Bankloch

In a few of my most recent blogs I tried to   demystify some of the buzzwords   (like blockchain, Low- and No-Code platforms, RPA…​), which are commonly used in the financial services industry. These buzzwords often entail interesting innovations, but contrary to their promise, they are not silver bullets solving any problem. Another such buzzword is   AI   (or also referred to as Machine Learning, Deep Learning, Enforced Learning…​ - the difference between those terms put aside). Again this term is also seriously hyped, creating unrealistic expectations, but contrary to many other buzzwords, this is something I truly believe will have a much larger impact on the financial services industry than many other buzzwords. This opinion is backed by a study of McKinsey and PWC indicating that 72% of company leaders consider that AI will be the most competitive advantage of the future and that this technology will be the most disruptive force in the decades to come. Deep Learning (= DL) is a s

In April of this year I published a blog claiming that we should reinvent the tooling for our digital agenda ( https://bankloch.blogspot.com/2020/04/your-digital-agenda-cornerstone-of-your.html ). After working months from home now, I am starting to see a lot of   gaps and issues   as well in the different   video conferencing tools   (like Zoom, Slack, Teams, Skype, WebEx, Google Meet, Jitsi…​) I use now on a daily basis. With these tools used so extensively worldwide and with so much competition on the market, it’s surprising that we are still facing so many issues with these tools. Clearly with home working and remote-first companies rising exponentially there is a   strong need for improvements   on those tools. To improve these tools, it’s good to first identify the issues we are all facing during our video calls: "We can’t hear you" or "I can’t hear you" : problems with microphones and loudspeakers are still too common. Good progress has already been made in s

Executing payments has evolved considerably   over the last years. While 25 years ago most payments were done by filling in a paper form, today almost all payments are   initiated digitally   via a web or mobile banking platform. Together with this digitalization came also a whole   eco-system of tools to further simplify these digital payments (not considering card payments), like: Invoices delivered directly to your banking app   (like ZoomIt in Belgium) Platforms   collecting invoices and providing a payment button   to avoid users having to reinput all cash transfer information (e.g. Doccle platform in Belgium) QR codes   appearing on paper and digital invoices, which can be scanned for immediate payment (e.g. POM or Payconiq in Belgium) Digitalization of Direct Debits , allowing much easier onboarding and management of Direct Debits (e.g. Twikey in Belgium). Uploading of   files with a bulk of payment instructions   (e.g. Isabel in Belgium) PSD2 Payment initiation   initiatives (c