Channel or device? The debate goes on

It has become a commonplace to say that the traditional banking and payments industries need to be customer centric if they’re going to survive, much less thrive. Now, the customer-first concept seems to extend to the old debate about channels vs. devices. Some practitioners in our industry seem increasingly to define “channel” in terms of customer experience Read More

By |2020-05-27T18:01:05-05:00May 6th, 2013|Comments Off on Channel or device? The debate goes on

A Tiered Approach to Overdraft Fees

In 2012, our research shows bank overdraft (OD) revenues down about 20% from their 2008 levels, although they still constitute well over half of the industry’s total checking account revenues. Is it time to rethink this source of income entirely, given the hostile regulatory environment, consumer reaction and competitive response? Our experience indicates that financial institutions (FIs) Read More

By |2020-05-27T18:01:06-05:00April 9th, 2013|Comments Off on A Tiered Approach to Overdraft Fees

Connecting to Payments Change

For many years, the payments business has been an important priority for financial services companies because of the impact of payments on product and customer delivery strategies and the associated robust revenue streams. The financial results of the payments business were especially important when other lines of business were experiencing intense profitability pressures – payments really made Read More

By |2020-05-27T18:01:07-05:00March 4th, 2013|Comments Off on Connecting to Payments Change

Decision Time for Banks on Mobile Wallet

As the hype around mobile wallets continues to build, many banks find themselves at a crossroads in their strategic thinking. On the one hand, a mobile wallet represents a valuable communications channel through which banks can deepen customer relationships, gain valuable insight into spending habits and a clearer understanding of customer attitudes toward new products and services. Read More

By |2020-05-27T18:01:09-05:00January 4th, 2013|Comments Off on Decision Time for Banks on Mobile Wallet

Time to Overhaul Your Analytics Engine?

A friend reports on a recent and rare visit to his bank branch: “I felt like I was in a time warp. There were signs all around pushing home equity loans. Are those tactics working well these days?” He has a good point. Banks are still in the banking business; they can’t start selling handbags and tattoos Read More

By |2020-05-27T18:01:13-05:00July 24th, 2012|Comments Off on Time to Overhaul Your Analytics Engine?

Three Revenue Models for Mobile

There’s no question that bankers “get it” when it comes to mobile banking and payments, considering that most major financial institutions now offer their customers some package of mobile banking services. What’s less clear, however, is if banks get it when it comes to figuring out the appropriate business model; for now, most have defaulted to offering Read More

By |2020-05-27T18:01:13-05:00July 2nd, 2012|Comments Off on Three Revenue Models for Mobile

Charging for Lifestyle Financial Services

Consumers' lifestyle changes are going to redefine the role financial institutions play in the future. Although the main role of financial institutions will continue to be a source of funding and savings for personal and business use, an auxiliary role is emerging that is gaining in importance and could become a deciding factor for consumers when selecting Read More

By |2020-05-27T18:01:14-05:00June 1st, 2012|Comments Off on Charging for Lifestyle Financial Services

Fighting Payments Fraud the Hybrid Way

Fraud is endemic to the global payments system and the tools financial institutions have historically used to fight it are marginal at best. Instead, a hybrid approach using multiple analytic methods including link or network analysis to identify suspicious behavior at the transaction, account, customer and network levels provides the greatest return for an institution’s investment. This Read More

By |2020-05-27T18:01:15-05:00May 9th, 2012|Comments Off on Fighting Payments Fraud the Hybrid Way

Visualizing Payments Data for Customer Analytics

Bankers worry a lot: about regulation, about risk and certainly about revenue. Ironically, bankers already possess data that can allay most of their worries. They have the data to comply with regulations, mitigate risks and even enhance revenues. The problem is they have too much data – much of it they cannot see, much less understand and Read More

By |2020-05-27T18:01:16-05:00April 11th, 2012|Comments Off on Visualizing Payments Data for Customer Analytics

From Mobile Bill Payment to Mobile Wallet

Over the last year, media attention and overall interest in mobile payments has surged dramatically. While point-of-sale (POS) payments and mobile wallets have grabbed most of the headlines, the real story may be the growth of mobile bill payments. Consider these finding from the 2011 Fiserv Billing Household Survey: Almost six million U.S. online households make a Read More

By |2020-05-27T18:01:17-05:00March 12th, 2012|Comments Off on From Mobile Bill Payment to Mobile Wallet