What can community banks do to level the playing field against larger national competitors? Here it is, on the level: maybe nothing, so far as that tired cliché goes. That is, not when you can leap frog the field instead. Kelly Burdette, senior vice president for digital and products for Sheffield, Alabama-based Bank Independent, indeed wants to Read More
PwC’s 2018 Digital Banking Consumer Survey told us what we’ve known for a few years: There’s a shift going on in consumer technology behavior. In effect, banks feel pressure to constantly add new feature functionality to their digital banking channels—but often fail to prioritize user experience (UX). The benefits of new technology fall by the wayside if Read More
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
With 2017 in full swing, let’s pause to recall the many well-intentioned executives whose proposals to hike spending on mobile banking were as welcome by their CEOs as a Friday afternoon visit from the FDIC. It’s easy to understand the temptation to cut budget requests to enhance mobile banking. After all, many fixed and regulatory costs are Read More
The all-mobile Starling Bank launched in beta last week. Yet as the architect of a high-tech, branchless bank, Starling CEO Anne Boden is no Silicon Valley denizen, but a former insider to the conventional banking industry. Starting as a computer programmer at 21, Boden rose to senior levels in British and Irish banking. Yet the more she Read More
The banking industry is still trying to master the recipe for peerless digital transformation. Social media services boast all the key ingredients to make it happen. No wonder when Facebook’s Noah Choi looks at the present state of things, he sees an unappetizing option: stale cookies. “In a mobile-first world, where people spend lots of time, cookies Read More
Pinnacle Financial Partners illustrates how banks are using remote deposit capture, which enables customers to take photos of checks on their smart phones. Check deposit using the technology has surged – 63% compound annual growth between 2014 and 2006, when the Nashville-based bank first offered the service. On the other hand, interest by consumers and businesses in Read More
Planning and executing a successful mobile roadmap is challenging under normal circumstances. This task becomes more challenging when the mobile app must comply with industry regulations and strict internal security policies. Now, add a conservative management team that errs on the side of caution along with an Information Technology (IT) department that appears to be booked solid Read More
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
Having a world-class digital banking experience across any device is imperative today, where nine out of ten U.S. adults regularly use some form of online banking and more than half of them access their banks’ websites or applications via their mobile device, according to a recent report from Mercator Advisory Group. With the proliferation of mobile devices Read More
