In attendance at Money20/20 USA, held in Las Vegas from October 22-25, FinTech Magazine speaks to Zur Yahalom, SVP & Head of Financial Services at Amdocs on how the company is tailoring its financial solutions to support Family-First Banking.
For our full interview with Yahalom, you can click on the video link above.
Amdocs: Family-First Banking
Speaking on the effectiveness and importance of Amdocs’ Family-First Banking concept, Yahalom says: “Many people operate within the context of a family.
“You could have young kids and you want to bring them into the financial world, start giving them the ability to experience banking, but also having the controls to manage what they do and make sure they don't make mistakes or overspend.
“It’s really critical to bring young people into the financial system because you want to give them that experience and education.
“On the other hand, you could have elderly parents that you need to be supporting, particularly if they’re not digitally savvy or financially fluent.
“So people operate in the context of a family, and we think that this is an area or a domain where a lot of banks are still lagging, particularly when it comes to giving customers the type of access and control they are looking for.”
Raising awareness of Amdocs
For Yahalom, the goal at Amdocs is to raise awareness of the company’s services, such as Family-First Banking, making banks and other financial institutions aware of the services it provides.
He notes: “Amdocs is a large company. We're publicly traded and generate many billions in revenue. We have a lot of experience and a lot of technological capabilities, but we're also a very well-kept secret within financial services.
“So one of our key objectives is just to make people aware of what we can do for them and how we can help them drive financial services forward, driving growth and success.”
Want to see more from Money20/20 USA? Stay tuned to FinTech Magazine as we roll out more content from the event over the coming days.
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