Information Technology

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Forecast for the cloud: Five questions before you weather a security storm

Migrating to a cloud solution isn’t new, revolutionary or innovative. At this point, many enterprises do it for a variety of reasons—enhanced strategy, flexibility, productivity and cost-savings among them. When workloads move from onsite storage from an online cloud, such benefits soon manifest themselves. But if your institution is contemplating the cloud leap, it’s difficult to ignore Read More

By |2020-05-27T17:59:41-05:00July 18th, 2017|Comments Off on Forecast for the cloud: Five questions before you weather a security storm

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

Empowering customers to fight card fraud

Card fraud is one of the fastest growing crimes impacting financial institutions. A 2016 LexisNexis report found that issuers directly lose $10.9 billion per year in card fraud, with an average loss of $5.90 per compromised card.With the threat mounting, a bank’s first impulse is often to build additional barriers to mitigate the risks of card fraud. Read More

By |2020-05-27T18:00:07-05:00August 2nd, 2016|Comments Off on Empowering customers to fight card fraud

Time to change out legacy systems

Historically, financial institutions have adopted technology with a best-of-breed approach, utilizing different platforms from different vendors. This is especially true in check processing, where multiple platforms are leveraged to support a single financial transaction or payment type. The end result is multiple platforms, multiple vendors, multiple support resources – and multiple headaches.To process a single check, a Read More

By |2020-05-27T18:00:08-05:00July 19th, 2016|Comments Off on Time to change out legacy systems

Automating loan decisions for small businesses

It’s no secret that small business loans historically offer small profit; in fact, there is little economic difference in funding a $100,000 loan versus a $1 million loan. However, even though these loans may not always be the biggest movers to a bank’s bottom line, this type of lending is essential to establishing and building lasting relationships Read More

By |2020-05-27T18:00:08-05:00July 15th, 2016|Comments Off on Automating loan decisions for small businesses

Three ways to improve customer feedback collection

Business leaders across the board recognize that gathering positive and negative feedback is the most effective means of molding a service around the real wishes and needs of consumers. Esteban Kolsky, the founder of ThinkJar, argues that 67% of customer churn is preventable if a problem is resolved at the first engagement. However, gathering the feedback to Read More

By |2020-05-27T18:00:09-05:00June 22nd, 2016|Comments Off on Three ways to improve customer feedback collection

Information access for customer service

While digital banking is one of the fastest growing channels for financial services, banking employees are still far and away the preferred interaction point. Especially when it comes to more complex financial needs – loans, investments or debt management – the primary channel banking consumers still use for researching and purchasing products is people. For example, a Read More

By |2020-05-27T18:00:09-05:00June 20th, 2016|Comments Off on Information access for customer service

Enforcing technology strategy by the CEO

It used to be that bank CEOs wore their lack of technology expertise as a badge of honor: “Hey, I came up through the lofty halls of Credit; I don’t need to know anything about technology.” However, times change. Now that product delivery, service, underwriting, sales execution and marketing are all inextricably attached to technology, today’s CEOs Read More

By |2020-05-27T18:00:09-05:00June 17th, 2016|Comments Off on Enforcing technology strategy by the CEO

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

ValueWeb and the new age of finance

Money originated as a control mechanism for governments of ancient Sumer to control farmers, based upon shared beliefs. It was then structured during the Industrial Revolution into government-backed institutions, banks, which could issue paper notes and checks that would be as acceptable as gold or coinage, based upon these shared beliefs. We share a belief in banks, Read More

By |2020-05-27T18:00:10-05:00June 10th, 2016|Comments Off on ValueWeb and the new age of finance