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

Faster funds availability for customers

It’s not a challenge that will dissipate anytime soon: banks’ never-ending efforts to balance security and convenience. If we focus in on convenience, it really boils down to consumers’ lifestyle needs and demands for banking services. Initially, we might think that their expectations are met with new, shiny self-service options and mobile app capabilities. But in reality, Read More

By |2020-05-27T18:00:12-05:00April 6th, 2016|Comments Off on Faster funds availability for customers

Redefining the top-of-wallet customer

Influencing a customer’s decision to choose a specific credit card for any given transaction from her wallet can be challenging for card issuers. In the typical lifecycle of managing a bankcard customer, driving activation and usage is one of the most critical aspects of engagement.This is indeed a challenge for issuers, because consumers have many options available Read More

By |2020-05-27T18:00:12-05:00March 29th, 2016|Comments Off on Redefining the top-of-wallet customer

Think simple for digital transformation

A recent report on The Disruption of Banking by The Economist highlighted that more than half of the banks are either ignoring the Fintech trend, or talking but not doing anything about it. In 2016, we are now seeing banks finally starting to tackle the emerging trends by partnering on many fronts, utilizing application program interfaces (APIs) Read More

By |2020-05-27T18:00:13-05:00March 9th, 2016|Comments Off on Think simple for digital transformation

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

Digital wallets not yet ready for prime time

We read a lot about digital wallets these days – particularly in the wake of 2014’s Apple Pay announcement. All this excitement inevitably raises the question: when will digital wallets replace leather wallets? In other words, when will old fashioned cash and traditional credit cards become passé? To answer that question, we need to consider the following: Read More

By |2020-05-27T18:00:13-05:00March 7th, 2016|Comments Off on Digital wallets not yet ready for prime time

FinTech for startups and Techfin for bankers

In conversation with bankers and start-up executives, it is clear that there is a differing view of the world. It is not as clear-cut as nimble innovator versus dinosaur incumbent, which is how many portray this chasm of difference in thinking, but there is a difference in thinking. In fact, it’s a radical difference in thinking, perhaps Read More

By |2020-05-27T18:00:13-05:00March 4th, 2016|Comments Off on FinTech for startups and Techfin for bankers

Seven lessons in crisis management

One important lesson that all bankers learned during the financial crisis was that trust is essential to their success and that once an institution loses that trust in the eyes of its customers, regulators or the public, it’s a long and difficult road to win it back. That’s why the current Volkswagen emissions scandal is so fascinating Read More

By |2020-05-27T18:00:14-05:00March 1st, 2016|Comments Off on Seven lessons in crisis management

Five payments trends for 2016

2015 was a transformative year that forced the incumbent financial services industry to react to several developments in payments, including disruptive innovations from non-bank financial technology (FinTech) competitors, a frenzy of mobile wallet announcements from tech titans and continuing excitement over the blockchain as a threat to traditional finance models. So what’s next in payments? What will Read More

By |2020-05-27T18:00:14-05:00February 8th, 2016|Comments Off on Five payments trends for 2016

Satisfying the bill pay omnivore

New research from Fiserv reveals consumers value choice when it comes to billing and payments – and these choices lead to increased customer satisfaction and retention. This is especially true for financial institutions acting as a biller, defined as a financial institution that issues recurring monthly bills and statements and collects payments for business and personal loans; Read More

By |2020-05-27T18:00:15-05:00January 25th, 2016|Comments Off on Satisfying the bill pay omnivore