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Tech Talk: Banking apps, POS terminals, digital-first crime, and more!

  • Chime, Current lead U.S. banking apps
  • Protecting against digital-first crime with AML
  • POS terminals to grow by 156% in 5 years
  • How is AI used in fintech?
  • Banking access for fintechs
  • Digital services delivery & AI
  • A digital blind spot – corporate banking
  • DeFi may not herald independence from banking
  • Can AI help you win over Gen Z and Millennials?
  • Spam, Scams & Breaches
  • Updates, Patches & Alerts
  • and on the lighter side...

Chime, Current lead U.S. banking apps
Chime was the most downloaded digital banking app in the U.S. during the first half of 2021, with 6.4 million installs, according to Finbold, which cited data collected by Apptopia. According to Apptopia, the top 10 digital-first banking apps in the U.S. recorded 16.33 million installs during the first half of 2021. Banking Dive has the details.

Protecting against digital-first crime with AML
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important. This also means banks must work to ensure their online services are kept secure against the bad actors. PYMNTS.com has the details.

POS terminals to grow by 156% in 5 years
A new study by Juniper Research has found that smart POS terminals globally in service, where analytics and loyalty can be integrated directly to the terminal, will increase from 13.7 million in 2021, to 35 million units in 2026. Finextra has the details.

How is Artificial Intelligence Used in Fintech?
AI has of course come a long way and is now used for a wide variety of activities. It is particularly of interest to fintechs, either to develop it or use it themselves, as it has so many beneficial use cases. The Fintech Times has the details.

Banking access for fintechs
Payment technology firm Tribe Payments has partnered with Banking-as-a-Service (BaaS) provider ClearBank to expand the banking options for its fintech customers. FinTech Futures has the details.

Digital services delivery & AI
The bank of the future will be powered by digital services delivery and AI decision-making. As financial institutions (FIs) continue to adopt and deliver more digital service channels, they also open the door to previously untapped data that can be used to fuel actionable AI decision-making capabilities. The Fintech Times has the details.

A digital blind spot – corporate banking
Retail banking customers today can reach for their phones and easily transfer money, pay bills, and open new accounts in minutes. Unfortunately, corporate customers can only dream of banking with the same speed and convenience. That may be changing. FinTech Futures has the details.

DeFi may not herald independence from banking
The promise of decentralized finance (DeFi) is that the advent of cryptocurrencies, and perhaps more significantly, blockchain, will eliminate the reliance on the traditional players in financial services. But the wholesale abandonment of the centralized financial model will be slow in coming, if it comes at all. PYMNTS.com has the details.

Can AI help you win over Gen Z and Millennials?
So you've got a huge market, ripe for opportunity, who is speaking their own language, running headfirst towards all things digital, and who want to trust the brands they work with in a time of increased competition. How do you provide them with the kind of customer experience that will turn clicks into loyal customers? FinTech Futures has the details.

Spams, Scams, and Breaches

Updates, Patches, and Alerts...

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

In 2017, the Melbourne International Comedy Festival unveiled the world’s first A.I. comedian, aptly named, LOL-BOT. LOL-BOT is a comedy-tech prototype that can generate its own on-the-spot jokes and pick up on real-time human reactions. LOL-BOT - The World's First AI Comedian

First published on 07/09/2021

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