From Legacy Core to Digital Bank: Paths Forward

Thursday 13 December   15:00 GMT

Financial institutions are racing towards the digital future, working to transform their operations in response to increasing competition, expanding markets, and diversifying customer segments. Watch the latest Finovate webinar to hear from an expert panel on unchaining yourself from legacy systems.

Whether aiming for more share of wallet or targeting the underbanked and unbanked, growth opportunities are there if banks can find the right combination of channels, technology, and solutions.

To reach this future, institutions must invest in new technologies that boost their ability to scale operations and serve customers more efficiently. While large, well-capitalized banks have paths to progressively renovate their legacy systems and build new digital layers, smaller community and regional banks have found it more challenging and risky to pursue significant transformation efforts. Experts from CeleritiFinTech, a leading innovator in global banking and payments systems, and DXC Technology discussed:

  • Key challenges around core modernization for mid-tier community and regional banks
  • Five potential modernization paths financial institutions can pursue
  • New cloud-enabled and as-a-service models banks should consider

Featuring: 

  • Thomas Demchak, Banking and Capital Markets Technologist, DXC Technology
  • Terry Rupp, Chief Technology Officer, CeleritiFinTech
  • Scott Lorenz, Head of Global Core Banking Strategy and Product, CeleritiFinTech

Webinar: Turning Identity Verification Into a Competitive Advantage

The digital lending and finance sector has grown dramatically in the last few years but traditional banks still dominate lending and the financial services space, while digital-first challengers and fintechs are still facing an uphill battle to capture customers and take advantage of the opportunity the digital transformation has provided.

Customers are taking notice of these newcomers though, and efficient onboarding using digitized workflows, such as digital identity verification technology, are being used by both new entrants and incumbents to boost competitiveness in an era where many consumers are increasingly shifting from being digital-first to digital-only.

Watch this Finovate webinar to learn from leading experts in the digital space who will delve into how digital lenders, fintechs, and even incumbents can leverage digital to ward off inefficiency, drive the best possible customer experience, and enhance the speed and cost-effectiveness of the onboarding process.

Our experts will be covering topics including:

  • The landscape for digital lenders in Europe: Explore the rapidly-expanding digital landscape and what digital lenders are competing with incumbents.
  • The need for increased security: See methods for mitigating fraud and risk posed by financial transactions in the online world where face-to-face or traditional ways of verification aren’t possible.
  • Seamless user experience: Learn how leading companies are leveraging digital ID verification to bring on more customers, more quickly.
  • Cutting compliance costs while boosting efficiency: See how, in a supposedly digital world, mandatory KYC and AML checks are still all too often a largely manual process. Digital processes have the potential to help to reduce KYC and AML compliance costs by up to 70% – and could improve the speed of these checks by up to 80%.

Featuring:

Lex Sokolin
Global Director Fintech Strategy, Partner
Autonomous Research

Sokolin is a futurist and entrepreneur focused on the next generation of financial services. He directs Fintech Strategy at Autonomous Research, a global research firm for the financial sector, helping clients understand and leverage innovation. Covered themes include roboadvice, blockchain and cryptoeconomy, artificial intelligence, chatbots, neobanks, and banks-as-a-platform, insurtech, and regtech.

Joe Bloemendaal
VP of Identity, EMEA
Mitek

Bloemendaal has long been actively involved in online identity and risk management, with 15+ years of experience in entrepreneurship, international sales and marketing in the field of internet technology, and SAAS. In his career, Bloemendaal has successfully founded and managed two businesses which still exist to this day. As VP of Identity for EU for Mitek, Bloemendaal is responsible for setting the strategy and continually driving growth for Mitek in digital identity verification across Europe.

Webinar: What’s next for top-tier banks and financial messaging?

WIFT remains a mission critical channel for all financial institutions. But the cost and complexity of operating SWIFT for top-tier banks has increased substantially since the introduction of SWIFT’s CSP programme. As payments and connectivity become increasingly commoditised for all financial institutions, banks are re-thinking how best to maintain secure, reliable and compliant SWIFT operations and back-office applications at the lowest cost.

To respond to our customers’ needs, equensWorldline has launched a new fully managed service to meet the needs of tier-1 banks that can no longer afford to invest in ageing infrastructure or meet increasingly stringent regulations and market practices.

Now, for the first time, outsourcing of SWIFT and other financial messaging channels is a realistic and attractive option for tier-1 banks that previously operated their SWIFT infrastructures in-house.

Commerzbank AG, a top SWIFT user, recognised the benefits and adopted the Next Generation Financial Messaging service from Worldline, an Atos Group Company. The service uses the BOX Messaging Hub from Intercope.

The webinar will give an overview of the:

  • Fundamental changes to SWIFT operations impacting Tier-1 banks
  • Changes to the regulatory environment including SWIFT’s CSP programme
  • The key financial benefits of  using this managed service
  • Key benefits of a modern and high performance platform
  • Flexible customization to customer needs
  • Ease of integration to back-end applications

Featuring:

Julius Pietowicz, Head of the SWIFT Service Centre, equensWorldline

Olaf Badstuebner, Global Director Financial Services, Atos Group

Daragh Kirby, Sales Director, INTERCOPE

Webinar: 5 Surprising Ways to Reduce Abandonment During Online Identity Verification

 

Increasingly, financial services companies and retail banks are going digital — not necessarily by choice — but as a result of new competitive threats that include new challenger (digital) banks, upstart fintech companies, and even the likes of Amazon and Google. Going digital and giving your customers the ability to open new accounts online lets you cast a wider net and attract more customers across a bigger geography. In fact, some studies suggest that this option translates into 55% more people applying for new accounts.

But, this opportunity is being squandered.

Recent research carried out by digital identity specialist Signicat suggests that retail banks now lose as many as 52% of potential customers at the on-boarding stage, an increase of 35% in the last two years. Much of the abandonment occurs during the identity verification process. It’s not all that surprising that so many online account applications are being abandoned when the enrollment process is time-consuming, complicated, and taxing. In this webinar, you’ll discover some clever tips and tricks and best practices from Jumio, the global leader in online identity verification, including:

  • The importance of offering multiple channels for ID capture
  • The subtle art of messaging & its impact on conversions
  • The critical need to reduce the number of screens
  • Why you need a “yes” or a “no” verification decision….and not a “maybe”

 

Moderator: David Penn
Research Analyst
Finovate

More than 15 years experience as a writer, blogger, and journalist covering financial markets and technology. Formerly Editor-in-Chief of TradingMarkets.com, staff writer for Technical Analysis of Stocks & Commodities magazine, and blogger for Linux Journal, I am currently a research analyst with The Finovate Group.

Dean Nicolls
Vice President
Jumio

Dean Nicolls is Jumio’s most recent addition to the executive team. He has 25+ years’ experience in B2B marketing focusing on cloud services. These include roles at Starbucks, Microsoft and variety of early stage cloud-based security companies including LiveOffice (acquired by Symantec), TeleSign (acquired by BICS) and, most recently, Infrascale. At Jumio, Dean is responsible for all branding, PR/analyst relations, product messaging, demand generation, and sales/channel enablement. He holds a Bachelor of Science degree in Business Administration from Pepperdine University and an MBA from the University of Washington.

Webinar – Solving the Digital Dilemma: How To Have a Relationship With a Customer You Never Met

Brands spend a lot of time, effort, and money ensuring that first impressions are strong- strong enough to encourage customers to buy. Acquiring new customers is important to any business, but how do you make a good impression on someone you’ve never met?

During this webinar, we addressed the importance of building a relationship with current and potential customers and the importance of creating a self-service offering, all while helping your organization deliver an exceptional customer experience (CX).

Dan Latimore, Senior Vice President with Celent, discussed key elements to build a customer relationship both in the branch and digitally and why the use of digital is essential to delivering an exceptional CX today. He discussed three key areas:

  1. How customers are actually interacting with their banks today
  2. How banks are approaching their digital initiatives
  3. What banks can do better – across channels – to attract new customers and deepen new and existing relationships

Andrew Stevens, Banking & Financial Services Specialist with Quadient concluded the webinar with practical lessons on how to ensure your customer feels they are a part of the banking relationship in the face of using digital channels.

GDPR & Online Identity Proofing: An Inconvenient Truth

Coming into effect on May 25th, GDPR represents a significant sea change in terms of data privacy and data protection and designed to harmonize data privacy laws across Europe, to protect and empower all EU citizens data privacy and to reshape the way organizations across the region approach data privacy. This webinar provides actionable guidance on how to determine if your selected data processors are, in fact, fully compliant, how processes have been vetted and guiding you to ask the right questions in order to provide you a little peace of mind. Hearfrom Jumio, Fintrail and leading banks discuss the challenges – and opportunities – of GDPR within the digital identity sector.