in coffee/tea shops and then having dedicated branches where banking happened in person with physical money. At this point, everything was recorded in paper ledgers till as late as ...

23 January 2024 /payments /retail

Brad Strock SVP, Group Executive, Payments at FIS

Make debit cards add up for your bank

For consumers around the world, debit cards have long been a mainstay of the payments experience. But have you ever considered how this basic banking staple could help you drive growth? From novel concept to global conquest When debit cards debuted in the 1970s, the concept of paying directly from your bank account was nothing short of revolutionar...

18 January 2024 /payments /predictions

Nick Green Director at Purple Patch Broking Ltd

Data contract flexibility: Benefits and strategies

Data contract flexibility makes a significant difference in how financial institutions respond to market shifts and manage spend. Why? Because with the right flexibility, institutions can align their contractual commitments with their actual needs and market conditions, leading to improved efficiency, cost savings, and a stronger competitive edge....

18 January 2024 /retail /crime

Nick Green Director at Purple Patch Broking Ltd

Overcoming bureau lock-in and leveraging multiple data feeds

An emerging pain point many financial institutions grapple with is ‘bureau lock-in’ – over-reliance on a single credit reporting agency (CRA). This data dependency narrows perspectives to one view, restricting the firms to the costs and data quality of that one provider. Of course, this greatly impacts the comprehensiveness of credit risk assessme...

17 January 2024 /retail /crime

Santosh Radhakrishnan Chief Commercial Officer at XYB by Monese

No 2. The Evolution of Core Banking Technology – From Mainframes to Beyond Cloud

To understand why coreless banking is such a paradigm shift, we must travel back in time and track the evolution of banking channels, products and services. Let’s rewind 60 years to a world before core banking when the first computer was used to automate paper ledgers. In 1959, Barclays was the first bank to buy an electronic computer, an Emidec ...

17 January 2024 /payments /retail

Raktim Singh Senior Industry Principal at Infosys

Why 'Agile and Adaptive Banking' is the only survival mantra.

The banking industry is characterized by constant change, and adapting is crucial for capitalizing on opportunities and minimizing risks. The increasing demand for real-time information is causing a corresponding evolution and escalation in customer expectations and a transition from physical to virtual service delivery. Need for Agile and Adapti...

12 January 2024 /retail /wholesale