Climb well spent: Getting to the top of the mobile wallet

We’ve heard the hype about mobile wallets for almost a decade. And heard it. And heard it. And yet ... the road to adoption has been slow. Passenger-pigeon slow. Tin-can-and-string slow. Ugly-beige-rotary-phone slow. The stats tell the story. The Bain/Research Now Retail Banking NPS Survey 2018 found less than one in ten Americans reported using Apple Pay Read More

By |2020-05-27T18:16:25-05:00January 29th, 2020|Comments Off on Climb well spent: Getting to the top of the mobile wallet

Cut the back-office payments chaos in 2020

In order to be considered customer-focused in all areas, including payments, many businesses have unintentionally created chaos in their back office. They’ve added new payment channels even as old methods, such as checks, have refused to die. Companies today may accept six or more payment types to keep everyone happy — and each channel has its own Read More

By |2020-05-27T18:16:26-05:00January 15th, 2020|Comments Off on Cut the back-office payments chaos in 2020

Banking on the future with prepaid mobile apps

Born between 1980 and 2000, Millennials, at 83 million strong, are now the largest generation in American history. These individuals are poised on the receiving end of what is expected to be the largest ever inter-generational transfer of wealth: an estimated $30 trillion from their Baby Boomer parents and grandparents. They’re already spending as a generation about Read More

By |2020-05-27T18:00:07-05:00August 19th, 2016|Comments Off on Banking on the future with prepaid mobile apps

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

Improving bill pay for customer retention

Customers are becoming increasingly dissatisfied with the mobile bill pay experiences provided to them by banks. According to our discussions with financial institutions (FIs), only about 55% to 60% of customers are using their bank’s bill pay solutions. They are either switching to an outside app that is not affiliated with their bank or paying their bills Read More

By |2020-06-04T18:20:52-05:00May 31st, 2016|Comments Off on Improving bill pay for customer retention

Enhancing mobile wallets with beaming technology

Despite all the excitement around mobile payments and mobile wallets, consumer adoption has been disappointingly slow. One reason is that current payment apps don’t enable “non-cash” payments and promotions, which reduce the customer incentive and benefit to use them. The value of storing credit and debit cards on a mobile wallet is obvious, but today’s mobile payment Read More

By |2020-05-27T18:00:10-05:00May 24th, 2016|Comments Off on Enhancing mobile wallets with beaming technology

Six ways to capitalize on the internet of things

$1.3 trillion: a massive sum, which represents the increased revenues and lower costs that will be created by the Internet of Things (IoT) between 2013 and 2022 in the financial services industry alone, according to Cisco. When you consider the financial opportunity in tandem with the possibilities that IoT offers to gather and disseminate information from an Read More

By |2020-05-27T18:00:11-05:00May 10th, 2016|Comments Off on Six ways to capitalize on the internet of things

Mobilizing account opening

Although most U.S. banks offer some type of mobile channel, significant disconnects remain. For example, only about a quarter leverage mobile for account opening, or plan to begin doing so.One considerable mobile onboarding hurdle is achieving convenient, secure and compliant ID document presentation and authentication. In March, at BAI Payments Connect 2016, mobile deposit software pioneer Mitek, Read More

By |2020-05-27T18:00:12-05:00April 18th, 2016|Comments Off on Mobilizing account opening

Four ways to improve mobile banking

When USAA introduced mobile check deposits back in 2009, the feature wasn’t exactly welcomed with open arms. Perhaps the bank was a bit ahead of its time, as smartphones were just coming into vogue and consumers barely trusted the Internet with their personal information – let alone their mobile devices.Today, however, mobile banking is on the rise, with Read More

By |2020-05-27T18:00:13-05:00March 21st, 2016|Comments Off on Four ways to improve mobile banking

Enlisting the customer in fighting payments fraud

The level of fraud protection afforded to a business when conducting a transaction is very different from the level of protection offered to consumers. Consumers are allotted sixty days to dispute an unauthorized transaction while businesses are limited merely two days to report fraudulent activity, due to regulations like Article 4A of the Uniform Commercial Code.Although businesses Read More

By |2020-05-27T18:00:13-05:00March 8th, 2016|Comments Off on Enlisting the customer in fighting payments fraud