BFSI

When It Comes to Being Successful, Chicago Residents Value Family and Community

Bank OF America

10 Years After the Great Recession, Merrill Edge® Report Finds Chicago Residents Are More Focused on Making a Difference Than Having a Million Dollars in the Bank

Monday, December 4, 2017 9:00 am EST-- As the definition of success changes across the nation, Chicagoans are leading the charge in prioritizing family. In fact, 78 percent of residents say providing for family is most essential to their definition of success, compared to 73 percent of all Americans. Close relationships are also key to Chicagoans’ definition of success with almost one-third reporting a close-knit social circle contributes to their success.

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JPMorgan Chase & Co. Declares Increased Common Stock Dividend

JPMorgan Chase & Co. Declares Increased Common Stock Dividend | TTH

The Board of Directors of JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) today declared a quarterly dividend of 56 cents per share on the outstanding shares of the common stock of JPMorgan Chase, an increase from the prior quarterly dividend of 50 cents per share. The dividend is payable on October 31, 2017, to stockholders of record at the close of business on October 6, 2017.

JPMorgan Chase & Co.

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Technology Driving the Future of the BFSI Industry

Technology Driving the Future of the BFSI Industry | TTH

The Banking, Financial Services and Insurance industries remain highly competitive and are undoubtedly a saturated marketplace, but what are the most successful organisations delivering that its nearest competitors aren't?

The answer lies within the customer experience space. Driving a CX strategy that consistently delivers a memorable and engaging experience has become one of the biggest challenges facing these industries.

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Wells Fargo CEO to testify before Senate as questions linger over scandal

Wells Fargo CEO | TTH

Wells Fargo Chief Executive Tim Sloan is due to testify before Congress on Oct. 3 as the bank deals with fallout from a sales scandal a year ago that continues to spark new revelations.

Sloan will appear before the Senate Banking Committee, which writes rules for his industry, at a hearing titled “Wells Fargo: One Year Later,” the panel said on Thursday.

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In InnovateIN48 Coding Competition, FIS Teams Push Boundaries of AI in 2017

In InnovateIN48 Coding Competition, FIS Teams Push Boundaries of AI in 2017 | TTH

FIS™ (NYSE: FIS), a global leader in financial services technology, today announced the winner of 2017 InnovateIN48, an annual coding competition that challenges FIS teams from around the world to find innovative ways to apply emerging technology to solve real-world financial industry problems.

Three hundred teams from more than 20 countries took part in the 2017 competition,

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Wes Moore Joins Robin Hood as Chief Executive Officer

Robin Hood, the largest poverty-fighting organization in New York, announced today that Wes Moore, a nationally prominent social advocate, will become its Chief Executive Officer.

Moore, 38, is a social entrepreneur, decorated army combat veteran, and bestselling author. He spent much of his childhood in the Bronx. He is the author of The Other Wes Moore and The Work, instant New York Times and Wall Street Journal bestsellers that captured the nation’s attention on what draws the line between success and failure in our communities.

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Digital Innovation in the Banking Industry

A large number of fintech companies are now focused to engage customers through the use of digital technologies. Traditional banking companies and fintech start-ups have a difficult task at hand to satisfy the demands of a loyal customer base. Digital banking has the potential to change the financial industry by helping companies to deliver a highly personalized service experience.

Consider Venmo, the social payments app now owned by PayPal.

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Evolution of Core Banking Systems

The constant improvements in mobile and cloud technologies have put the fintech sector in a difficult spot. As the banking industry still lives in its legacy technology systems, a transition to banking modernization is fast becoming a challenge. Although many organizations are taking progressive steps to renew their old processes, customers’ demand for innovative solutions keeps on increasing.

In the coming years, much will depend on fintech leaders that need to respond with new operational strategies, and innovation at the speed of business.

In the face of these challenges, technology organizations are not only afraid of touching the core banking systems but are unable to see a clear path to modernizing the core systems without facing significant cost and risk. Reports suggest that today around 80% of business executives plan to perform assessments around core replacement, only 15% believe those plans will carry forward to an actual modernization initiative.

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