The importance of stress scenarios in budgeting

Most financial institutions take an iterative approach to their budgeting process – running through multiple passes and scenarios before finalizing. We have seen the most progressive institutions take their budgeting practices to the next level by running stress scenarios as part of this iterative process. Given the risks facing financial institutions due to anticipated rate increases, which Read More

By |2020-05-27T18:00:15-05:00December 16th, 2015|Comments Off on The importance of stress scenarios in budgeting

Competing with digital disruptors

Digital disruption, or the use of digital technologies and business models to improve business performance, has the potential to overturn incumbents and reshape markets faster than perhaps any force in history. That may sound bold, but we’ve seen it before. In the mobile industry, Apple and Android devastated the pre-smartphone brands such as Nokia, Blackberry and Palm. Now, digital disruption Read More

By |2020-05-27T18:00:16-05:00December 15th, 2015|Comments Off on Competing with digital disruptors

Three steps to transforming the branch digitally

With increasing adoption of digital and mobile channels, along with changing customer preferences, branch banking is undergoing a tremendous shift towards self-service banking. The dilemma for bankers is: how can they service their customers better while they reduce their footprints both in terms of physical location and the number of touch points inside the branch? As bankers Read More

By |2020-05-27T18:00:16-05:00December 8th, 2015|Comments Off on Three steps to transforming the branch digitally

Mobile-first banking for branch employees

The average bank branch is 25 years old, designed for a different era, and in-branch foot traffic is proving to be on a steady decline. As the channel evolves, bankers have gone through a long list of updates in order to maintain relevancy and efficiency. Ironically, it’s digital solutions that offer a universal key to a successful Read More

By |2020-05-27T18:00:16-05:00December 7th, 2015|Comments Off on Mobile-first banking for branch employees

Three design principles for omnichannel experience

Banks are investing in new technology to create omnichannel experiences for their customer but success has been limited. Why? For one thing, bankers overlook these wise words from Steve Jobs, the founder of Apple: “You’ve got to start with the customer experience and work back toward the technology – not the other way around.” In other words, Read More

By |2020-05-27T18:00:16-05:00December 2nd, 2015|Comments Off on Three design principles for omnichannel experience

Improving branch effectiveness in a digitized world

The digitization of retail banking has changed consumer expectations in terms of their relationships with their bank and preferred channels for conducting banking transactions. Many consumers today primarily manage their accounts online or through their mobile device. Nearly a third of consumers report never visiting a bank branch in the last six months; 58% of those under Read More

By |2020-05-27T18:00:16-05:00November 24th, 2015|Comments Off on Improving branch effectiveness in a digitized world

Embedded analytics for smarter sales

Bankers need help selling to demanding, savvy customers in all channels. But it’s a challenge to provide personalized, needs-based product and service offerings at the point-of-sale without possessing in-depth knowledge of every banking product. Today the sales process at the branch typically works like this: the banker asks a series of questions to help understand the prospect’s Read More

By |2020-05-27T18:00:16-05:00November 23rd, 2015|Comments Off on Embedded analytics for smarter sales

Accelerating digital enterprise innovation

Developing and implementing a holistic digital strategy and innovation program is critical for financial institutions wanting to thrive in today’s crowded, competitive market, full of disruptive new entrants. However, the reality is that many financial services organizations continue to struggle with understanding, defining, and addressing the nexus of mobile, cloud, Big Data, and social digital solutions in Read More

By |2020-05-27T18:00:17-05:00November 10th, 2015|Comments Off on Accelerating digital enterprise innovation

The Henry Ford School of bank digitization

Ask banking executives about their top priorities and you are likely to hear that they are pursuing “digitization.” But it’s not immediately clear what this term means. How is it different from automation? The easiest way to grasp the contrast is to think of how digitization has transformed music purchases, travel booking, grocery shopping and taxi services. Read More

By |2020-05-27T18:00:17-05:00November 9th, 2015|Comments Off on The Henry Ford School of bank digitization

Three innovation tactics for community banks

Wells Fargo, Deutsche Bank and JP Morgan Chase have recently attracted attention with their innovation labs. Seems like every large bank has at least one lab in which they experiment with new technologies, business processes and products and services. It’s not surprising that the word “innovation” has become such a beacon for banks. Now that the dust Read More

By |2020-05-27T18:00:17-05:00October 27th, 2015|Comments Off on Three innovation tactics for community banks