How to strengthen strategic planning in the fintech age

That sound you’ve grown accustomed to—the grinding of dulled gears and the banking of humbled heads against office walls—is banking industry disruption wrought by technology moving faster than ever. A generation ago something revolutionary like Excel happened every few years. Today the “next wave” seems to be measured in days, especially when you factor in the juggernaut Read More

By |2020-05-27T17:58:16-05:00October 22nd, 2018|Comments Off on How to strengthen strategic planning in the fintech age

How FinTechs finally found allure in community banks

The stereotype is that FinTechs play big. Really big. Only big. Big-dreamin’ entrepreneurs cruise Silicon Valley’s Sand Hill Road in big-money sports cars, looking for big-time venture capital so that they can finally, finally play ball with the big dogs of the banking world. Community banks? (Insert laughter here.) Don’t make Mr. Big Disruptor spit out his Read More

By |2020-05-27T17:59:37-05:00September 21st, 2017|Comments Off on How FinTechs finally found allure in community banks

The way to go robo: Customers should drive approaches to roboadvisory

Over the last decade, we’ve seen tremendous changes in how the advisory industry provides and delivers services. More than ever, the roboadvisory has become a substantial part of the conversation—and the benefits are enticing. Instead of the traditional, human-based advisory system favored in the past, roboadvisories can offer investors a number of distinct advantages. These include increased Read More

By |2020-05-27T17:59:39-05:00August 30th, 2017|Comments Off on The way to go robo: Customers should drive approaches to roboadvisory

FinTernational: Six global fintech hotbeds

When the fintech companies burst onto the U.S. scene around the time of the financial crisis in 2007-’08, the image was one of young Silicon Valley and Silicon Alley techbros ready to put aging, creaky necktie-wearing bankers and their businesses out to pasture. But here’s what happened instead: Global fintech centers rose to challenge the supremacy of Read More

By |2020-05-27T17:59:39-05:00August 28th, 2017|Comments Off on FinTernational: Six global fintech hotbeds

How one bank leveraged FinTech for a major account win

Our torrid affair with Groupon has always been a love-hate thing: The more consumers embraced it, the more businesses discovered it was just another form of pay-to-play. That, and outflanking by copycat discount sites, explains in large part why Groupon stock eventually tanked and CEO Andrew Mason was forced out of the company he created. But where Read More

By |2020-05-27T17:59:39-05:00August 18th, 2017|Comments Off on How one bank leveraged FinTech for a major account win

The message in code: Why banks must step up their user authentication game

Even though there’s no gun present, banks and their customers are being silently robbed. The reason? The mechanisms used to identify, authenticate and authorize users are rife with weaknesses. While banks value convenience in the race to secure customer satisfaction, they must balance it with security. With an estimated 265.9 mobile phone users in the United States, Read More

By |2020-05-27T17:59:40-05:00August 8th, 2017|Comments Off on The message in code: Why banks must step up their user authentication game

Podcast: Helping customers win through financial wellness

When banks get involved in improving the financial wellness of their prospective and current clients, everybody wins. How can banks help those who struggle to achieve financial stability and assure customer loyalty? On this podcast episode, Rochelle Nawrocki Gorey, co-founder and CEO of SpringFour, outlines how consumers can reach meaningful goals and how banks can help them Read More

By |2020-05-27T17:59:41-05:00July 28th, 2017|Comments Off on Podcast: Helping customers win through financial wellness

Podcast: How banks can embrace technology through ‘fintegration’

Fintech is no longer a matter of anti-bank disruption, and sometimes it takes a former entrepreneur in the space to best communicate that message. Andres Wolberg-Stok, who serves as Citi Fintech's global head of policy, shares how his bank makes high-tech work for in-house teams and customers alike. From the podcast: The podcast references the article: Peering into Read More

By |2020-05-27T17:59:41-05:00July 14th, 2017|Comments Off on Podcast: How banks can embrace technology through ‘fintegration’

The long and winning road: From FinTech diligence to partner confidence

Financial services organizations are used to increased regulatory requirements for FinTech and other vendors—so accustomed, in fact, that the established due diligence review process to assesses a vendor’s capabilities now reads like a regulation laundry list. It includes, but is not limited to: Financial statement analysis Management review Risk management assessment Funding Insurance Internal and external audits Read More

By |2020-05-27T17:59:43-05:00June 8th, 2017|Comments Off on The long and winning road: From FinTech diligence to partner confidence

Revv-olution: The nuts and bolts that power your innovation engine

“Our intuition about the future is linear. But the reality of information technology is exponential, and that makes a profound difference. If I take 30 steps linearly, I get to 30. If I take 30 steps exponentially, I get to a billion.”  —Ray Kurzweil, author, computer scientist, inventor and futurist   Without doubt, today’s exponential rate of Read More

By |2020-05-27T17:59:44-05:00May 24th, 2017|Comments Off on Revv-olution: The nuts and bolts that power your innovation engine

FinTech, flexibility and winning strategy

In the first part of this series,  we examined how banks can harness the flexibility and customer-centric technologies FinTech’s possess, while also leveraging existing competitive advantages in brand strength, existing market share and rich stores of data to fuel predictive analytics. In part two, we’ll examine how banks can best execute a sound FinTech strategy, and capitalize Read More

By |2020-05-27T17:59:45-05:00May 22nd, 2017|Comments Off on FinTech, flexibility and winning strategy

Podcast: Where payments meet people

On this episode of the BAI Banking Strategies podcast, we're joined by payments expert Patricia Hewitt. Patricia shares with us her thoughts about how digital-social ecosystems such as China's messaging app WeChat represent natural payments hubs - allowing financial services organizations to serve consumers where they already live, work and play. From the podcast: For more from Read More

By |2020-05-27T17:59:45-05:00May 19th, 2017|Comments Off on Podcast: Where payments meet people

A winning FinTech formula: Define, adopt and execute

This past winter, the Financial Services Roundtable arranged one of the best events in recent memory to address the broad topic of FinTech. Their FinTech Ideas Festival assembled an unparalleled group of executives from the largest financial services and technology companies—and, of course, representatives from a diverse group of FinTechs—to discuss and debate areas of technology expected Read More

By |2020-05-27T17:59:45-05:00May 18th, 2017|Comments Off on A winning FinTech formula: Define, adopt and execute

Three ways to challenge FinTech gains on consumer loans

“Banking is necessary; banks are not.” It’s been 22 years since Microsoft founder Bill Gates made waves with this controversial statement. And recent evidence suggests he may be right. While we still require banks to store, manage and distribute money, financial technology (FinTech) entrants are rapidly creating new business models to simplify functions such as loan requests—a Read More

By |2020-05-27T17:59:45-05:00May 3rd, 2017|Comments Off on Three ways to challenge FinTech gains on consumer loans

Podcast: The pillars of financial services innovation

On this episode of the  BAI Banking Strategies podcast, we're joined by Miranda Hill, director, innovation and commerce strategy at ThoughtWorks in Seattle. Miranda discusses the key attributes that make for successful fintech innovation, as well as what she hopes to see from nominees for the BAI Global Innovations Awards.   From the podcast: Miranda Hill is Read More

By |2020-05-27T17:59:46-05:00April 28th, 2017|Comments Off on Podcast: The pillars of financial services innovation

Podcast: Artificial intelligence and voice banking

On this episode of the BAI Banking Strategies podcast, we talk with Robb Gaynor, chief product officer at Malauzai Software in Austin, Texas. Robb outlines the current breakthroughs in AI. These include "conversational banking," where platforms such as Alexa and Google Home provide new levels of proactive assistance, and the Internet Bank of Things (IBOT), where devices Read More

By |2020-05-27T17:59:48-05:00March 10th, 2017|Comments Off on Podcast: Artificial intelligence and voice banking

Five characteristics to look for in your fintech partner

Fintech is hot, so the world tells us: VCs and private equity (PE) firms, large IT companies and a wide range of start-ups all agree. A cynic, however, would say that two worlds could hardly stand further apart: innovation vis-a-vis banks and insurance companies. A financial services organization by its very nature has a long-term view on Read More

By |2020-05-27T17:59:48-05:00March 9th, 2017|Comments Off on Five characteristics to look for in your fintech partner

Turning FinTech into WinTech: How smaller financial institutions can succeed with digital

Compelling digital offerings aren’t just a consumer expectation anymore. They are a necessity to stay competitive. But many financial institutions, especially smaller ones, are stuck in a holding pattern—with too many confusing options and choices to grasp a clear sense of how to move forward. What’s the best way to harness new digital technology to deliver the Read More

By |2020-05-27T17:59:49-05:00February 21st, 2017|Comments Off on Turning FinTech into WinTech: How smaller financial institutions can succeed with digital

Way to grow: How Senior Solution seized FinTech’s potential

How hot is Financial Technology? FinTech companies around the world impact all areas of financial services, a once highly regulated industry dominated by large banks. Industry observers such as Forbes—which in 2015 published its first “FinTech 50” list of innovative companies—predict we are entering a FinTech-led digital disruption phase that will challenge existing business models in retail Read More

By |2020-05-27T17:59:51-05:00December 20th, 2016|Comments Off on Way to grow: How Senior Solution seized FinTech’s potential

A core issue: Surgically replacing core banking platforms

The core banking system is the underlying system of record for credits and debits that maintains transactions, histories and balances. The core platform is both the map and the compass that link a bank’s operations, clients and correspondents together as they transact. When core banking systems were originally put in place, they were considered ideal for the Read More

By |2020-05-27T17:59:51-05:00December 19th, 2016|Comments Off on A core issue: Surgically replacing core banking platforms