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In the age of digital banking, misinformation can spread like wildfire, particularly when it relates to people’s finances. A key example is the “Dance of the Hillary”, a well-known internet hoax that has been circulating periodically on social media for several years, claiming that a video by the same name contains a dangerous virus. A
As consumer banking habits evolve, financial services institutions are rethinking the traditional branch model. The number of bank branches has dropped a lot in recent years, with nearly 2,000 bank branches having closed in the UK alone. The shuttering of branches is mostly because of reduced footfall and increasing digital banking usage. Changing consumer expectations
Digital transformation and innovation in technology have had a strong impact on the supply of banking services to customers and the bank-to-customer relationship. Banks need to prepare themselves for unprecedented challenges by adapting their strategies, to keep pace with new technologies and maintain a competitive edge in the long term. Auriga is committed to research
As the financial technology landscape continues to evolve, it is crucial for financial education to keep pace. Effective financial education and literacy empowers individuals to make informed decisions, which drives economic stability and financial inclusion. Significant barriers exist to achieving strong financial literacy. These include the digital divide, social and economic factors, and a general
In the search for differentiation in an increasingly competitive financial landscape data analysis is a critical tool. Aware of this need, Auriga has launched the new WWS INSIGHT module, designed to transform how banks and independent ATM deployers understand how their self-service banking channels (ATM and ASST) and other services being used by customers are
The integration of artificial intelligence (AI) in the banking sector has ushered in a transformative era, revolutionising financial services and redefining customer experiences. As AI applications process vast amounts of data with unprecedented efficiency, they are reshaping the financial landscape and offering innovative solutions that optimise operational processes and enhance security measures. AI-Powered Operations in
More people in the UK are paying with cash to help them manage their budgets. With Nationwide recently reporting that cash usage had increased for a third year in a row, it is a sharp reversion of the trend towards the cashless society predicted during the pandemic when people preferred contactless payments. Banks must make
With the momentous changes, we saw in the banking space in 2024, we expect that 2025 will continue with this trend. The year is expected to drive access to cash efforts that were laid out in 2024, see banks leveraging customer data in a smarter way and develop more robust cyber security strategies. The regulatory
With the start of the new year, Auriga wants to provide its perspective on the main trends that will mark the banking sector in 2025 and outline the future challenges for banking institutions and strategies on how to address them. In particular: Banking Hubs and FCA oversight Cash Management Crunch Neo banks moving into the
Shared banking infrastructure of ATM networks or banking hubs is a business model that we support and make possible with our digital self-service and ATM as-a-Service solutions. This model could help banks who must ensure physical access to cash and banking services even as customer preferences move towards cashless payments and operational costs rise. Major
