Creating a Better Digital User Experience Through Digital Lending

Financial institutions have seen a rapid increase of digital lending. Fintech solutions, or “disruptors” have caused major impacts in the market. This is due to the following statistics (Corporate One reference): 59% of payments are now done online or on mobile devices Desktop use is down 20%, mobile use is up 30%, 50% of consumers Read more about Creating a Better Digital User Experience Through Digital Lending[…]

Customer’s Expectations in Banking

With today’s technology, information is available at the speed of light at people’s fingertips, making nearly everyone expect more. Banking customers expect immediacy and efficiency with a touch of personalization in their financial services. Partnering with fintech companies is an easy way to meet the following customer expectations:   More Personalization: Customers want a personalized Read more about Customer’s Expectations in Banking[…]

The Evolution of Banking

Banks are one of the oldest, and most important businesses of our industries. Banks have two important economic functions, the first being financial intermediation. The money deposited, lent or invested in banks go towards the creation of governments, households, and business enterprises. Most banks are profit-seeking corporations that make their profits by charging borrowers. This Read more about The Evolution of Banking[…]

Ethical Banking

Ethical banking is defined as a banking system that embraces socially and environmentally conscious practices. It is a broad concept that can encompass anything, from providing financial aid to an environmentally-friendly company to participating in a charity event for housing. Banks try to practice ethical banking while simultaneously making profits, which is their top priority. Read more about Ethical Banking[…]

Financial Data Security

According to Info Security Magazine, “About 83% of consumers believe their banks are secure from cyber attack and trust it with their money and most sensitive data too.” It is interesting that the majority of consumers have this level of trust with their banks, as just one in five banking executives are highly confident in Read more about Financial Data Security[…]

Peer-to-Peer Lending Vs. Bank Lending

Do you need to borrow money? Traditionally, people have turned to their local bank to take out a loan for a range of commodities like a house, car, or even a luxury vacation. In the past several years, peer-to-peer lending has become popular due to the banking crisis that has affected people’s ability to borrow Read more about Peer-to-Peer Lending Vs. Bank Lending[…]

What Banks Should Learn From the Demise of Retail Store Fronts

The narrative of the struggling retail industry should be watched carefully by banks. The banking industry and the retail industry have several parallels: both depend on customer satisfaction to survive, both are industries that have business practices involving expensive physical stores, and both have been impacted by evolving shopping habits and aggressive competition from start-ups Read more about What Banks Should Learn From the Demise of Retail Store Fronts[…]

Zikher’s Usability Study

A usability study was conducted to test customer satisfaction derived from the use of digital lending platforms, particularly Zikher’s platform. Below is the methodology and key results from the study: METHODOLOGY The financial industry is embracing digitization, for it is the future of banking. As there are efforts to make the lending process completely digital, Read more about Zikher’s Usability Study[…]

What is Fintech & Its Benefits?

Fintech is reshaping the way financial services take place in the 21st century.  What is Fintech?  Investopedia defines fintech  (or financial technology) as “a portmanteau of financial technology that describes an emerging financial services sector in the 21st century.”  These services typically consist of banking activities that are in an online format that are but Read more about What is Fintech & Its Benefits?[…]

Advantages of Mobility in Banking

Advantages of Mobility in Banking include: Customers can perform transactions securely on mobile and web apps, and multiple security checks are in place. Banks can effectively advertise their financial products and tools to their customers. Employees in banking have upgraded their working process with smartphones and tablets. Banks can sync up with app development companies Read more about Advantages of Mobility in Banking[…]

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