Making Bill Pay a Win for Customers

The use of electronic bill payment at financial institution websites benefits both consumers and financial institutions. The 2012 Fiserv Consumer Trends survey found that consumers who use electronic bill pay and electronic bills (e-bills) are more satisfied with their financial management processes and feel a greater sense of financial control. Also, there is a proven correlation between Read More

By |2020-05-27T18:01:02-05:00August 28th, 2013|Comments Off on Making Bill Pay a Win for Customers

The Social Bank Revolution

One of the themes of my recent presentations is how technology has bridged the divide between work life and social life. This came up in force again the other week as we talked about the role of social media in finance at the Financial Services Club. For the older generation, work was always a place you went Read More

By |2020-05-27T18:01:03-05:00July 26th, 2013|Comments Off on The Social Bank Revolution

Lessons from an Early Branchless Bank

As banks switch to automation so customers don’t have to go to the branch, and use remote staff to provide assistance when they are in the branch, they are essentially re-orienting the customer relationship dynamics to resemble more of a branchless format. Customers perform transaction services through ATMs or third parties who accept debit cards and provide Read More

By |2020-05-27T18:01:04-05:00June 5th, 2013|Comments Off on Lessons from an Early Branchless Bank

The Age Divide in Banking Channel Preference

One of the main factors financial institutions should consider in planning their mix of channels, such as the branch network, online banking and mobile banking, should be the age group of their customer base. The latest consumer study conducted by MRI clearly shows a link between age group and a choice for banking channels; younger consumers gravitate Read More

By |2020-05-27T18:01:04-05:00May 22nd, 2013|Comments Off on The Age Divide in Banking Channel Preference

Unclogging the Online Account Opening Pipeline

Online account opening (OAO) presents a frustrating irony for many banks: The great service they are prepared to offer after they get a customer on board is belied by an often inferior, frustrating OAO process. “Just when prospective customers need to see us at our technological best,” fretted a banker client, “our online process exposes all our Read More

By |2020-05-27T18:01:08-05:00February 25th, 2013|Comments Off on Unclogging the Online Account Opening Pipeline

Banking on Digital Strategy

Do banks “get it right” when it comes to digital strategy? We recently posed that question to somebody eminently qualified to provide an answer: Aaron Dignan, CEO and founding partner of New York City-based Undercurrent, a digital strategy firm noted for working with some of the largest companies in corporate America. Dignan will appear in October as Read More

By |2020-05-27T18:01:12-05:00August 10th, 2012|Comments Off on Banking on Digital Strategy

Moven to All-Digital Banking

It’s no secret that Brett King doesn’t like branches. In the past few years, the business author and consultant has appeared at numerous industry conferences to proclaim that the branch is dead (or dying) and will be replaced with electronic delivery, specifically mobile. He may soon get a chance to put his theories into practice. King is founder and Read More

By |2020-05-27T18:01:16-05:00April 6th, 2012|Comments Off on Moven to All-Digital Banking

Battle Against Account Takeover

As fast as banks plug the holes in their security dams, criminals are finding alternative ways to take over customer accounts. “Even though we probably have a better ability to identify and catch these guys, they are quicker than ever before in their ability to evolve, and they can also escape our clutches better than ever before,” Read More

By |2020-05-27T18:01:17-05:00March 9th, 2012|Comments Off on Battle Against Account Takeover

Digital Banking Gets Personal

A bank is a digital business and, as a digital business, can be broken down into pure bits and bytes. More than that, a bank can be seen as three digital businesses in one: a manufacturer of products; a processor of transactions; and a retailer of services. In this context, the digitization of banking becomes more interesting Read More

By |2020-05-27T18:01:28-05:00November 29th, 2011|Comments Off on Digital Banking Gets Personal

Defining the New Paradigm of Banking

As 2011 draws to a close, most bankers would agree that the financial services industry is sorely in need of a New Paradigm; the old business models look increasingly strained in the wake of the financial crisis of 2008-2009, the subsequent regulatory overkill and now the accelerating Eurozone crisis. But what should that new paradigm encompass? According Read More

By |2020-05-27T18:01:29-05:00October 7th, 2011|Comments Off on Defining the New Paradigm of Banking