Payments are essential to the success of marketplaces and platforms that connect buyers to sellers, where transactions are a critical component of customers’ satisfaction. Sellers seek fast and flexible payouts, while both sellers and buyers look for an integrated and seamless experience. With the increasing complexity of multi-party transactions on platforms, these expectations are difficult to meet.
Stripe commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying Stripe Connect, an offering that allows marketplaces and platforms to accept payments from and send payouts to third parties.
Forrester’s interviews with four existing Stripe clients and subsequent financial analysis found that an organization based on these interviewed organizations experienced benefits of $6.1 million over three years versus costs of $1.3 million, adding up to a net present value (NPV) of $4.
Digital commerce is enabling businesses to rethink what they sell, how they sell, and where they sell. Fickle consumer and business buyers have come to expect an intuitive and instantaneous checkout process with multiple payment options. However, aging financial infrastructure and complex interdependencies between numerous parties make it difficult and expensive to accept payments online seamlessly and across markets and currencies.
Stripe meets these challenges with an API-based payments platform that abstracts away the complexities around payment gateways, acquiring banks, and credit card networks. To understand the impact of Stripe’s products on processing online payments, IDC interviewed Stripe customers and surveyed hundreds of organizations around the world about how they currently process and manage online payments.
• Many organizations are using Stripe as a foundational platform for their online businesses, with many of those also using Stripe Connect to run thei
Security risks and breaches have become part of the daily landscape as companies and organizations of every size and in every vertical and industry announce that they have been compromised. In 2016 reported security breaches were up 40%, and this year is on pace to surpass that steep rise. Over the past year alone, there have been high-profile breaches in the gaming, financial services, hospitality, food service, consumer packaged goods, and retail sectors. Many of those breaches occurred due to vulnerabilities in applications and on websites. For example, this past April, the IRS announced a breach attributable to a tool designed to fetch data for the Free Application for Federal Student Aid (FAFSA) form.
In years past, device functionality was enough to sell most embedded products without much concern for cybersecurity. Of course there were exceptions, such as in critical infrastructure, aviation, and military, for which security was always of importance. But today’s environment has evolved on several fronts. First, organizations across nearly all markets are demanding Internet connectivity to monitor and control devices as well as to aggregate and analyze data. Second, the magnitude of security threats has exploded, driven by highly sophisticated hackers including organized criminal gangs seeking financial returns, creating a constantly evolving threat landscape. Third, the increasingly complex nature of connected systems makes them ever more challenging to protect. The more complex a system, the more potential vulnerabilities it may contain. And fourth, the data generated by connected devices represent an asset that is becoming increasingly valuable for organizations to derive insigh
Operational resilience is high on the regulatory agenda in the UK. A joint discussion paper in 2018 took a broader view of operational resilience to cover all risks to the provision of critical business services with a greater emphasis on recovery and response when incidents occur. Regulators now place the same importance on operational resilience as on financial resilience. This represents a fundamental shift that companies are at different stages of addressing. Based on discussions with clients and regulators here are ten conversations to help guide you through this new landscape.
Discover how to revolutionize processing performance, data intelligence, customer experiences, and GRC.
The future of financial services will belong to those who can capture and capitalize on data. And it all begins with employing modern data strategies in four critical areas.
You’ll learn how to:
Leverage AI, machine learning and predictive analytics.
Get scalable, high-speed access to vast amounts of data.
Respond faster, become more competitive, and attract new customers.
"Purchasers of enterprise storage have historically dealt with an upgrade cycle that was expensive, disruptive, inherently risky, and time-consuming and occurred roughly every three to five years. In 2015, Pure Storage challenged customer preconceptions about the enterprise storage upgrade cycle with the announcement of its Evergreen Storage. And Pure has continued to enhance Evergreen Storage over the years with new features that have increased its already extremely high customer experience performance.
This IDC white paper assesses the impact Evergreen Storage has had on the enterprise storage industry and discusses the technical, financial, and business implications of the program from a customer point of view."
It’s difficult to think of a force that’s having a more revolutionary impact on financial services than digitalization. It’s materially changing everything in this sector: the way processes work; the way services are offered; the customer experience; and the speed at which business is executed and where it happens.Digitalization is driving the innovation edge to exciting new horizons.
A guide to accelerating digitalization while inverting IT spend.
Published By: Gigamon
Published Date: Sep 03, 2019
Banking institutions worldwide are
expanding their digital capabilities to
meet evolving customer expectations
and keep pace with new digital
banking trends. As financial services
firms increasingly embrace a multicloud strategy to achieve greater
agility and cost savings, pervasive
visibility across data centres and
cloud environments is paramount
to meet evolving security and
After evaluating all the options on the market, one company chose Automation Anywhere RPA to start its digital transformation journey and automate its invoice processing, help desk, and internal financial reporting processes. The company achieved its initial goals—and more. It got the first initiative—automating accounts payable—up and running in less than 6 months, and increased the efficiency of the operation by 300%.
Bancolombia is an award winning, full-service financial institution that provides banking services to customers in 12 different countries and is one of the 10th largest financial groups in Latin-America.With bots from Automation Anywhere, Bancolombia sifts through structured, semi-structured, and unstructured customer data to transform their BPM. Bots automate hundreds of processes and greatly increasing back office efficiency, saving Bancolombia a significant amount of time servicing customers. This has led to an increase in CSAT numbers and has created additional revenue streams.
Connected Intelligence in Insurance
Insurance as we know it is transforming dramatically, thanks to capabilities brought about by new technologies such as machine learning and artificial intelligence (AI).
Download this IDC Analyst Infobrief to learn about how the new breed of insurers are becoming more personalized, more predictive, and more real-time than ever.
What you will learn:
The insurance industry's global digital trends, supported by data and analysis
What capabilities will make the insurers of the future become disruptors in their industry
Notable leaders based on IDC Financial Insights research and their respective use cases
Essential guidance from IDC
What if you could use just one platform to detect all types of major financial crimes?
One platform to handle the analytical tasks of fraud detection, including:
Data processing and aggregation
Statistical/mathematical/machine learning modeling
One platform that could successfully reduce complex and time-consuming fraud investigations by combining extremely different domains of knowledge including Business, Economics, Finance, and Law. A platform that can cover payments, credit card transactions, and know your customer (KYC) processes, as well as similar use cases like anti-money laundering (AML), trade surveillance, and crimes such as insurance claims fraud.
Learn more about TIBCO's comprehensive software capabilities behind tackling all these types of fraud in this in depth whitepaper.
FINANCIAL SERVICES’ HISTORY OF DISRUPTION
Financial Services is an industry driven by disruption. Transformative business models such as low-cost brokerages, innovative investment products like ETFs, and the huge regulatory mandates like Gramm-Leach-Bliley are but a few examples. Here are some others:
• New fintech firms such as a recent nine billion dollar investment in Ant Financial Services Group and myriad other venture capital-led fintech startups targeting well established segments across the financial services industry
• Robo-advisor services powered by artificial intelligence and machine learning intermediating financial advisors and portfolio managers alike
• Ever changing regulatory and risk management mandates, such as GDPR, Basel III, and Open Banking, transforming customer engagement and capital allocation
Read this whitepaper to learn how you can overcome these and other disruptions.
The biggest headache for most payment operations teams is cost control — and a large part of it comes from fraud management:
Investigation teams waste large amounts of time just assembling the data needed to make decisions.
Detection engines are always playing catchup with the latest fraud patterns.
Ever changing regulations increase the time and cost required to reach compliance and meet audit standards.
Given their scope and impact, replacing core fraud systems is not an option for most firms. But instead of replacing them, you can improve the investigative process with augmented investigation, and improve the detection process by enhancing current systems.
This whitepaper describes three ways financial services firms can use TIBCO solutions to lower the cost of investigations through faster results, reduce fraud losses through better detection, and simplify audit and regulatory compliance through centralized access to information.
First Citizens Bank & Trust Company is a chartered commercial bank offering a complete line of financial services. With over 200 point-to-point applications and disparate systems, the bank needed a way to reduce its applications portfolio and streamline integration among systems, including fast integration of systems from newly acquired banks. First Citizens turned to TIBCO ActiveMatrix BusinessWorks™ and TIBCO® Messaging for their simplicity and ability to quickly get IT processes up and running. With standard services, this transformation resulted in reduced deployment time—from eight months to 18 weeks, resulting in reduced credit card loan project time.
Fraud is one of the biggest overheads for most financial firms. Detecting crime is hard as fraud constantly evolves and the tools have to be able to evolve with it. Also one of the key areas of focus for most firms is to address the cost of handling the false positives that all automated systems generate.
Watch this short demonstration to learn how TIBCO’s advanced analytics and data science solutions can help you overcome these challenges.
Hear the highlights from industry leaders presented their experience in digital transformation at Reinventing Financial Services 2019. Hearing from executives leading IT, operations, and lines of business from companies such as USAA, Bank of America, HSBC, Prudential, and many others in this session, we’ll cover the strategies and tactics for building the platforms necessary for reinventing customer experience, empowering employees and creating te
Published By: iAdvize
Published Date: Jul 25, 2019
iAdvize commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study to examine the potential ROI enterprises may realize by deploying a conversational CX throughout their customer journey.
Read this study to learn how to evaluate the potential financial impact of a conversational CX on your organization through the quality and scalability of the conversations you can achieve.
For many insurers, this accounting process will look familiar:
• Tools and processes vary for different lines of business.
• The needed data is stored in hundreds of files.
• Calculations are performed by multiple, undocumented spreadsheets, with little or
no version control.
• Humans have to step in to help cobble together data from different channels.
• The process of preparing and presenting financial data is not manageable or traceable.
• The path from input data to P&L numbers is largely a black box.
In a simpler time, this patchwork was passable. But change is coming. New regulations
will bring greater complexity to the accounting process for insurers, which will make
semi-manual, legacy processes look like a house of cards and raise doubts about the
validity of the final numbers on the P&L sheet.
Os bancos em todo o mundo estão apostando muito em inteligência artificial e machine learning para lhes dar a vantagem tecnológica necessária para obter serviços bancários em tempo real, personalizados e preditivos. Um marco ajudará a diferenciar os primeiros ganhadores e fornecerá vantagens contínuas em inteligência.
Faça o download deste IDC Analyst Infobrief para saber como os melhores bancos do mundo estão se tornando mais pessoais, preditivos e mais em tempo real do que nunca.
O que você conhecerá:
• 8 tendências que refletem o nível de preparação do banco para a inteligência conectada
• 9 armadilhas para evitar e 9 maneiras de pular os obstáculos
• Os elementos básicos pessoais, preditivos e em tempo real da IA e ML para os bancos
• Líderes de destaque com base na pesquisa da IDC Financial Insights e em seus respectivos casos de uso
• Orientação essencial do IDC para os bancos líderes
Los bancos de todo el mundo están apostando fuertemente a la inteligencia artificial y el machine learning a fin de obtener la ventaja tecnológica que necesitan para ofrecer servicios bancarios más personalizados, predictivos y en tiempo real. Un marco ayudará a diferenciar a los primeros ganadores y ofrecerles ventajas continuas en inteligencia.
Descargue este IDC Analyst Infobrief que le permitirá conocer cómo los mejores bancos del mundo se están volviendo más personales, más predictivos, y más en tiempo real que nunca.
Lo que usted conocerá:
• Las ocho tendencias que reflejan el nivel de preparación de los bancos para la inteligencia conectada
• Los nueve obstáculos que evitar y las nueve formas de salvar las brechas
• Los elementos básicos personales, predictivos y de tiempo real de la IA y el ML para los bancos
• Los líderes destacados de acuerdo con la investigación de IDC Financial Insights y sus respectivos casos de uso
• Una guía esencial de IDC para los bancos líderes
Servicios Financieros es una industria en la que la innovación siempre está presente. Los modelos de negocio transformadores como las casas de bolsa de bajo costo, los productos de inversión innovadores como los fondos de inversión cotizados, y las regulaciones estrictas como Gramm-Leach-Bliley son algunos ejemplos. Otros ejemplos incluyen:
• Las nuevas firmas fintech, como la reciente inversión de nueve mil millones de dólares hecha en Ant Financial Services Group, y un sinnúmero de otras empresas emergentes similares apoyadas con capital de riesgo, están apuntando a segmentos bien establecidos de la industria de servicios financieros.
• Servicios de gestores automatizados potenciados por la inteligencia artificial y el machine learning que apoyan a los asesores financieros y a los gestores de carteras
• Las regulaciones y las leyes para el manejo de riesgos que cambian constantemente, como GDPR, Basilea III y Open Banking, y que transforman la manera en que se interactúa con los
We know that digital transformation is changing the economics of IT, but is this influencing CXO dynamics and strategic decision-making? To determine this, the Financial Times (FT) Focus partnered with Apptio to survey more than 550 C-suite leaders in technology and finance globally.
Download this FT Focus report to discover how to:
- Bridge the trust gap and ease tensions between the Office of the CIO and the CFO with accountability and real-time data
- Leverage digital transformation to foster greater collaboration and avoid creating blurred responsibilities across the C-suite
- Help leaders at global brands embrace AI, reskilling, cloud, Agile, and decentralized decision-making to move at hyperspeed and deliver value.
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