For almost 10 years, term deposits have taken a back seat. In fact, there are people in their 20s and 30s who have probably never considered term deposits as a banking product. And with super low interest rates the norm, why would they?
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Topics: Digital Banking
Mobile Banking Apps – The good, the bad and the ugly
Posted by
Sandstone Technology on May 23, 2022 8:49:05 AM
Mobile banking apps have traditionally been viewed as a cost centre. But this undervalues their potential to be both a sales channel, and a cost-reduction channel. They can play a key role in the digitisation of many banking processes in a digital transformation program.
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Topics: Digital Banking
Mobile Banking Apps: Inhouse vs white labeling
Posted by
Sandstone Technology on May 11, 2022 9:20:22 AM
Today, most Tier 1 banks develop their mobile banking apps inhouse. For other financial institutions, the path is not so clear. Should they custom build inhouse, maintaining absolute control, or lean on the experience of an external vendor and their white-label solution?
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Topics: Digital Banking
Fintech digital transformation can be made much simpler if partners are willing to drive value in the direction of their customers. With more innovation taking place in the industry, the ability to meet the customers’ needs is what sets a company apart from the rest. As the world continues along its current trajectory towards digital payments and banking services, organisations like Sandstone Technology — with multiple technological capabilities — are encouraging the adoption of fintech among consumers and businesses.
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Topics: Digital Banking
Customers today have come to expect a level of personalisation while interacting with everyday brands. Technology companies like Amazon, Netflix, and Facebook have recognised the opportunity personalisation can offer organisations and have advanced their service offering through personalised experiences in order to meet constantly evolving customer expectations.
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Topics: Digital Banking, Financial Wellbeing
Mobile banking security: 5 serious challenges, and the 7 ways to address them
Posted by
Sandstone Technology on Nov 23, 2021 10:35:28 PM
Even before the events of 2020 pandemic, Australian and New Zealand consumers were embracing banking on the go. A RFI global digital banking study shows that 73% of consumers are using a mobile app to do their banking, with a significant increase of 12% over the past two years. The uptake of mobile banking apps has risen dramatically across all demographics, bringing with it new vulnerabilities.
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Topics: Digital Banking
APIs drive fast, front-end upgrades that minimise risk and power growth
Posted by
Sandstone Technology on Nov 4, 2021 8:33:27 AM
Sandstone Technology’s CEO Michael Phillipou helps explain how APIs make exciting fintech integrations possible with many core banking system, however monolithic and problematic they may be.
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How single customer view helps banks serve customers better and remain competitive
Posted by
Sandstone Technology on Oct 21, 2021 7:56:27 PM
At a time when it’s easier to switch than ever before, single customer view is a powerful retention and capture tool in the fight for market share, according to Sandstone Technology Chief Customer Office Ross Watts. There are two main battlegrounds for banks generally, says Watts. The first is achieving ‘main financial institution’ status with a customer, meaning that the bank holds the customer’s main transaction account. And the second is the home loan.
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Topics: Digital Banking, Featured Origination
Re-thinking the e-savings experience for retail and business customers
Posted by
Sandstone Technology on Aug 30, 2021 10:15:04 PM
As Britons continue to save more in the wake of COVID-19, and more savers do their banking digitally, building societies and banks must re-think how they service their e-savings accounts to increase share of wallet.
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Topics: Digital Banking, Featured Digital Banking
Banks feeling the pressure with big approval delays: how digital onboarding and banking automation can relieve the pressure
Posted by
Sandstone Technology on Jun 10, 2021 10:25:17 PM
In the first half of 2021, Australians have experienced a major bottleneck in loan application approvals. Lenders continue to struggle as a hot residential property market fuels consumer demand, and as businesses seek to finance a strong recovery post COVID.
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Topics: Digital Banking, Featured Origination