News

Banking through physical branches could phase out by 2025, a new survey has revealed, as the pandemic-era push to online holds its momentum. Nearly 70 per cent of European banks, surveyed by the Economist Intelligence Unit (EIU) and Temenos, said that brick and mortar banks will be dead and gone in just three years.

The use of Artificial Intelligence in the financial services sector has grown exponentially in the last decade. Banks are now implementing the technology across a range of innovative use-cases. A new survey of IT executives in banking, conducted by The Economist Intelligence Unit in partnership with Temenos, finds that 85 per cent have a “clear strategy” for adopting AI to develop new products and services.

The asset management industry as we know it has changed forever, and for the last two years, the industry has faced a time of unprecedented demands that will ultimately produce new winners and losers.

The UK Government announced a review into Buy Now, Pay Later (BNPL) that will ran into January. Two of the main issues being considered by the review are how providers assess creditworthiness; and the need to provide clear information to consumers about the risks involved.

2022 looks promising for the wealth management industry. Alexandre Duret, product director, wealth, Temenos, writes on the most significant changes set to shift the private banking sector.

With digital engagement becoming a focus of both financial institutions and consumers alike, what is the future of bank branches? Will mass closures occur to reduce operating costs or will the functionality of branch offices be rethought to humanize digital delivery? A new study provides some clarity.