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

Becoming the bank your customers love

Like many other large, complex and regulated industries, the very foundation of banking is being challenged, to the point that we often hear the saying,“Banking is necessary; banks are not.” Yet, here we are today with hundreds of financial technology (FinTech) startups gunning for wallet share and disrupting an industry that is at the very root of Read More

By |2020-05-27T18:00:14-05:00February 1st, 2016|Comments Off on Becoming the bank your customers love

Lessons from retail customer analytics

The retail industry is perhaps one of the most advanced verticals when it comes to effectively using data analytics to engage customers at the right time, in the right context and with the right information to increase sales. Retailers excel at capturing data on customer behaviors, preferences and buying patterns and then analyzing it to create highly Read More

By |2020-05-27T18:00:14-05:00January 26th, 2016|Comments Off on Lessons from retail customer analytics

Five strategies for growing revenue

Editor Note: David Kerstein has updated this article. Banks are hungry for growth: hungry for new customers, for deeper and more profitable relationships with existing clients and for better alignment of expense against revenue opportunities. But achieving that growth is a difficult challenge. Low interest rates continue to put pressure on margins. According to the most recent Read More

By |2020-10-02T10:25:31-05:00October 23rd, 2015|Comments Off on Five strategies for growing revenue

Surviving data breaches with robotic process automation

Data breaches have become so common that virtually no business or financial institution is safe. The 2015 Verizon Data Breach Investigation Report confirmed that the top three industries most affected were public, technology/information, and finance. Data breaches cause data integrity to be compromised, including important financial and personal customer information, which puts customers and the organization at Read More

By |2020-05-27T18:00:18-05:00September 9th, 2015|Comments Off on Surviving data breaches with robotic process automation

Five tactics for keeping branches relevant

Smartphones are increasingly recognized as a natural conduit for everyday financial transactions, such as making payments and scanning checks for deposit. Still, some financial business is not meant for the small screen – or any size screen, for that matter. Many consumers continue to value the opportunity to sit down and talk through their financial options for Read More

By |2020-05-27T18:00:29-05:00September 4th, 2015|Comments Off on Five tactics for keeping branches relevant

Creating the FinTech dream in financial services

I find it interesting that so many bloggers on financial technology (fintech) sites deride the banks for being slow, clueless or stupid. They talk about how banks don’t do this, don’t do that; fail at this, fail at that; have no idea, cannot change; are stuck in the past or have their heads in the ground like an Read More

By |2020-05-27T18:00:30-05:00August 24th, 2015|Comments Off on Creating the FinTech dream in financial services

Catching big fraud with small data

With fraud prevention, many banks emphasize how their systems leverage “big data” to find patterns of unusual activity by using data analytics to process through millions of transactions and pinpoint fraudulent activity. While big data has many advantages in fraud detection, it has also alienated some banks and other financial services institutions that think they are too Read More

By |2020-05-27T18:00:31-05:00July 22nd, 2015|Comments Off on Catching big fraud with small data

Delighting customers with pivotal events

Although banks have continually sought to offer better products and prices to improve the customer experience, since the financial crisis many have been hampered in these efforts by regulatory burdens and a cost-cutting mindset. The inability to devote sufficient resources to delighting customers is a paradox, because banks have a real need to attract new customers and Read More

By |2020-05-27T18:00:32-05:00June 15th, 2015|Comments Off on Delighting customers with pivotal events

Improving efficiency to enable future growth

Banks, especially small and mid-sized banks, are currently dealing with several difficult cost and growth challenges. Low interest rates, regulatory constraints on products and services, high costs for compliance and cybersecurity put significant pressure on their bottom-line. In addition, they face powerful new entrants, e.g., for payment systems and finance companies who seek to find and exploit Read More

By |2020-05-27T18:00:33-05:00June 8th, 2015|Comments Off on Improving efficiency to enable future growth