Machine-learning is disrupting how companies manage credit default risks allowing medium banks and fintechs to produce robust prediction models obtaining supreme accuracy and speed. GuiaBolso, one of the main fintechs in Brazil, is leveraging its large customer information database with machine-learning to provide credit at more competitive rates than leading banks in Brazil.
Should banks implement blockchain technology for their cross-border payments business? Should they utilize the technology across all processes?
Despite having been transformed by technology over the past half-century, the banking industry is threatened by increased digitalization, particularly the rise of start-ups that utilize technological solutions to provide better services at lower costs. Nevertheless, most large banks are uniquely situated to take advantage of the opportunities posed by advanced technologies. Citi, in particular, has transformed both its operating and business models in exciting ways; by continuing to lead in the industry, it will ensure its role at the center of the global financial system for another 200 years.
Banks hide a lot. Especially their fees to transfer money overseas. Now there's a clever new way, with nothing to hide. Digitalization has enabled online (non clandestine fee) money transfer service TransferWise.
In some cities in Brazil, you don’t need to carry cash. Even street peddlers accept credit cards in Sao Paulo. It comes as no surprise, then, that there is a move to digital payments and banking happening in the […]
Banks are no strangers to change in the era of digital revolution, but have been slow to adapt in the past. This post provides a brief description of how a mid-sized Chilean bank is positioning itself for success in the next decade.
How a retail bank is adapting to the growing internet of things
Is it possible to get a new savings account in under 4 minutes without talking to a bank representative?
“Online bank Simple was set for failure since the very beginning, and it belongs to the worst kind of startup failures: those that don’t achieve their ambitious goals by any means, but also manage to mediocrely survive; like nightmares that never end.”