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

Five strategies for competing with FinTechs

Financial technology (FinTech) start-ups are bringing noticeable competition to the financial industry’s traditional retail and investment banks. What differentiates them from traditional banks is their agility in addressing specific pain points such as payments, loans, mortgages, personal finance and remittance at speeds and pricing that is difficult for traditional banks to match. Like Uber for taxis, Netflix Read More

By |2020-05-27T18:00:11-05:00May 9th, 2016|Comments Off on Five strategies for competing with FinTechs

Leveraging customer data through the core

One of the central problems banks face is that, despite the wealth of information available to them, there is still much they do not know about their customers. For example, a customer might have a checking account and a car loan with your bank. This means you have a wealth of information on the customer’s daily spending Read More

By |2020-05-27T18:00:12-05:00April 20th, 2016|Comments Off on Leveraging customer data through the core

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

Leadership and technology for global financial services innovation

The financial services world changed forever following the financial crisis, but not just because of the economic environment. Sure, the economy had an impact on the way regulatory requirements were established but the real driver of change has been the consumer. Faced with increasing expectations, changing behavior and advancing technology, some leading financial institutions have successfully recognized Read More

By |2020-05-27T18:00:12-05:00April 11th, 2016|Comments Off on Leadership and technology for global financial services innovation

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

Rising interest rates and community banks

Last year, as the Federal Reserve was preparing for its long-anticipated first monetary tightening in nearly a decade, the conversation began to focus on the generation of bankers whose concept of “normal” consisted of short-term interest rates near zero percent and holding steady. So, now that the suspense is over and we have “lift-off” in the Fed Read More

By |2020-05-27T18:00:14-05:00February 23rd, 2016|Comments Off on Rising interest rates and community banks

Reducing bank courier expenses

In today’s sluggish economy, banks are looking under every rock for cost savings in order to show better earnings growth. One source of expense control, however, has been hiding in plain sight: the cost of courier services. With Branch Image Capture (BIC) and Remote Deposit Capture (RDC) technology, physical copies of checks are no longer necessary to Read More

By |2020-05-27T18:00:14-05:00February 17th, 2016|Comments Off on Reducing bank courier expenses