We’re now in a market, post-Covid, where digital expectations have been pushed to new heights. Digital customer acquisition strategies are more important than ever, but financial institutions (FIs) are still seeing too many application dropouts. 

If you’re still processing account applications manually, with no option for digital origination, you’re wasting the customer’s time. Today there is an expectation for digital banking at every step of the journey.

Brokers account for 70% of home loans according to recent data reported by the Mortgage & Finance Association of Australia. Like Financial Institutions (FIs), brokers have to contend with numerous obstacles in the application process. Adopting a solution that automates crucial parts of the process can be an efficiency win not just for the FI and its staff, but for brokers too.

The Building Societies Association (BSA) Annual Conference 2023 is a valuable opportunity to connect with people from all levels of the sector and is always a source of inspiration for those of us attending from Sandstone Technology. As an exhibitor, we had some compelling conversations with a large cross-section of financial services professionals from across the UK. 

After being swept up in a digital wave fed by the pandemic, customers now have an expectation of being able to do everything with a series of clicks. Whether it’s shopping, working or banking, they want the freedom to decide when and how; whether to attend a specific location in person, or stay home on their device of choice.

Integrating a new solution into your core banking system brings significant complexity and risk. A successful banking integration relies on both the customer and their technology partner having robust governance and the right team structures in place.

Banks will need to offer smoother onboarding if they wish to acquire those customers needing to refinance and anyone shopping for a better rate.

In 2023, cybercrime keeps generating news headlines, with villains inflicting trillions of dollars in damages globally every year. An ever-present threat to individuals and organisations, malicious cyber-attacks are increasing in number and sophistication.

After decades of stagnation, international payments have seen remarkable growth in recent years, arguably more than any other finance vertical. As our economic environment continues to fluctuate and customers demand improved experiences, we need to give cross-border payments our full attention.

With real-time monitoring, alerts and fail safes, Sandstone Technology’s tranche management feature is already taking worry and risk out of managing the lifecycle of deposit products.