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- Trends (42)
- Customer Acquisition and Retention (42)
- Customer Experience (41)
- Technology (33)
- Account Opening (29)
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Tag Archives: Online Banking
A Healthier View of Bank Channels
Topics: Customer Experience, Operational Efficiency, Trends
Tagged: Branch Banking, Customer Service, Mobile Banking, Online Banking
The debate over bank channels has reached an interesting place. Depending on whom you ask, branch banking is either a relic of a time gone by or an invaluable component of a successful retail banking strategy. The truth, as usual, is somewhere in between these extremes.
I recently heard a very healthy perspective on the… Continue reading →
Profitability vs. Transparency: The Future of DDAs
Topics: Account Opening
Tagged: Demand Deposit Account, Online Banking, Transparency
It is that time of year again for open enrollment in my company’s health insurance plan. As I sift through all the information about the new plan and forms to complete, I realize how much I hate dealing with insurance. I’m fortunate to work for a company that makes it as easy as possible and… Continue reading →
Is mobile a channel, a fad, or a disruptive force in banking?
Topics: Customer Acquisition and Retention, Customer Experience, Trends
Tagged: Branch Banking, Customer Service, Lifestyle Banking, Mobile Banking, Online Banking
I was asked an interesting question during an analyst call two weeks ago, “is mobile just media hype or will it actually take off?” I realized that the answer is far stranger than the analyst imagined. It seems lately like there is little new in banking, sure we blame that on new regulations, but we… Continue reading →
Three Questions Banks Need to Ask During the Online Account Opening Process
Topics: Account Opening, Credit Risk Management, Fraud
Tagged: Alternative Data, Analytic Models, Branch Banking, Fraud, Online Banking
The new frontier for account opening is online. Whether a consumer is reaching out to a bank through the web browser on their laptop or an app on their mobile phone, the trend is clear. Changing demographics, new consumer preferences, and the proliferation of internet-enabled devices are all driving an increase in online banking interactions… Continue reading →
The Impact of Self-Service on CSRs and the Customer Experience
Topics: Customer Acquisition and Retention, Customer Experience, Trends
Tagged: Branch Banking, Customer Service, Mobile Banking, Online Banking
One of the most significant paradigm shifts happening right now in the financial industry is the rapid growth of self-service channels (ATMs, online, and mobile). According to TowerGroup, a Corporate Executive Board company, the number of branch banking transactions is projected to decrease by almost 1 Billion over the next 2 years. Over that same… Continue reading →
Best Practices for Realtime Fraud Prevention in Online Account Origination
Topics: Account Opening, Credit Risk Management, Fraud
Tagged: FFIEC, Fraud, Online Banking
Last week I moderated a webinar with Zoot’s Tom Johnson and Alisdair Falkner from ThreatMetrix, one of our business development partners. It was an event full of great insight on preventing fraud in the online channel during account origination, logins, and transactions.
Realtime. Instant. Near-realtime. These terms might appear to be buzz words, but in… Continue reading →
Death of the Check?
Topics: Customer Experience, Trends
Tagged: Customer Service, Demand Deposit Account, Generation Y, Lifestyle Banking, Online Banking
We’ve been told for years that the check is nearly dead. As check clearing volume continues to plummet, this seems like a reasonable claim, yet we never seem to get there. For the mathematicians, it’s like an asymptote—no matter how long you wait, it will never actually reach zero.
A good friend of mine (in her… Continue reading →
The Mobile Way or the Highway?
Topics: Customer Experience, Technology, Trends
Tagged: Branch Banking, Lifestyle Banking, Mobile Banking, Online Banking, Remote Deposit Capture
Mobile banking has arrived. This seems to be the consensus reached by financial industry analysts looking into 2011. This year, more consumers will have access to mobile banking than ever before. As competition in the smartphone and tablet markets continue to increase, consumers who don’t own such devices will soon find themselves in the minority… Continue reading →
What if Apple Creates a Financial Lifestyle?
Topics: Customer Experience
Tagged: Apple, Lifestyle Banking, Online Banking, Remote Deposit Capture, Trust
While moderating a panel at the Card Forum show last month, an audience member from Bank of America asked me a fascinating question, “What are the implications of Apple’s recent patent filing for NCF mobile banking?” The common answer is that their filing deals primarily with P2P payments funded through a credit card, bank or… Continue reading →
The Thin Line between Customer Protection and Customer Friction
Topics: Customer Experience, Technology
Tagged: Customer Service, Online Banking, Security, Trust
While visiting annualcreditreport.com to obtain a copy of my credit report, I was reminded of the tightrope that financial institutions (FIs) are forced to walk: trying to protect customer data while limiting customer friction.
My personal drama was an identity verification question requiring me to identify an inquiry (company, month, and year) that would appear… Continue reading →