Payment Industry Blog

The financial industry has undergone a pretty radical transformation in the last decade, with mobile banking becoming a primary interface between banks and their customers. As highlighted by recent research from Branch, the mobile app industry has been seeing significant growth during the past several years and this trend extends to the financial sector.

Have you ever been in a meeting or conference, nodding along as industry experts toss around terms and abbreviations that sound like a foreign language? It can feel overwhelming, especially in the financial world, where terms and slang evolves fast.

Banks have good reasons to encourage customers to use their mobile apps more often. First, it helps them make more money by offering products and services directly in the app. Second, it improves the customer experience - for example, by showing clearer payment information - and helps the bank work more efficiently.

Merchant Category Codes (MCCs), initially designed as a universal standard for categorising transactions, have long been the baseline for transaction classification in banking. However, their limitations have created challenges that resonate across banking operations, customer experience, and sustainability initiatives.

This gathering of experts and professionals not only provided a valuable opportunity for us to learn about the latest trends and developments within the industry but most importantly, our Head of Partnerships, Simon Koci, had a chance to host and moderate a panel discussion on the topic of Cooperation Between Banks and Fintechs.

User experience (UX) today goes beyond a nice-looking interface or a conveniently usable application; it is about making data actionable, intuitive, and applicable in whatever interaction is made by the user.

For any digital banking platform to work well, transaction data needs to go beyond a simple list of payments. After all, if you can’t do the most important thing right, the rest doesn’t really make sense. Modern customers expect their financial institutions to provide clear, contextual, and visually engaging transaction details that make understanding their finances simple. Let’s explore the crucial data points and features that shape top-tier transaction details in digital banking and transform raw data into meaningful financial insights.

Today, I had the pleasure of sitting down with Mariia Lukash, Revolut’s Head of Growth for CEE - a true powerhouse in fintech with over six years of experience in digital strategy and growth. After an impressive five years at Google, where she managed portfolios for major global fintech clients, she now leads Revolut's expansion across the region.

With technology slowly progressing, data is starting to be at the heart of every transaction, decision, and strategy within banking. Whether it’s recommending financial products to users or automating decision-making processes, banks rely on data to understand their customers and provide a seamless experience. But what happens when the data is inaccurate?

Digital banking has advanced considerably, but like in any other industry, many myths and misconceptions are floating around. These often cloud understanding and limit the adoption of new technologies and ways to level up digital banking.

Our data team leader Adam highlighted 6 reasons to work at Dateio. There is no easy one-size-fits-all solution to our problem. It's not about being given a clear brief and having a process to get there.

Maintaining customer loyalty has always been and should always be a key priority for financial institutions. With many banks offering similar services and rates, it is imperative to differentiate yourself by creating a unique and satisfying experience tailored to your customers.

Today, the financial world is all about mobile-first convenience. Opening a new account has never been easier. Yet, while an efficient account-opening process gets your foot in the door, it doesn't guarantee a meaningful and, most importantly, long-lasting relationship. The real challenge lies in ensuring that new customers don’t just open an account and fade into inactivity but instead evolve into loyal, profitable clients.

Digital banking is more than just keeping up with technology—it's about understanding what customers need and delivering real value. Michal Plzák, Head of Digital Banking at Raiffeisenbank Czech Republic, has been doing just that for over 20 years.

Personal Finance Management is designed to help consumers track their spending, set budgets, and achieve their financial goals, but in the past years, it has become much more than that. Digital banks like bunq or Tomorrow are starting to offer additional features to help customers see how their spending affects the environment around them. We are talking about checking your carbon footprint with a breakdown of spending categories, savings pockets or category restrictions for better control of your finances.

I’m Ondřej Machač, a FinTech enthusiast with a passion for pushing the boundaries of financial technology. I currently manage over 15 bank accounts across the EU, constantly testing them to stay on top of the latest trends in banking and fintech. I regularly share my insights in Fintree, the largest FinTech magazine in the Czech Republic, which I founded. Additionally, I work at Roger, one of the largest Czech fintech companies, which closely collaborates with banks.

User experience (UX) in digital banking isn't merely about good aesthetics. It's deeply rooted in science and psychology, governed by established laws that guide user interactions and decision-making. Here are 11 key UX laws, explained with examples relevant to digital banking applications.

Today, convenience and instant access to information is what makes or breaks the service. Banking has transitioned from paper statements and bank tellers to seamless digital experiences. A bank's primary touchpoint with its customers is through transaction detail – a very core of financial transparency and personal finance management. But what makes transaction details insightful and why do they matter so much?