(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.data-privacy-src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-P7RK2W');

Digital newcomers push traditional banks to improve

Startup financial technology (FinTech) companies may be the best thing to happen to traditional banks in a long time. No, really.Many have warned that the introduction of digitally savvy options into a traditional market can be disastrous. After all, just look at what Uber is doing to the taxi business. In a heavyweight match between traditional banks Read More

By |2020-05-27T18:00:09-05:00June 13th, 2016|Comments Off on Digital newcomers push traditional banks to improve

Improving returns on marketing investment

Traditionally, quantifying the return on investment (ROI) of bank marketing has been elusive. In today’s more competitive environment, it simply is not enough to base marketing results on inferences. Fortunately, today’s bankers have access to a combination of tools and services to measure marketing’s true impact and determine actual ROI. A bank’s ability to successfully reach and attract Read More

By |2020-05-27T18:00:10-05:00June 6th, 2016|Comments Off on Improving returns on marketing investment

A closer look at alternative lenders

Over the past year, the alternative lending industry has taken several steps forward and, then, a big leap backward. The most notable step forward centers on the relationship between OnDeck Capital and JPMorgan Chase & Co. Chase now leverages OnDeck’s technology for its small business loans. This relationship, among others, has helped to focus senior bank managers Read More

By |2020-05-27T18:00:10-05:00June 3rd, 2016|Comments Off on A closer look at alternative lenders

FinTech property rights and banks

It’s an odd paradox: the financial services industry spends millions on title searches and title insurance each year, but has not been quite as diligent in exploring who actually owns the intellectual property behind its mission-critical technology. Granted, bank exposures are somewhat mitigated through contractual indemnification and warranties. However, as the industry continues to use more non-traditional vendors Read More

By |2020-05-27T18:00:10-05:00May 31st, 2016|Comments Off on FinTech property rights and banks

Improving the customer experience with journey mapping

Sometimes, a simple shift in perspective makes a big difference. That’s what banks are discovering when their contact centers utilize a method of analysis known as “customer journey mapping.” By looking at their internal processes from the customer’s point of view, these institutions are improving both contact center efficiency and customer satisfaction.The practice of customer journey mapping Read More

By |2020-05-27T18:00:10-05:00May 19th, 2016|Comments Off on Improving the customer experience with journey mapping

Transforming branch staff with predictive analytics

In recent years, banks have been focused on driving costs out of the branch network with self-service technology, branch closures and staff reductions. Yet, there is a genuine risk that driving any more cost out of the branches with across-the-board staff cuts will drive customers out of the bank altogether.“Workforce is the lifeblood of any organization,” according Read More

By |2020-05-27T18:00:10-05:00May 15th, 2016|Comments Off on Transforming branch staff with predictive analytics

Nine tips for improving branch lobby performance

At one end of the continuum for branch lobby services and sales are those banks whose frontline staff are well trained and equipped to combine prompt, knowledgeable and courteous service with enviable cross-sale rates. At the other end … well, let’s just say no financial services provider wants to be there.Where does your branch performance land on Read More

By |2020-05-27T18:00:11-05:00May 12th, 2016|Comments Off on Nine tips for improving branch lobby performance

Five strategies for competing with FinTechs

Financial technology (FinTech) start-ups are bringing noticeable competition to the financial industry’s traditional retail and investment banks. What differentiates them from traditional banks is their agility in addressing specific pain points such as payments, loans, mortgages, personal finance and remittance at speeds and pricing that is difficult for traditional banks to match. Like Uber for taxis, Netflix Read More

By |2020-05-27T18:00:11-05:00May 9th, 2016|Comments Off on Five strategies for competing with FinTechs

Ten steps to succeed with microbusinesses

Microbusinesses, defined as firms with annual revenues of less than $1 million, constitute 90% of all businesses and thus represent a significant opportunity for banks. But given the small size of loans involved in this segment, how does a bank profitably serve these customers?The following is a suggested ten-step process for improving branch sales and service to Read More

By |2020-05-27T18:00:11-05:00May 2nd, 2016|Comments Off on Ten steps to succeed with microbusinesses

Leveraging customer data through the core

One of the central problems banks face is that, despite the wealth of information available to them, there is still much they do not know about their customers. For example, a customer might have a checking account and a car loan with your bank. This means you have a wealth of information on the customer’s daily spending Read More

By |2020-05-27T18:00:12-05:00April 20th, 2016|Comments Off on Leveraging customer data through the core

Leadership and technology for global financial services innovation

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

By |2020-05-27T18:00:12-05:00April 11th, 2016|Comments Off on Leadership and technology for global financial services innovation

Three ways to make your bank customer-centric

In today’s digital economy, banking, like other industries, faces “disruptive” expectations from customers. Both individuals and businesses expect access to and delivery of services virtually on demand. Winning companies are responding by creating innovative approaches to the customer experience. They have learned that recalibrating their processes, bringing them into alignment with customer expectations, has resulted in new Read More

By |2020-05-27T18:00:12-05:00April 4th, 2016|Comments Off on Three ways to make your bank customer-centric

Redefining the top-of-wallet customer

Influencing a customer’s decision to choose a specific credit card for any given transaction from her wallet can be challenging for card issuers. In the typical lifecycle of managing a bankcard customer, driving activation and usage is one of the most critical aspects of engagement.This is indeed a challenge for issuers, because consumers have many options available Read More

By |2020-05-27T18:00:12-05:00March 29th, 2016|Comments Off on Redefining the top-of-wallet customer

Three branch models for the future

If you have only scanned the headlines from the business world, the news about bank branches seems grim, as every week brings more branch closings by banks and credit unions.In many of those instances, managers of the financial institution cite the changing nature of customer behavior.  And yes, transactions are down dramatically, with volume dropping 45% since Read More

By |2020-05-27T18:00:13-05:00March 28th, 2016|Comments Off on Three branch models for the future

The next generation of core systems, maybe

Core data processing at one time was a massive and diverse business that included dozens, if not hundreds of organizations.  Some of the most recognized names in financial technology once operated vast and large data centers scattered about the United States.Recently, I found a copy of the now-defunct Federal Savings & Loan Insurance Corp. magazine from 1985 Read More

By |2020-05-27T18:00:13-05:00March 22nd, 2016|Comments Off on The next generation of core systems, maybe

Banking technology changes in 2016

2015 was a key year of change for the banking industry, with disruption and innovation taking center stage. The pace of change is set to accelerate further in 2016, driven by the continued proliferation of technology, the emergence of non-traditional players across the banking value chain, overall pressure on banks’ bottom lines and evolving customer expectations.As a Read More

By |2020-05-27T18:00:13-05:00March 15th, 2016|Comments Off on Banking technology changes in 2016

Think simple for digital transformation

A recent report on The Disruption of Banking by The Economist highlighted that more than half of the banks are either ignoring the Fintech trend, or talking but not doing anything about it. In 2016, we are now seeing banks finally starting to tackle the emerging trends by partnering on many fronts, utilizing application program interfaces (APIs) Read More

By |2020-05-27T18:00:13-05:00March 9th, 2016|Comments Off on Think simple for digital transformation

Funds transfer pricing for profitability measurement

While bankers have generally become more sophisticated in their understanding and execution of profitability analysis, all too often, they are limiting their potential for success by failing to utilize tools such as funds transfer pricing (FTP) to their full capabilities. Many bankers are already familiar with FTP, often leveraging it to measure the net interest margin at Read More

By |2020-05-27T18:00:14-05:00February 24th, 2016|Comments Off on Funds transfer pricing for profitability measurement

Getting big results with small data

Over the past few years, much has been written and discussed regarding “Big Data” – how to get it and how to use it. While the concept of “Big Data” is relatively straightforward, the practical application is anything but. The concept behind Big Data is to consolidate information from a myriad of sources to provide insight on Read More

By |2020-05-27T18:00:14-05:00February 12th, 2016|Comments Off on Getting big results with small data

Improving regulatory compliance during customer onboarding

Regulatory compliance is and always will be a major challenge for financial institutions, particularly when it comes to customer onboarding. A recent Pegasystems survey revealed that expanding Know Your Customer (KYC) requirements sits at the root of this problem, as 88% of banks say KYC has a significant impact on onboarding times. Forrester’s report, Client Onboarding In Read More

By |2020-05-27T18:00:14-05:00February 2nd, 2016|Comments Off on Improving regulatory compliance during customer onboarding