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Bank of America CEO Brian Moynihan recently disclosed that its mobile customers grew by 2 million, touching 70 Million this year. Wells Fargo and JP Morgan Chase have already reported robust growth in mobile customers in 2014.
This rise in mobile banking users is welcome news for the banking industry. This growth is not limited to the US alone. Britain also, in the recent past, has seen an uptick in mobile banking users and the number is expected to reach 32.6 million by 2020 as per…Continue
Added by Naagesh Padmanaban on April 29, 2015 at 8:00am — No Comments
From all indications, 2015 is well on its way to becoming the year of cloud computing. The feverish pitch of activities at key players on one hand and the data as well as observations of industry pundits affirm this. There are apparently a handful of reason to keep the IT industry leaders awake at night.
For starters, per , 2014 revenues for cloud services grew by…Continue
Added by Naagesh Padmanaban on April 4, 2015 at 7:30pm — No Comments
Digital banking offers unprecedented opportunities both for banks as well as customers. It has provided banks breadth and ease in delivering their products and services to customers. As for customers, it has pushed service options and expectations to a new high. Given the opportunity spectrum, it is no surprise that banks have invested heavily in upgrading their digital preparedness. 2015 promises more investments in digital banking.
A definition of digital banking will be of help…Continue
Added by Naagesh Padmanaban on February 2, 2015 at 12:00am — No Comments
Post the financial crisis, banks in the US have faced increased regulatory scrutiny that has resulted in broader and tougher regulations. Bankers are fully aware of the investments and efforts they have to put in to comply with these regulations. Consequently, compliance function in banks is evolving towards a broader risk canvas that is now seeking tighter coordination between the first and second lines of defense. This poses new challenges to banks – from being compliant to getting the…Continue
Added by Naagesh Padmanaban on October 10, 2014 at 5:30pm — No Comments