The growing importance of tokenization in digital payments
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 branches: physical and digital for financial education
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 for global payments
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, from payroll to payments
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 between banks and their new allies
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
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 virtual currency, prepares for take off
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
Digital inclusion alone doesn’t achieve equity, but it can be a catalyst for achieving independence and social and economic empowerment for women It’s well known that women don’t have the same access to financial services as men. And sadly, the already considerable...
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
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?
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...
Chatbots and Voicebots: Options for digital banking solutions
Chatbots and voicebots improve the customer service experience by providing quick responses by voice or message around the clock Chatbots and voicebots are becoming increasingly relevant in an environment defined by interaction through smartphones and mobile...
How to take advantage of financial technology in rural communities
Technology plays a key role in security control and data generation for increasing financial inclusion in rural areas Financial technology, data and analytics are deconstructing banking products and services and making them more personalized and user-friendly. This...
The benefits of banks with virtual cards
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...
Four advantages of migrating core banking to the cloud
Storing core banking data in the cloud enables financial institutions to streamline their processes, improve efficiency and deliver a better user experience Cloud banking enables faster and more agile responses to banking users by storing and analyzing massive amounts...
How are banking habits changing?
New banking users prefer smartphone access to finance, instant payments, and alternative and digital credit. Technology and the widespread use of smartphones have transformed people’s relationship with banking. Now, speed, technology, and personalization are setting...
What to expect from Phase 3 of Open Banking in Brazil
The third phase will allow Pix users to make payments outside of their bank’s platform, making digital purchases easier. The transformation of payment methods and the discouragement of cash is the backdrop for the third phase of Open Banking in Brazil, now with a new...
Smart, predictive banking at the user’s service
The combination of data usage and analytics will enable banks to fine-tune their processes and customize their products to deliver tailored experiences. It’s a fact: consumer expectations aren’t the same as they used to be. From the speed at which groceries arrive...
Are “financial supermarkets” the future of banking?
As financial services become unbundled, banks need an integration strategy, according to Manolo Sanchez, former BBVA Compass board member. It isn’t uncommon today for users to move from one app to another to make payments, transfers or manage their investments. New...
The Future of Digital Wallets in Banking
Banks must take advantage of the opportunities offered by the open finance era to drive continuous improvement in digital wallets By Wagner Martin, Director of Business Development at Veritran Brasil Amid an unprecedented acceleration in the use of digital payment...
Geolocation: Why Does Your Bank App Need It?
Knowing where a digital banking user is can help contextualize the language used to communicate with them. It also improves security. In order to improve the personalization of financial products and services, the geolocation function in banking apps is emerging as a...
Why Your Bank Should Join the Embedded Finance Trend
Integrated finance represents an growth opportunity for banking, in addition to providing differentiating value to the customer experience The distribution of financial services is changing rapidly. Embedded finance is becoming an increasingly popular practice in the...
Being (and Thinking) Digitally Will Mark Road to Success for Banks
Financial institutions opting for digital native strategies will reach a point of inflexion, says Chris Skinner, a digital transformation expert The evolution of digital finance is a given for the banking industry but there is a hallmark distinguishing those who will...
