AI is a cutting-edge technology that has been transforming the way we work for decades. The inclusion of AI core technology in financial institutions not only affects the nature of the work processes but also increases competition within the financial...

We are living in an era where digitalization is taking place in every industry sector. With respect to banks, some are rapidly adapting to the digital age, while a few financial institutions are progressing at a slower pace. There are...

The Automatic Clearing House (ACH) is a computerized payment processing network that securely transfers funds between bank accounts using bank routing numbers. The transfers are generally composed of payment batches, often lower value payments, involving both debits and credits. The...

The age of digitalization has made it convenient for users to make payments as they prefer. Gone soon are those days when consumers have no choice as to the rails directing their payments and even in some instances having to...

Mobile wallets, also known as virtual wallets, are on the rise. A mobile wallet is a virtual wallet capable of storing payment information including credit cards, debit cards, airplane tickets, and loyalty cards all on a mobile device such as...

Post-pandemic effects took a toll on merger and acquisitions in the banking industry throughout most of 2020 with many discussions put on hold. Management was initially concerned about potential credit quality issues, which gave way to dealing with loan modifications...