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Tag: banking

How Fintech Makes Hong Kong the Gateway to Asia-Pacific

Artificial intelligence is taking the world by storm and Asia-Pacific has embraced it with a passion. The region boldly leads the charge as various tech-savvy governments heavily support this initiative and with China aiming to become the world leader in AI by 2030.  Asia is also poised to overtake the USA as the biggest hub of innovation centers for AI in the near future.  A key factor providing the impetus…

Mobile Is the Magic Word for Banks. Isn’t it?

Smartphones are smarting up the banking business. Nearly half of mobile users in the US use mobile banking, as stated bythe market research company eMarketer. And this large audience is only becoming broader by the day. If in 2017, the number of US mobile banking users stood at 108.5 million, last year it climbed to 115.6 million, which represents  49.2% of mobile users in the US and indicates a 6.6%…

Innovation vs. commoditization: understanding millennials in banking & financial services

My generation of 2.5 billion millennials around the world will soon have the collective capacity to generate $1.4 trillion of purchasing power by 2025. There are 92 million millennials in America today, the biggest generation in US history, even more than the Baby Boomers. It’s obvious why banks and financial service institutions are keeping a sharp eye on the millennial demographic. “One of the largest generations in history is about…

Putting business into customers’ pockets

If you want to see a bank customer wince, ask him to manually input some long numbers into your system. Yet in this digital transformation times, a large number of payments made by customers are still done by keying in data manually. The data that many businesses still require customers to provide range from account numbers, bank’s routing numbers, tax code numbers, tracking numbers to ID cards and passport numbers.…

Innovation developers choose ABBYY SDKs powered by Machine Learning & AI

Leading innovative software developers are working to incorporate advanced Optical Character Recognition (OCR) and data capture into their applications and solutions to tackle the problems of today’s global digital transformation disruption. Whether it’s mobile, cloud, on-site or in hybrid environments, ABBYY has always provided developers the proven toolsets necessary to accurately capture and extract critical information on-demand, from virtually anywhere in the world. Traditional ABBYY OCR technologies still play a…