The Return of the Financial Advisor: Giving More than PFM

Topics: Customer Service
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Personal Financial Management (PFM) Systems have been fairly widely deployed, but only a few banks have surpassed 10% adoption. Some institutions have the most desired features incorporated into their online banking platforms, like aggregating information from other banks and providing a high-level dashboard. Perhaps what we … Continue reading →

Does your bank own its customers?

Topics: Customer Acquisition and Retention, Customer Experience
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The Internet has changed the way we shop, pay our bills, communicate, and so much more. Its impact on the supply chain is undeniable. The mobile movement is changing the game again. There is a battle to own the customer interface and financial institutions understand what … Continue reading →

Overcoming the challenges of the digital revolution

Topics: Trends
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At the 2015 Digital Banking Summit, Zoot will bring together executives from USAA, SunTrust, and U.S. Bank to discuss how they have successfully implemented their digital platforms. During this interactive pre-conference workshop, bankers will share best practices for overcoming the challenges of the digital revolution, including:… Continue reading →

Evolution of Identity Fraud

Topics: Credit Risk Management, Fraud, Risk Decisions
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Financial institutions (FIs) have been battling identity fraud for decades. According to Javelin Strategy & Research, $16 billion were stolen from 12.7 million identity fraud victims in 2014 alone. Fraudsters are constantly developing new, sophisticated ways to carry out their crimes. Therefore, combating fraud can be … Continue reading →

Using Customer Pain Points to Drive Bank Innovation

Topics: Customer Experience, Customer Service, Technology
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Mobile is rolling out faster than anything ever has in the financial industry. This is due to necessity (consumer demand) and an understanding that there is a great deal of competition from the digital disruptors. Banks aren’t taking this movement lying down. They are learning to … Continue reading →

Identity Verification in a Digital Age: The Implications for Banking

Topics: Trends
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A fascinating conversation I had with a millennial at ID360, an identity conference sponsored by the University of Texas Center for Identity, has me wondering about the future of identity and the future of our nation. The question that jump-started the debate is whether consumers should … Continue reading →

Regulation + Culture = An Asset or Liability?

Topics: Regulations
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Regulation has been perceived in the financial industry as a punitive measure meant to prevent bad behavior. Right or wrong that perception needs to change. This begins with changing the role of regulators—from a role that focuses less on signing paperwork to one that helps banks … Continue reading →

Forget Big Data, Little Data is the Big Deal

Topics: Customer Experience, Customer Service, Trends
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Big data is a nebulous topic. There has been much hype about the subject over the past several years. While it is a difficult task for financial institutions to tackle, there are ways to find success. Not boiling the ocean is a good place to start. … Continue reading →

Are the days of passwords coming to an end?

Topics: Fraud, Technology
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Forgotten passwords are an all too common customer experience. The typical scenario is to make a few guesses, hope you don’t get locked out of your account, and eventually end up resetting your password only to forget it the next time you need it. And if … Continue reading →