Onboarding solutions: the gateway to financial inclusion in Mexico
Digital onboarding is here to stay. Not only does it help reduce costs and increase conversion rates, it has also proven to be an effective tool for promoting financial massification in markets such as Mexico. Access to financial services made headway in Mexico...
The ABC of digital banking security solutions for 2023
In the era of digital banking, security has become a priority. As a consequence, authentication and access management solutions, whose purpose is to protect institutions and their clients, have proliferated. The key is to identify the essential components of a...
The potential of cloud computing to improve financial user experience
The potential of cloud computing to improve financial user experience Veritran and Huawei Cloud present the first business solutions hosted in the cloud to promote financial sector innovation and digitalization in Mexico, a country where 98% of users prefer to...
Small businesses are at the forefront of financial evolution
Small businesses are at the forefront of financial evolution This segment, which ranges from independent workers to small businesses, has historically been excluded from the formal financial system. The banks that are capable of designing customized solutions will be...
Digital onboarding: an essential tool for today
Digital onboarding: an essential tool for today Although it started out as a novelty, digital enrollment was soon positioned to be an essential solution in the context of the pandemic. Its proven benefits explain why it has become a key asset for the success of...
Web3: What is the new Internet paradigm that will reinvent the role of financial institutions?
This online phase has reframed the way create, share and monetize content, products and services. Embracing the possibilities it brings will allow companies to reinvent themselves and remain relevant WHAT ARE WE REFERRING TO WHEN WE TALK ABOUT WEB3? Web3 is the third...
Colombia’s open finance paves the way for user-centric financial ecosystems
In our podcast VNEXT (Remix), we talk to Ana María Tobar, CEO of ADL Lab at Grupo Aval in Colombia, about the progress of open finance in the country and the keys to building comprehensive, customer-centric financial ecosystems Financial institutions are undergoing a...
Zero-emissions banking: data as a tool to reduce carbon footprint
The financial industry is actively joining sustainable initiatives, spurred on by technology and data analytics to pursue a greener economy for the future Banks are paying increasing attention to climate change and, above all, to how to reduce their carbon footprint —...
Real time payments: a must-have offering for your digital wallet
A successful digital proposition is not complete without instant payments, either through the solutions made available by the central banks of each country or using international payment platforms. "How can payments be democratized?" It’s a recurring question in an...
The main challenges of digital onboarding and how to overcome them
Digital onboarding should be a customer-friendly process, but there are some challenges to overcome to ensure it meets the demand from users for it to be accurate, short and simple The customer experience starts from the moment they download the banking app. But...
How to manage credit portfolio risks with agile data management
The increase in the cost of global credit sets the scene for financial institutions to create risk models that are more exploratory, adaptive and responsive to changes in real time The current economic landscape requires banks to use their financial data appropriately...
Clave drives financial inclusion, from Argentina to the rest of the region
The fintech offers digital banking products to SMEs and individuals in Latin America and chose Argentina and Colombia as its starting points Despite significant progress, Latin America continues to be a region where financial services are not available to...
The growing importance of tokenization in digital payments | Veritran
Tokenization of payments is helping to streamline settlements, without neglecting security protocols. Here we explore what they offer and how they are developing Tokens are emerging as the leading technology for making money movements in a much safer, more flexible...
The future of bank branche | Veritran
The trend is clear: customers increasingly prefer virtual service, which is pushing banks to rethink the role of the physical branch As digital banking advances, some questions have remained unanswered. Like: What will happen to physical branches? What role will they...
ISO 20022 : The new common language | Veritran
This innovative payment messaging format promises to facilitate cross-border settlement by being agile and data-rich ISO 20022 is the new universal language model for cross-border payment messaging, created to facilitate the performance of financial institutions in...
The keys to excellent digital banking for businesses | Veritran
Payment processing is a pain point for business customers. By using technology to automate payroll, taxes or services, banks can help their SME clients Technology empowers banks to become the best allies of their business customers, providing them with digital...
How UX Fosters Brand Loyalty in Financial Services
By: Omar Arab, EVP Corporate Business at Veritran The pandemic has shifted the way consumers interact with brands. Users are taking a more digital approach to complete the simplest task, from buying groceries online to using an app to connect with a physician. This...
Community banks: a digital opportunity to get (closer) to users
Fundamental for the development of local economies due to their proximity to customers and the businesses that surround them, community banks need digital and mobile tools to better serve users. Community banks make up 99% of all entities in the United States. In one...
Invisible finance, the evolution of digital banking services
By turning invisible, banks become customer-centric and more focused on helping them make better decisions without interrupting their journey The main challenge for the industry is to make users’ financial lives easier. From easy payments to automatic savings, the...
Banking as a Service: promoting business models | Veritran
These concepts build connections between financial institutions and industries from retail to technology in order to reach the consumer at precisely the right time—the purchase The new financial era requires thinking outside the box to devise new ways of offering...
Superapps, the future of financial mobile applications
The integration of banking applications and wallets into multipurpose platforms with countless possibilities isn’t slowing down Superapps continue to gain ground and promise to revolutionize digital banking and financial mobile applications with offerings that combine...
Banking as a metaverse enabler | Veritran
Immersive finance will be pivotal in the development of this new virtual world, catalyzing payments and other transactions that will be fundamental in the digital economy Firstly, it’s important to understand that the metaverse is an immersive digital world, where...
Digital wallets: critical tools for improving personal finances
E-wallets are becoming the preferred payment method, but they can also be an instrument to enhance banks' digital offering by putting financial management tools at the user's fingertips Digital wallets are gaining ground when it comes to making payments and...
The digital Real, the Brazilian central bank’s | Veritran
The institution joins a global trend that seeks to simplify payment transactions Brazil is set to become one of the first South American countries to launch a sovereign digital currency, an instrument that’s expected to facilitate both local and cross-border...
Banking for young people: attracting the new generations with digital products
Meeting the demands of children and young people requires financial institutions to adapt quickly to their habits, networks and forms of communication. The Z and Alpha generations were born in a fully digital age; as a result, their interaction with financial...
Digital banking as a catalyst for narrowing the gender gap
It’s well known that women don’t have the same access to financial services as men. And sadly, the already considerable gender gap was only exacerbated by the pandemic. We’re facing a regression of more than a decade in terms of female economic participation. Even...
Chip shortage: an opportunity for virtual cards
Thanks to its convenience and security, digital plastic is emerging as the best alternative amid a lack of chips for physical cards. One of the consequences of the pandemic has been disruption to several global production chains, including chips or semiconductors,...
Digitalization for the elderly: another step towards financial inclusion
Technology capable of creating friendlier digital channels for senior citizens is within the reach of banks, but education campaigns are urgently needed to ensure a proper take-up Creating channels and products that are accessible to the entire population remains a...
Crypto loans: the future of banking?
Banks are experimenting with decentralized finance (DeFi) and stablecoin loans backed by assets such as cash or soybeans. Currently, decentralized finance or DeFi is an open space where users access banking services without the need for an intermediary institution....
Digital acquisition: the opportunity to massify payments at small retailers
Adoption of e-wallets continues to grow, but to connect the entire financial ecosystem it is necessary to move forward with digital payments for local businesses By Marcelo Fondacaro, Chief Commercial Officer, Veritran While the use of electronic wallets continues to...
Faster, easier: The keys to success of contactless payments
Also known as proximity payments, they stand out for their versatility, speed, and security—and adoption continues to grow Mobile proximity or contactless payments use a technology that allows payments to be made by placing a card, smartphone, or smartwatch near a...
4 key components for a successful digital onboarding
Digital onboarding is the client’s first experience with the company's products and therefore must be accurate, fast, and user-friendly In a world where virtual transactions are growing steadily and users are demanding simpler, more intuitive, and more efficient...
Offline Digital Payments: An Opportunity for Inclusion
Internet connectivity remains one of the biggest barriers to the roll-out of electronic transactions in rural areas, despite efforts to narrow the infrastructure gap The implementation of offline digital payments is a means to increase financial inclusion in rural...
The hyper-personalization of online banking
Efficient data handling and processing is an opportunity to offer users customized, flexible products An impending challenge for banks is to tailor their product offering to the needs of each customer, drawing on proper data analysis in order to identify the demands...
Neo-banks: 24/7 financial services
The growth of new players in the financial sector is a wake-up call for traditional banks, which need to adapt to the digital transformation process and avoid being left behind Neo-banks burst onto the financial scene by targeting a very specific audience: the Gen Z...
Buy now, pay later boom offers benefits for banks and users
Digital payment by installment gaining ground in U.S. and Latin American financial markets Among the new credit formats in digital finance, buy now, pay later (BNPL) has emerged as an accessible, attractive, and convenient solution that’s strategically available at...
How does artificial intelligence help enhance banking data?
AI is emerging as a tool for leveraging information in a competitive banking environment As the volume of data in the financial sector grows, underlying technologies are evolving at the same pace. Among them is artificial intelligence, which is increasing its capacity...
How banking is adapting to hybrid environments
The combination of public and private clouds brings not only business opportunities for banking but also new security challenges Hybrid environments, where data interaction between private and public clouds is secure, are becoming increasingly relevant, as the advance...
Digital banking as an ally for SMEs | Veritran
SMEs are the lifeblood of the global economy but still have an outstanding digital debt—one that they can overcome with the support of banks Small and medium-sized enterprises (SMEs) face many challenges, including digitalization to improve their processes and offer...
Self-service platforms: improving the financial user experience
Self-service digital solutions allow the user to resolve problems easily without calling customer service or visiting a branch A growing number of financial users prefer to use online platforms where they can have control over their transactions and find answers...
Green banking: why is it important?
With products such as green mortgages and loans for hybrid cars, the financial industry has joined the fight against climate change Given the seriousness of environmental challenges facing humanity, efforts aimed at combating the deterioration of the planet have...
Digital Wallets: Four Trends for 2022
Wallets will continue to evolve by incorporating new features to facilitate everything from credit to investment. After a period of strong adoption, e-wallets will take a step further in addressing consumer needs, by incorporating everything from invisible collection...
Biometric Payments: The Latest Advances for UX
The development of digital channels with Low-Code technology brings fast, efficient solutions closer to users. The difficulty of developing software to enhance digital channels in a short space of time has been left behind with the implementation of Low-Code...
Digital Lending: An Opportunity to Improve UX
Optimizing the onboarding process and analyzing alternative data allows personalized digital loans to be granted to more customers. Although the adoption of digital accounts has accelerated in the last two years, this hasn’t necessarily led to an increase in access to...
Low-Code Platforms: Five Factors Worth Remembering in 2022
The development of digital channels with Low-Code technology brings fast, efficient solutions closer to users. The difficulty of developing software to enhance digital channels in a short space of time has been left behind with the implementation of Low-Code...
Decentralized digital identity: the road to ID control
Decentralized identity allows banks to simplify the verification of users’ data while minimizing the risks. Historically, people’s identities have been analog, manifested in a piece of paper that attests to an individual's existence. But as we spend more time in...
What will cross-border payments look like in the future?
As banking migrates to more agile and open infrastructures, cross-border payments are becoming easier within a collaborative environment Although talk of digital banking is becoming increasingly common, the truth is that there are still services stuck in the past, and...
Cash Decline: Four Opportunities for the Financial Industry
Cash is still king, but digital payments are on the rise and are gaining ground. This forces banks to modernize and provide innovative, 100% digital solutions. By Marcelo Fondacaro, CCO at Veritran Cash continues to be the preferred method of payment for Latin...
Mortgage Digitalization
Due to their complexity, mortgages are the latest product to be digitalized, and the use of technologies can facilitate their migration. For years, mortgages have been a highly complex financial product with limited access, as they involve extensive contracts and...
Why should banks issue virtual cards? | Veritran
With the growth of online shopping, it’s necessary to improve the security of transactions and speed up purchases with a system that’s 100% digital The pandemic and the massification of new payment technologies have encouraged the transformation of traditional...
