Keyword Tag CloudAlternative Data Analytic Models Automation Branch Banking Cost Reduction Credit Card Credit Risk Policy Cross-sell Customer Friction Customer Intimacy Customer Service debit card Decisioning Demand Deposit Account Durbin Amendment Financial Crisis Fraud Generation Y Innovation Instant Prescreen IT Investment Lifestyle Banking Mobile Banking Online Banking Reputation Management Risk Management Security Transparency Trust Underbanked
It is imperative to have skilled people on the front lines. However, they can’t be effective without training, knowledge about the products they are selling and latitude to make decisions on the spot. People armed with the right information can make the difference between a so-so customer experience and a great one, while building a … Continue reading →
At the recent CBA Live conference in Washington D.C., the attendees were treated to a keynote session that featured five thought leaders making the case for five different forces that they believed would fundamentally disrupt banking—everything from Bitcoin to the rise of millennials.
This ‘Disruption Smackdown’ was interesting (and very entertaining), but it failed to … Continue reading →
In the past few months the already-hot payments industry has been put in an unfavorable spotlight. Because of the magnitude of the recent data breaches at several major retailers the payments industry has been forced to take a more serious look at updating antiquated card technology. The push for EMV is going full tilt, but … Continue reading →
The acquisition, aggregation, storage, and use of more consumer data is not a new trend in banking. We have been hearing terms like “big data” and “alternative data” for years. The basic premise underlying this trend is that there is more consumer data available than ever before and progressive financial institutions (FIs) can use this … Continue reading →
Today’s consumers are becoming increasingly dependent on their internet-connected devices for conducting all of their day-to-day activities, including banking. The ability to open new financial accounts—DDAs, credit cards, installment loans—online is therefore becoming a necessity to meet consumer demand.
It doesn’t make sense to ‘digital-natives’ like myself, who have never lived during a time without … Continue reading →
While choosing whether to incorporate new data types into their decision engines can be a vexing challenge for many financial institutions (FIs), building their strategy based on the new capabilities of this data is actually the more challenging step. In many cases, lenders have accepted the constraints of traditional data on their marketing efforts. With … Continue reading →
Card security and the need to better protect against fraud have gripped headlines since the Target breach. The ensuing aftermath of finger-pointing and lawsuits over who is responsible for the massive losses continues. The costs have run deep from card reissuance, to credit monitoring services and additional customer service staff to handle the sheer volume … Continue reading →
There is a city in the Peruvian Andes called La Rinconada. At 17,000 feet above sea level, it is the highest city in the world. La Rinconada’s economy is built around a large gold mine located in a nearby glacier, in which a significant portion of the city’s 50,000 citizens work. Every day those workers … Continue reading →
A couple of weeks ago, I posted a video blog that revealed the shifts in the way compliance is being managed—from decentralization to new developments in software. This article will take a more in depth look at those changes and the benefits of having flexible software that will allow institutions to adapt more easily to … Continue reading →
Even though it didn’t get much direct attention in our annual predictions post, omnichannel is a concept that got a lot of attention in 2013. In the middle of a rather contentious debate on branch banking and shifting consumer preferences, the concept of omnichannel—giving consumers a more consistent and seamless experience across every channel—was an … Continue reading →