My uncle recently told me that when he was 7, he went to his local bank and opened his first savings account. To track his account balance, a teller named Marjorie gave him a little notebook called a passbook. Every time he went in to make a deposit or a withdraw money, he would wait until Marjorie was available. He would hand over the passbook to Marjorie and she would stamp the transaction and his new account balance in the

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In a recent blog, we discussed how Blockchain works and what it means for the future of the Banking Industry. Blockchain has emerged as an exciting new development across the retail industry, in this blog we explore how the Blockchain can improve your processes, gain trust from customers and ensure health and safety regulations are met. How does blockchain work? Blockchain is a digital record of data and transactions chronologically linked. Using distribution ledger technology, all data is available to

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Unless you keep your cash stashed under the bed, it’s inevitable you’ve experienced how technology has impacted the way we interact with our finances and the institutions that take care of them. From contactless payments to peer-to-peer powered loans, technology is transforming and enabling dramatic shifts in the industry. But while it’s widely accepted by banks that tech can help improve their offering, few people believe it will replace humans entirely. It’s about finding the fine

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Salesforce has coined the current era as ‘The Age of the Customer’, where everyone and everything is connected. In banking, this transformation means that technology will play an increasingly significant role in, the way customers interact with their bank. But will the introduction of the bots, machine learning, and AI mean a better quality of customer service? Or do people still want the human touch? Among the benefits, machines are more accurate than human beings; they don’t get tired

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Did you hear that Blockchain is coming? Wait, what exactly is Blockchain? Is it related to Bitcoin? Blockchain is a disruptive technology that will fundamentally change banking as well as many other industries. Bitcoin is an electronic currency that uses blockchain to transfer funds from one party to another. Let’s examine what is blockchain, why it will increase in popularity, what it means for the banking industry and explain bitcoin. What is blockchain? Blockchain is a technology that uses

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Banks are struggling to maintain respect with customers. With many transactional services now easily accessible online and via apps, customers are rarely stepping foot in branch. When they do they are met with walls lined with self-service machines, or a long queue which concludes in a meeting shrouded with bureaucracy, and so many identification checks they won’t fit into your lunch hour, which coincidently is the only convenient time the banks are open. The bank is in danger of

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Introducing the new Retail Banking Services Index Today, BookingBug releases the first ever research into how the top 10 retail banks are creating a more competitive customer experience, and whether they are keeping up with the rest of the high street. In a landscape transformed by clever omnichannel strategies and added value services, banks have received relatively little scrutiny compared to their retail siblings. Last year, our Retail Services Index found more retailers than ever offering defined in-store services to

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