Keyword Tag CloudAlternative Data Analytic Models Automation Branch Banking Cost Reduction Credit Card Credit Card Regulations Credit Risk Policy Cross-sell Customer Friction Customer Intimacy Customer Service 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
Jack Welch, famous CEO from General Electric once said, “If the rate of change on the outside exceeds the rate of change on the inside, then the end is near.”
Many banks today are facing an unprecedented challenge just like this. Often, internal processes designed to protect the institution; to slam the brakes on new … Continue reading →
As we enter the new year, financial industry observers are making their predictions for 2015. Many of these predictions involve new ways for financial institutions (FIs) to engage customers and drive revenue—improving digital channels, delivering more personalized experiences, or using data to better understand customer needs.
These are important initiatives, but they only represent half … Continue reading →
During 2014 the financial industry saw more customers being issued EMV cards, mobile banking being adopted across all generations, and banks practicing innovation—whether they partnered with a Fintech company or invested in their own product development. It has been an exciting year and we look forward to seeing what 2015 brings to our industry.
From … Continue reading →
For the first time in many years, the New Year’s prognostications seem to offer a glimmer of hope for banking. After years of struggling to survive the economy and enhanced regulatory tactics, I hear bankers now discussing how they can thrive in our new economy. There are many detailed predictions proffered by numerous industry experts, … Continue reading →
At a recent financial industry conference one of the presenters commented that he’s always surprised when people say that the purpose of a business is to make money. While making a profit is necessary, he encouraged the audience to think about their higher purpose—doctors heal patients, architects design structures, bankers provide financial well-being. His point … Continue reading →
Innovation. It is one of the most overused words in the English language. How many times have you been to a financial industry conference and heard that banks need to be more innovative? The typical bank response is that it is too difficult because of compliance requirements, legacy technology or budget constraints or we’re just … Continue reading →
Empowering consumers to have trust and confidence in online interactions is an emerging challenge. They want the convenience this channel offers and an easy, secure manner to prove their real identity. How can this be accomplished? James Varga, CEO, miiCard, shares his expertise in the realm of secure online identities and what miiCard is doing … Continue reading →
Our industry is very familiar with the terms unbanked and underbanked, but there is another group that deserves our attention—the unhappily banked. Surprisingly, research by Viacom paints a grim picture that the largest generation of consumers in American history do not think current banking products meet their needs. The same study reveals that the vast … Continue reading →
During the 2014 Banking Analytics Symposium I moderated a panel titled Analytics in a Mobile-First World featuring Jackie Buonassisi, vice president, internet and mobile channel group, U.S. Bank, and Larry McClanahan, vice president, digital delivery, Fifth Third Bank. These bankers provided insight to one of the hottest topics in our industry right now; mobile. There … Continue reading →
Financial institutions (FIs) are keenly aware that customer interactions through self-service channels such as ATMs, online, and mobile cost less than person-to-person interactions in the branch or call center. Applying analytic models gives FIs insight to consumer behavior and what drives them to a particular channel. The outcome is the ability to provide a better … Continue reading →