The use of bots in the financial industry: advantages and challenges

Posted by media on May 4, 2017 at 9:00 AM

Despite having overcome the crisis that began with the collapse of the Lehman Brothers, the financial industry has since faced a new context characterized by more restrictive regulations - especially in terms of provisions - and a greater distrust from consumers, who demand more personalization and accessibility regarding their financial products and services.

This double factor has led banks to a complex situation: one on hand, their profit margins have decreased; on the other, they have noticed how their customers’ loyalty has wavered. All of this has forced them to combine efforts to increase efficiency and reduce costs, while at the same time offering a better customer service.

Reconciling these two goals, seemingly opposed, is possible thanks to a greater use of technology. Specifically, chatbots are called to play a key role. In this post we want to talk about the role of chatbots in the financial industry, and what challenges this technology will have to overcome to become mainstream.

This post is also available in Spanish.

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Topics: Fintech

IEB publishes global ranking of competitors in the financial sector

Posted by media on July 14, 2016 at 9:00 AM

Spanish Institute of Stock Market Studies IEB - an affiliate of Complutense University and sponsored by the Madrid Stock Exchange - has recently published its third Annual Ranking of Competitors in the Financial Sector.

The list, compiled by IEB’s Research Department under Rodrigo Garcia de la Cruz, Director of Innovation and Financial Technology, aims to "identify, study and assess the threat of each of the fifteen biggest financial competitors in the sector" worldwide.

In this post we have summarized the report with an overview of the exciting new developments taking place within the finance industry.

This post is also available in Spanish.

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Topics: Fintech

Digital simplicity: the surest route to improving customer experience in retail banking

Posted by media on June 21, 2016 at 9:00 AM

If one word stands out in the sixth annual Global Retail Banking 2016 report by the Boston Consulting Group (BCG), it’s “simplify.” In order to remain competitive amidst changes taking place in the financial sector, retail banking has no choice but to achieve digital simplicity.

The concept of digital simplicity set out by BCS in the report consists of two variables: on the one hand, simplifying operations using digital and analytical capabilities. On the other, improving customer experience, providing efficient, fast and quality service.

It could be said that customer experience is the Achilles heel of financial institutions. The scale determining the quality of an online shopping experience has been the making of companies like Apple or Amazon. However, traditional banking still faces internal obstacles that prevent it from enjoying the same levels of success.

What must retail banking do in order to reach digital simplicity and improve customer experience?

This post is also available in Spanish.

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Topics: Fintech

Signaturit to participate in ALPHA at MoneyConf

Posted by media on June 14, 2016 at 9:00 AM

On June 21 and 22, the second edition of MoneyConf will take place in Madrid to explore the latest in financial technology, brought to you by Web Summit. Influential media outlets such as The Guardian and the Wall Street Journal have already lauded the event as “defining the fintech ecosystem” and bringing together “the giants of the web” respectively.

The first MoneyConf took place in Belfast last year, and brought together 1,200 individuals from 50 countries. The second edition looks to welcome over 1,500 attendees, with a lineup of first-class speakers and exhibitors combined with the participation of traditional financial services companies and top fintech startups that are literally reinventing the sector.

VISA, Santander and BBVA will share the floor and insights with Kabbage, Kreditech, TransferWise and iZettle. Signaturit will also be participating in this technology event that aims to redefine the frontiers of the financial sector.

This post is also available in Spanish.

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Topics: Fintech, Events

How Wanna uses electronic signatures to offer mobile-based personal loans

Posted by media on February 24, 2016 at 6:00 AM

Wanna was established just under a year ago and is already a benchmark in mobile-based personal loans. The company’s target audience is mostly consumers and freelancers, the former of whom can contract a low-interest loan of up to 5,000 and the latter, up to 10,000. And all this simply by using a smartphone.

In this post we explain how Signaturit’s advanced electronic solution has helped Wanna develop its subscription process in less than 6 months as well as offer one of the most unique loan contracting services on the market today.

This post is also available in Spanish.

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Topics: Client Stories, Fintech