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The U.S. card industry’s move to EMV technology to combat fraud will likely accelerate because of recent data breaches, say BAI Payments Connect 2014 panelists.
To manage zero revenue transactions, banks need to do a better job of reducing the operational costs of those transactions.
To ensure that technology aligns with strategy, community banks should develop meaningful baseline statistics, conduct an honest appraisal of results and provide a forum for continuing discussion.
A visit to Chase and Umpqua branch-of-the future prototypes in San Francisco highlights two very different visions of the future of banking.
Once deposit rates start rising this year, the banking industry will incur relatively high interest expense due to the inelasticity of consumer deposits in a rising-rate environment.
Analytics and fine art share the characteristics of evolving over time and being visible, understandable, likable and relevant.
Banks today need to go beyond traditional cost-cutting methods with an integrated, cross-functional approach across end-to-end value chains.
Banks can elevate their budgeting and planning methodology with an approach known as collaborative cash flow margin planning.
Banks need to improve mobile content downloading speeds if they want to meet customer expectations in a digital world.
Real-time payments could be moving a step closer to reality under pressure from forces both inside and outside of the financial services industry, say BAI Payments Connect 2014 panelists.
For 2014, banks are committed to reducing expenses and operating more efficiently through better use of technology, improved hiring and training practices and right-sizing business units.
To spur their efforts at innovation, winners of the BAI-Finacle Global Banking Innovation Awards 2013 are learning to collaborate more within their own organizations.
Writer and BAI Retail Delivery 2013 speaker Malcolm Gladwell says that adversity can make you more successful – if you learn to turn your weaknesses into strengths.
… with EMV it would have been impossible for the fraudsters to generate counterfeit cards from the data that was stolen.
For analytics to have real impact they must be accessible to, and be seen by, the employees whose environment is being measured.
The demand exists; consumers want real-time payments.
Look, my goal is not to shift the work to outsourcers. My goal is not to have the work at all.
Decreasing this hidden handling cost is the key to managing zero revenue transactions ...
With no plans or control regarding pricing, banks cannot perform any form of scenario modeling.
… baseline statistics such as the number of workstations and mobile devices is the first step in the governance process.
As transactions continue to move out of branches, the purpose of having a branch shifts to becoming a sales center …
If you are going to achieve real business coming from mobile, give it the attention you would a branch …
Some technologies will be game-changers and others may fizzle out but there’s no way to know which is which in advance.
… healthcare providers as a group write off on average half of their receivables coming from patients.
… Apple could conceivably take over the digital wallet market in one fell swoop.
… in order to maintain or increase balances, banks will have to increase rates at a greater pace than the increase in balances.
… the average bank owns 2.1 financial products out of the approximately seven owned per-household.
You can’t hack what you can’t see.
Leaders must support the day-to-day change and encourage it.