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BankBuddy Blogs

BankBuddy NLU Benchmarking

The field of Conversational AI has witnessed significant advancements, with Natural Language Understanding (NLU) playing a pivotal role in enabling machines to comprehend and respond to human language. As part of our commitment to delivering cutting-edge NLU...Read more

Future of QR Payments in South East Asia

The use of QR codes as a payment method is becoming more widespread globally. In developing nations, mobile money providers are at the forefront of implementing QR codes as a digital payment channel. QR code payment users will exceed 2.2...Read more

The Future is Now: An In-Depth Look at Digital Wallets 3.0

"Demand for “anytime, anywhere” payments - digital wallets, NFC payments, and QR payments is growing worldwide due to smartphones, the Internet, and personalized experience." “Today, consumers have already moved from basic mobile money prim...Read more

Future of Cashless Payments in South East Asia

Southeast Asia has seen a rising demand for cashless payments in the form of card/account-linked QR payments, standalone digital wallets, or embedded wallets in SuperApps. Various factors have fueled this growth of digital payment including growth in...Read more

Practical Guide to Implement Metaverse Banking

With the advent of Web3, Metaverse has the potential to revolutionize the banking industry. The term "metaverse finance" (MetaFi) refers to a combination of traditional finance (TradFi), decentralized finance (Defi), and centralized finance (CeFi), with new products...Read more

Conversational Surveys

4.70 billion people worldwide use social media platforms, and many of these users interact with Virtual assistants/chatbots regularly. The user interactions are dynamic in nature, with significantly diverse customer journeys and inbuilt human handoff; this...Read more

WhatsApp for Debt collection

Nearly half of all consumer complaints that affect a bank's rating are about debt collection. Debt collection is a tedious process with several regulatory and legal implications. It necessitates verification of the defaulter, the reason for non-payment, when the client may pay, and other factors....Read more

TOP 5 Digital Customer Onboarding Trends 2022

Deloitte research reveals that at least 38% of clients dropout during the onboarding process, frequently out of annoyance with the sheer volume of touchpoints and paperwork involved. According to the findings of a new global client onboarding...Read more

Banking operating model in the metaverse

The rise of Web3 has been observable worldwide since 2021 and seems unstoppable. NFTs have transformed the art market, and cryptocurrencies have provided the framework for the entire emerging and thriving economy. According to a Gartner report, 25%...Read more

What's in store for WhatsApp banking in 2022 and beyond

Whatsapp banking is now mainstream, and 30% of banks in EMEA and Asia are offering their customers the convenience of an AI-powered Whatsapp banking chatbot. Let's look at the evolution of WhatsApp banking over the past few years - The first-gen...Read more

Will Smart AI-powered digital wallets replace Super-Apps?

Super Apps are built on the premise of cross-sell and upsell potential to existing customers of a daily use app example: a taxi app. So, the super apps originally started as a utility function and added a digital wallet to fund the purchase of ecosystem....Read more

How QR codes are shaping the future of Digital Payments

According to a new Juniper Research study, global spending on QR code payments will exceed $3 trillion by 2025, up from $2.4 trillion in 2022. This 25% increase will be driven by a greater emphasis on Juniper Research study improving financial inclusion in...Read more

Top 3 use cases of blockchain in embedded finance

Businesses and corporations are demanding more from banks as they struggle to obtain real-time banking services. As a result, they are looking for a partner who can help them simplify the complexities of running and growing a business while also providing the...Read more

Central Bank Digital Currency (CBDC)

According to the survey conducted by the Bank for International Settlements (BIS), nine out of ten central banks around the world are analyzing the working of CBDCs. The concept of CBDCs first surfaced decades ago, but in recent years, discussions on CBDCs have intensified among central banks...Read more

Use cases of Blockchain

The rising interest in the blockchain has created increased use cases across multiple sectors. Blockchain technology is expected to drastically alter the banking, financial services, and insurance (BFSI) industry. According to the Global Blockchain survey conducted by Deloitte, 81 percent of...Read more

Blockchain in Banking

Blockchain technology has received a lot of attention in the last decade for different reasons. However, the question remains unanswered- "Will blockchain revolutionize the banking industry?" Undoubtedly, "blockchain" is one of the year's most popular technical buzzwords. While there is still a lot of...Read more

Digital Wallet + Artificial Intelligence

Digital wallets have revolutionized financial services by allowing users to make transactions in an easy, effortless manner. The democratization of payments has catalyzed financial inclusion by bringing unbanked populations into the formal banking system, which has enabled them to access a...Read more

Invoice to pay for SME customers

Worldwide, SMEs produce about $850 billion of annual revenue for banks, through deposits, lending, overdrafts, and payments. That is about 20 percent of all banking revenues.¹ The global market is expected to grow by around 7 percent annually over the next seven years. As per a...Read more

The Canny Co partners with BankBuddy for its CannyPay solution

Financial Technology platforms BankBuddy.ai and Canny form strategic partnership to offer fully Digital Request/Invoice to Pay with embedded payments. FinTech platforms Canny have partnered with BankBuddy to launch CannyPay, an...Read more

New account opening on WhatsApp

58% of banks state complexity as the major factor that pulled them away from offering multichannel onboarding to their customers. With over 2 million active users worldwide, WhatsApp has become one of the most effective and convenient channels of customer interaction. Offering...Read more

Composite AI for Frictionless Digital customer on-boarding

Digital onboarding has gained massive uptake in the banking and financial sector, with over 31% of new accounts opened through a bank website or mobile app as of 2020. To keep up with this shift in customer behavior a vast majority of banks simply cloned their...Read more

Why BankBuddy is the most secure WhatsApp banking platform

Today’s highly digital-enabled population has already embraced messaging apps like WhatsApp and messenger as digital banking channels. However, the security and compliance requirements for a continuous scrolling interface...Read more

Automated agent handoff for banking customer support

Shifting from contact centers to customer care platforms and implementing the intelligent routing of customer requests between digital and assisted channels can yield a profitability boost of up to 15% for retail banks...Read more

International Organization for Standardization (ISO) Certification

Team Affinsys is proud to announce that we have been accredited with ISO/IEC 27001:2013 certification. It is the latest milestone in our Information security roadmap, making us one of the select few AI platforms...Read more

What does a secure WhatsApp banking customer journey look like?

WhatsApp banking is replacing erstwhile USSD based mobile banking and Mobile apps due to additional security and convenience. Here’s a comprehensive list of security features we implemented at our partner banks...Read more

A Definitive Guide To Composite AI in Banking

The global artificial intelligence (AI) in Banking is expected to reach USD 130 Billion by 2027, and register a CAGR of 42.9% during the forecast period, according to the latest analysis by Emergen Research...Read more

AI based voice banking for customer engagement

Customer engagement is one of the biggest challenges facing the financial industry today. Most banking professionals agree that “optimizing the customer experience” is the most crucial element to remain successful in...Read more