USAA’s award-winning banking innovation flies above the rest—literally. The San Antonio, Texas-based financial institution is a co-winner for Innovation in Societal and Community Impact in this year’s BAI Global Innovation Awards, announced in a special webinar last week. USAA took home honors for its Aerial Imagery Tool, which allows members to remotely search and view damage to Read More
In an age of FinTech challengers and big data challenges, it's now a given that banks can no longer stand still. Yet how they can respond creatively remains a puzzle many financial services organizations have struggled to solve. So when banks across the globe devise and implement practical solutions to perplexing problems, it results in templates that Read More
Debt collection marks one of those challenging areas for financial services organizations, and here’s why: The high-tech advancements that have bolstered other areas of banking, such as chatbots and mobile deposit capture, haven’t always made the impact this specific niche needs. And that adds up to a pain point, not just for the banks but also for Read More
The banking industry is in the midst of another good run. Most financial institutions have once again turned profitable, as evidenced by the most recent FDIC quarterly summary: It indicates that in the third quarter of 2016, community banks—which represent 92 percent of insured institutions—reported net income of $5.6 billion. That’s up $592.6 million (or 11.8 percent) Read More
Although most U.S. banks offer some type of mobile channel, significant disconnects remain. For example, only about a quarter leverage mobile for account opening, or plan to begin doing so.One considerable mobile onboarding hurdle is achieving convenient, secure and compliant ID document presentation and authentication. In March, at BAI Payments Connect 2016, mobile deposit software pioneer Mitek, Read More
The financial services world changed forever following the financial crisis, but not just because of the economic environment. Sure, the economy had an impact on the way regulatory requirements were established but the real driver of change has been the consumer. Faced with increasing expectations, changing behavior and advancing technology, some leading financial institutions have successfully recognized Read More
The Bank of East Asia (BEA), based in Hong Kong, was recognized as the Most Innovative Bank of the Year at the 2015 BAI-Infosys Finacle Global Banking Innovation Awards on Oct. 13 at BAI Retail Delivery 2015 in Las Vegas. Fidor Bank AG of Germany, meanwhile, won for Most Disruptive Innovation in Banking and Albuquerque New Mexico-based Read More
“The whole value chain of banking is up for grabs,” said Manuel “Manolo” Sanchez, chairman and CEO of BBVA Compass, in response to a question about disruption challenges to the banking industry posed by financial technology (FinTech) startups. Citing payments as one area particularly ripe for disruption, Sanchez added, “Banks need to focus on partnerships or collaboration.” Read More
As banks look ahead to 2016, they face a challenging environment of low interest rates continuing to suppress net interest margins and an increasing regulatory burden that raises compliance costs and restricts fee income. Even so, managers must still come to their boards with viable plans to move the organization forward. Serial entrepreneur Robert Herjavec can provide Read More
Even as banks across the globe accelerate their innovation in mobile, big data and social channels, they also face the need to renew the legacy system infrastructures that often prevent them from taking full advantage of these front-end improvements. “To continuously innovate on digital channels and customer touch points, one requires a robust back-end enterprise infrastructure,” says Read More
