Can traditional financial services firms learn from the Fintech start-ups before it is too late?
Technological innovation is creating new business models and revenue opportunities for FinTech firms globally. As disruption in the banking sector continues, what are the lessons that legacy banking organizations can learn from the new start-ups?
Access Bank Ghana has recently secured a EUR 15 million facility from the European Investment Bank (EIB) to support businesses across Ghana on a new lending programme after completing a thorough diligent process. The secured facility, which is the first engagement between Access Bank and the European Union’s long-term lending institution, falls under a wider ...
MTN Mobile Money customers with accounts in Bank of Africa (BOA) Uganda can now deposit and withdraw cash from their bank accounts to their Mobile Money accounts. This service from these two partner institutions guarantees
Lancée en juin 2010 (pour la version iOS), L’Appli de la Société Générale a été la première à proposer la « jauge », une fonction permettant de visualiser le solde du compte, sans connexion et authentification par le client. Fonction qui a été ensuite reprise par BNP Paribas ou Hello Bank via la « météo du compte ».
“IN the next three to five years the vast majority of our transactions will be performed on smart-mobile devices.” Retail banking is experiencing a seismic shift in customer behaviour thanks to the digital revolution that continues to effect fundamental changes in the way businesses and individuals transact. Nowhere is this metamorphosis in customer behaviour more profound than in Africa.
Given the lack of digital-payment penetration, consumers, banks, and governments in sub-Saharan Africa are still bearing the high cost of cash payments—costs associated with manual acceptance, record keeping, counting, storage, security, and transportation.
Mobile has grown significantly in recent years, with Google now saying that mobile search has surpassed desktop search. But columnist Kristine Schachinger questions the wisdom of blindly adopting a "mobile first" mindset.
First National Bank will be launching its own mobile service as of the 15 June 2015, as an extension to its FNB Connect offering, a pioneering feat for the South African banking industry. A plan for aggressive rates and exceptional banking services to its clients is high on the list of priorities fo
Despite being available in the UK since 2011, NFC mobile payments – in which you wave your mobile phone above a terminal to pay for something – are still something of a mystery to most of us. Well, we’re here to shed some light on the subject: here’s what’s available now and what’s coming soon in the world of contactless mobile payments. But first, let's bust a couple of myths about NFC mobile payment.
Thanks to big moves from Apple, Samsung, Google and others, the world of mobile payments is rapidly evolving. More retailers accept digital payments than ever before and these 11 tech companies — as well as the world’s most famous coffee chain — are leading the charge.
Competing effectively in the Belgian private wealth market means appealing to and building loyalty among the aspiring affluent, much like ING, which effectively transitions clients from personal banking to private banking as their assets grow.
ING and other private banks that are part of universal banking groups dominate the Belgian wealth management market. ING has reported that it has assets under management (AUM) of €6.8bn in Belgium, meaning that it holds a top three position in the Belgian wealth market. The bank’s success lies in the way that it operates a graduating service proposition in conjunction with tailoring services to appeal to the mass affluent. Its ultimate aim is to build customer loyalty to ensure that if its mass affluent clients do increase their assets, they will choose ING’s private bank over its competitors.
Within ING the mass affluent are catered for by ING Personal Banking, a service for which clients must have €125,000 in liquid wealth to be applicable. Clients can progress into Private Banking when they have approximately €1m in liquid assets. This graduated service proposition is an effective means of onboarding Belgian affluent clients before they are considered to be high net worth.
The range of services available through ING has led to a large segment of affluent individuals choosing to manage their wealth through ING’s Personal Banking channel. ING Personal Banking covers transactional banking needs alongside initiating the wealth relationship through the offer of investment advice and products, as well as planning services for inheritance and retirement. The combination of providing services tailored to clients with growing AUM and effectively graduating clients to more premium services has meant that ING has been able to leverage its large retail base, making it one of the more successful private banks in Belgium.
You’ve decided to buy a new pair of shoes, and you’re going to pay for them by tapping your smartphone against the checkout stand. It’s just like using your credit card — except that it isn’t. Here’s what’s really happening to the money on your phone, when you spend it and when you are just carrying it around.
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