Just a few years ago, cross-border payments were inefficient at best and filled with friction at worst. They were opaque and took days to settle. Additionally, managing foreign exchange costs was fraught with peril for executives looking to tap into new markets or expand their supply chains. However, a broad range of providers have entered the space, with digital solutions on offer from FinTechs and banks, helping client firms manage the challenges and rewards of global trade. One of those is FNBO, a subsidiary of 167-year-old First National of Nebraska

Today’s businesses are drowning in opportunity. More than 2.5 quintillion bytes of data are produced each day, and in the 21st century digital economy, this data has evolved from a byproduct of business operations to one of the most valuable assets for organizations. As companies grapple with fierce competition and changing market dynamics, the ability to effectively monetize data can be a game-changer. Yet, achieving financial impact from data monetization frequently requires more than just collecting and analyzing data — it can demand robust data value management and comprehensive data life-cycle measurement. At its core, successful data monetization revolves around three key pillars: Executive-level data leadership, data value realization and data resource life-cycle measurement. Together, these elements create a culture that prioritizes data as a strategic asset and ensures its financial impact resonates across the organization

Generative artificial intelligence (GenAI) has been among the buzzwords that are universal — cutting across all aspects of everyday life and promising to upend and reshape all manner of industries. Cory Mann, vice president of product at FNBO, told PYMNTS that GenAI is already having an impact in financial services, helping banks help clients gain insight into spending patterns and predict future cash flows. But to truly leverage GenAI, he said, banks must take stock of the data that’s available to them, with an eye on not just how GenAI can bring innovation to client-facing interactions but can improve the very operations of the financial institution itself. Mann’s comments and insights, offered up as part of the “What’s Next in Payments: Memo to GenAI Companies” series, detailed how FNBO, with roots stretching back to the 1850s, has been using the technology to craft new offerings and services to its 6 million customers spread across eight states