In the banking sector, the concept of “open” can seem contradictory. Banks traditionally have a “duty of care” to protect their assets rigorously, as required by regulators and customers. Yet today banks are faced with increasingly complex requirements.The blending of the financial and technology sectors has created a world in which banks protect our assets, but they are also asked to constantly innovate, create new customer channels or services, and maintain compliance across a changing regulatory landscape. To keep pace and remain competitive, banks must take another page from the technology world and embrace open architectures. + Also on Network World: Financial services firm adopts agile for digital development +
APIs are a mainstay of today’s technology and start-up culture, and they are a primary mechanism for building open architectures and platforms. From Yahoo to Facebook, Google, Amazon and more, industry vanguards and emerging companies alike have allowed third parties to access and build upon their codes and platforms via APIs. While giving peers and, in some cases, competitors “access to the house” might seem counterintuitive, the results are remarkable—continuous, rapid innovation, continued product development, and an open ecosystem of knowledge sharing.To read this article in full Continue reading
In the banking sector, the concept of “open” can seem contradictory. Banks traditionally have a “duty of care” to protect their assets rigorously, as required by regulators and customers. Yet today banks are faced with increasingly complex requirements.The blending of the financial and technology sectors has created a world in which banks protect our assets, but they are also asked to constantly innovate, create new customer channels or services, and maintain compliance across a changing regulatory landscape. To keep pace and remain competitive, banks must take another page from the technology world and embrace open architectures. + Also on Network World: Financial services firm adopts agile for digital development +
APIs are a mainstay of today’s technology and start-up culture, and they are a primary mechanism for building open architectures and platforms. From Yahoo to Facebook, Google, Amazon and more, industry vanguards and emerging companies alike have allowed third parties to access and build upon their codes and platforms via APIs. While giving peers and, in some cases, competitors “access to the house” might seem counterintuitive, the results are remarkable—continuous, rapid innovation, continued product development, and an open ecosystem of knowledge sharing.To read this article in full Continue reading
The relationship between humans and machines has captivated people for years—from robots that can win Jeopardy to those that can sense human emotions, the list is endless.Today, however, machines are no longer simply a novelty. The rise of analytics and artificial intelligence (AI) has become a key component of a business’ success. In the banking world, there are many examples to point to: self-service tellers, automated loan processing, payments, etc. But there’s one in particular that is fascinating—the robo-advisor.+ Also on Network World: AI as advisor, not magician +
Managing personal investments and wealth has traditionally been left to the experts—a team of wealth advisors and managers who met annually with clients. Robo-advising, the process of providing automated, algorithm-based portfolio management advice, is changing that.To read this article in full or to leave a comment, please click here
Rob Hetherington