In the digital space, all organizations compete and are forced to adapt to new AI-assisted knowledge models. This implies a new era of co-pilots in different department areas, where digital processes will be reviewed and adapted to hybrid-assisted knowledge models based on Large Language Model systems. LLM Systems: Lights and Shadows The introduction […]
In recent years, we have witnessed a significant increase in cyberattacks. According to Cybersecurity Ventures, cybercrime is booming: by the end of 2023, it could have an impact of close to $8 trillion globally and the forecast for 2025 is $10.5 trillion. Social engineering techniques, in particular, have become more prevalent and sophisticated, with cybercriminals […]
In today’s competitive financial landscape, leveraging geolocation data has become a crucial component of a bank’s strategy to gain a competitive advantage. Customer location data offers new opportunities for banks to cooperate with retailers and improve customer loyalty and engagement with non-invasive personalized offers that are highly relevant to their needs. Geolocation Technology: Insights, […]
The United States, and Silicon Valley in particular, has long been recognized as a hub for innovation. For over six decades, the US has led by example, introducing revolutionary products such as credit cards, ATMs, and online banking. Therefore, it would be reasonable to expect the US to have a highly advanced and convenient real-time […]
Compliance is a significant burden and expense for financial institutions. However, with Latinia, banks can easily meet regulatory requirements, leverage the data collected through compliance processes as a valuable business tool, and turn it into an opportunity to gain a competitive advantage. Easing the Burden of Regulatory Compliance Regulatory compliance is a continuous challenge […]
Even if you have a lot of money in your account or a high credit limit, hearing that your card has been declined or blocked can be a reason for panic, especially when you’re traveling abroad and you can’t contact your bank to solve it. This very same experience happened to a LinkedIn user whose […]
Data silos hinder banks from creating tailored and meaningful experiences for their clients, since customer data is too often trapped in different platforms. Here’s how to avoid data silos and overcome fractured customer identities with Latinia. The Frankenstein Effect: Facing the Challenge of Bank Data Silos All banks have access to useful […]
Financial institutions have a significant impact on the financial lives of their cardholders, but this is a mutual relationship. Cardholders also possess the power to shape business practices and affect the types of products offered. It is crucial to consider both perspectives to leverage real-time revenue moments and untapped opportunities. How the Next Best […]
Today’s consumer is unpredictable and impossible to fit in a set of categories. Therefore, a linear customer journey no longer accurately reflects the dynamic nature of today’s banking consumers. Instead, financial institutions should focus on customer moments to provide value and assistance in real-time. Customer’s Life Happens Beyond Your Digital Channels Every customer is […]
Banking is personal and emotional. Major consumer surveys confirm that many banks and credit unions lose loyalty when they treat their customers as mere “accounts” rather than individuals with emotional needs. If a customer does not feel that their bank values their business or does not support them when they are in need, they may […]