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Momentum is building for compliance digitalization

It’s finally happening. Banks that so far have shown only a tepid interest in embedding technology into their compliance processes are rapidly warming up to its very real benefits.KPMG reckons that by the end of 2020, regtech — meaning, compliance technology — will make up more than a third of all compliance spending. And it may not Read More

By |2020-05-27T18:16:24-05:00March 3rd, 2020|Comments Off on Momentum is building for compliance digitalization

Gen Z is already charting its own financial services path

Each new generation determines its own unique way to bank. No sooner do financial services organizations figure out the kind of banking experience Millennials want than Gen Z comes along with its own ideas about privacy, making payments, saving money, moving money or investing it. In time, they’ll be calling the shots. Recent BAI Banking Outlook consumer Read More

By |2020-10-14T07:13:01-05:00February 28th, 2020|Comments Off on Gen Z is already charting its own financial services path

Getting people on board for a successful digital transformation

With financial institutions of all sizes undergoing digital transformation, a vast array of new technologies are being designed to cut costs, increase convenience and deepen customer relationships. As they roll out new technologies, however, many FIs are realizing the challenge of getting customers to change their ways.A top-down digital culture is necessary to drive transformation at a Read More

By |2020-05-27T18:16:24-05:00February 27th, 2020|Comments Off on Getting people on board for a successful digital transformation

Successful change starts with employee involvement

Welcome to another decade, banking. Efficiency needs to top our lists of resolutions: Meaning, institutions must become efficient enough to not only survive a rapidly changing landscape, but also thrive as competition ramps up from both technology companies focused on banking and tech players once relegated to social media and e-mail. This industry “faces a new combination Read More

By |2020-05-27T18:16:24-05:00February 26th, 2020|Comments Off on Successful change starts with employee involvement

The future of payments starts with integration

A shift is under way in how banks and other corporations adopt and apply new technologies. For the payments industry, ease of integration has become a primary focus and serves as both a driver and limiter of innovation.We surveyed roughly 160 treasury and banking executives in 2019 on payment trends and found that nearly two-thirds of them Read More

By |2020-05-27T18:16:24-05:00February 25th, 2020|Comments Off on The future of payments starts with integration

Driving enterprise performance and operational excellence

Digital transformation doesn’t sit still. It’s helpful to think of it not as an end point, but rather a continuous evolution, driven by operational efficiency needs and evolving customer expectations. In order to remain stable and sustain growth, financial institutions must equip themselves with ecosystems that will support changes we can’t even imagine yet — not only Read More

By |2020-07-29T09:33:18-05:00February 24th, 2020|Comments Off on Driving enterprise performance and operational excellence

How customer experience benefits from operational efficiency

As the banking industry faces tighter margins and increasing competition for customers, many financial executives find themselves looking to cost reductions and department downsizing to better their bottom lines.Yet, those who take a balanced approach and identify the right operational efficiency initiatives may find that what’s good for profit margins may also improve the customer experience. Automation, Read More

By |2020-05-27T18:16:24-05:00February 20th, 2020|Comments Off on How customer experience benefits from operational efficiency

Insights from the future: BAI Emerging Leaders Network

In the final installment of our series on the BAI Emerging Leaders Network, we’re proud to present the personal reflections from nine more outstanding young professionals you’ll surely hear about in the years to come.Here, they share the experiences that have defined them, the long-term opportunities they see for the industry and the reasons why taking a Read More

By |2020-05-27T18:16:24-05:00February 20th, 2020|Comments Off on Insights from the future: BAI Emerging Leaders Network

Banks need to shift their mindset to fight synthetic ID fraud

Economic growth is making credit more widely available for consumers to purchase cars and homes, as well as to invest in their future. It is also providing fraudsters a broader opportunity to implement innovative schemes, such as synthetic identity fraud.With an eye toward acquiring young borrowers with limited credit histories, yet potential for significant lifetime value to Read More

By |2020-05-27T18:16:24-05:00February 18th, 2020|Comments Off on Banks need to shift their mindset to fight synthetic ID fraud

Insights and inspiration from the BAI Emerging Leaders Network

In the third installment of our series on the BAI Emerging Leaders Network, we’re back with eight more profiles of standout young leaders who are already making a difference in the financial services industry.Read on to learn who inspires them, how they aim to make an impact on the industry, and what they see as the biggest Read More

By |2020-05-27T18:16:25-05:00February 13th, 2020|Comments Off on Insights and inspiration from the BAI Emerging Leaders Network

The right tools for the finance job

Faced with thinning margins, increasingly complex regulations and consumer demands for digital channels, today’s financial institutions find themselves under more pressure than ever to use their time and resources as efficiently as they can. Behind the scenes, the finance department bears much of the responsibility for meeting evolving industry requirements: developing a strategic vision for revenue-generating products, Read More

By |2020-05-27T18:16:25-05:00February 12th, 2020|Comments Off on The right tools for the finance job

Fighting fraud with operational efficiency

Inefficiencies such as a bank’s disjointed data systems, manual processing of authentication for new account openings or outdated payment processes don’t just cause headaches for employees and customers alike — they also play directly into the hands of fraudsters. Although these kinds of operational inefficiencies don't rise to a level as egregious as leaving the vault unlocked, Read More

By |2020-05-27T18:16:25-05:00February 10th, 2020|Comments Off on Fighting fraud with operational efficiency

How savvy lenders are targeting small businesses for easy growth

Financial institutions have long been wary about lending to small companies – the conventional thinking is that the risks tend to outweigh the profits. Over the last few years, however, the small-business community and fintech upstarts have begun to form relationships that have helped lead some lenders to reassess the market’s potential.One example worth noting involves Farm Read More

By |2020-05-27T18:16:25-05:00February 10th, 2020|Comments Off on How savvy lenders are targeting small businesses for easy growth

Defeating latency is at the heart of the AI, fraud and data challenges at banks

There are many examples in modern business where low latency is critical, but perhaps none of them more so than in banking and financial services. For this industry, the speed with which networks relay communications and execute transactions is directly proportional to profitability. Because time is money, the difference between milliseconds and microseconds can mean the difference Read More

By |2020-05-27T18:16:25-05:00February 5th, 2020|Comments Off on Defeating latency is at the heart of the AI, fraud and data challenges at banks

Taming data is key to the sales strategy at banks

The words “sales data strategy” can seem overwhelming to even the most seasoned sales executives. The right sales data strategy can provide sales leaders, managers, and salespeople with insights to make more informed decisions and drive better results.A sales data strategy is a documented plan that provides a structured framework for sales organizations to effectively manage and Read More

By |2020-05-27T18:16:25-05:00February 4th, 2020|Comments Off on Taming data is key to the sales strategy at banks

A look forward for payments and acquiring banks

This will be a transformational year for acquiring banks that are focused on improving the value they offer to merchants while protecting consumers’ privacy. As the evolution of payments technologies continues, mergers and acquisitions are going to create new opportunities to improve payment solutions and value-added services.Acquiring banks, also known as merchant acquirers, allow businesses to accept Read More

By |2020-08-12T22:42:18-05:00February 3rd, 2020|Comments Off on A look forward for payments and acquiring banks

Making finance content stand out for millennials, Gen Z

The financial industry is being reinvented as mobile-first generations grow in buying power. Physical branches sit empty as customers flock to digital solutions. Almost everything customers want to do can be done online — and millennials and Gen Z prefer it that way. All of this creates trouble for marketers in financial services companies. How can they update Read More

By |2020-10-26T10:46:33-05:00January 30th, 2020|Comments Off on Making finance content stand out for millennials, Gen Z

Climb well spent: Getting to the top of the mobile wallet

We’ve heard the hype about mobile wallets for almost a decade. And heard it. And heard it. And yet ... the road to adoption has been slow. Passenger-pigeon slow. Tin-can-and-string slow. Ugly-beige-rotary-phone slow. The stats tell the story. The Bain/Research Now Retail Banking NPS Survey 2018 found less than one in ten Americans reported using Apple Pay Read More

By |2020-05-27T18:16:25-05:00January 29th, 2020|Comments Off on Climb well spent: Getting to the top of the mobile wallet

It is time to take control of your exception pricing

The pricing of banking products has gotten more interesting over the last few years, thanks to competitive pressure from fintechs and neobanks, rising customer expectations, greater regulatory scrutiny and a changing interest rate environment. Banks and lenders are now using several different levers to become more customer-centric in pricing their products.Base pricing offered to different segments is Read More

By |2020-05-27T18:16:25-05:00January 28th, 2020|Comments Off on It is time to take control of your exception pricing