How can banks support customers through the cost of living crisis

In this video Steve looks at the impact of rising interest rates and how banks can utilise data to help their customers. Despite a wealth of data being available within most banks running on legacy tech, that data is locked away in product silos, preventing banks from building a comprehensive picture of the customer’s financial position. With financial vulnerability becoming more widespread, hitting even those who would once have been considered financially comfortable, how can a nextgen core banking platform enable banks to help customers manage their money? By creating wallets for specific purposes within a single account, customers can easily plan for everything from day to day expenses through to mortgages, educational planning and the big events in life such as weddings.