With a sharp focus on factors such as improved retention and market penetration, and entering new markets, strategic banks can make the most of the sales growth curve.
Successful mergers require banks to surmount the challenges of managing critical timelines, transitioning to a new corporate culture and designing a solid plan for the consolidation.
To prepare for new regulatory guidance on beneficial ownership, financial institutions should consider using third-party data to improve their identity screening procedures.
By uncovering a variety of important fraud patterns in real time, graph databases can be a useful tool for fraud prevention in financial services.
Banks face a competitive disadvantage if non-traditional innovators develop technology that creates a better customer experience that can’t be matched by their current vendors.
Although the deadline for complying with the revised Home Mortgage Disclosure Act (HMDA) is two years away, lenders would be well advised to focus on it now.
Financial institutions that cannot properly monitor or research customer transactions should consider closing the account to avoid regulatory issues.
Financial institutions need to make sure that their fraud detection technology and procedures keep pace with the customer demand for convenient online and mobile banking access.