Best practices to avoid painful tech conversions

Core and other technology conversions have the reputation of being long and painful. A transition to a new service or tool is often a last resort, but implementing new technology is necessary to promote meaningful and innovative change within the organization. Whether a bank or credit union is looking to implement a new core, roll out mobile Read More

By |2020-06-04T19:47:41-05:00May 21st, 2020|Comments Off on Best practices to avoid painful tech conversions

Defeating latency is at the heart of the AI, fraud and data challenges at banks

There are many examples in modern business where low latency is critical, but perhaps none of them more so than in banking and financial services. For this industry, the speed with which networks relay communications and execute transactions is directly proportional to profitability. Because time is money, the difference between milliseconds and microseconds can mean the difference Read More

By |2020-05-27T18:16:25-05:00February 5th, 2020|Comments Off on Defeating latency is at the heart of the AI, fraud and data challenges at banks

Why marketing must work hand-in-glove with IT

Can marketing’s creative, spontaneous spirit productively partner with IT’s more structured, security-obsessed culture? It has to. The most brilliant big ideas produced by the marketing team will go nowhere fast if  the technology needed to execute is not properly identified, executed and managed. At fintechs, traditional banks and credit unions alike, the marketing technology stack and functionality Read More

By |2020-05-27T17:58:08-05:00May 1st, 2019|Comments Off on Why marketing must work hand-in-glove with IT

Seizing change in seas of change: a 2019 compass for AI in banking

Tumultuous shifts in the financial services industry over the past decade have cast many banks adrift in stormy seas of change. As they’ve increasingly digitized to meet customer demands for new services beyond traditional offerings, they’ve simultaneously paddled to keep abreast of ever-stricter customer data protection measures. Both issues make the other more complex. Despite their heroic Read More

By |2020-06-03T17:53:08-05:00March 13th, 2019|Comments Off on Seizing change in seas of change: a 2019 compass for AI in banking

How banks can gain a clearer vision of high tech’s next wave

It’s fascinating to recall that less than 40 years ago, the internet and banks had literally yet to connect. Then in 1983, the Bank of Scotland offered its dial-up Internet banking product. Not long after, web-based commerce took off like a cyberjet. You’d perhaps think banks saw this as a clarion call to build digital technology into Read More

By |2020-05-27T17:58:11-05:00February 15th, 2019|Comments Off on How banks can gain a clearer vision of high tech’s next wave

Banks and fintechs: Why the future looks brighter together

Conventional wisdom would have us believe that banks and fintech startups mix about as well as oil and water. And on one hand, there’s some truth in that. Ever since small, agile fintechs began emerging, many regulatory bodies and traditional financial institutions have regarded them with suspicion—if not outright hostility. That isn’t to say the two sides haven’t tried to Read More

By |2020-05-27T17:58:11-05:00February 14th, 2019|Comments Off on Banks and fintechs: Why the future looks brighter together

Overcoming blockchain’s barriers in the banking world

Make no mistake: Blockchain technology stands as a promising disruptor for dozens of current industries, and an enabler of change that will bring forth new opportunities and revenue streams for financial institutions, realtors, retailers and more. Unlike anything that’s come before it, blockchain enables trusted digital relationships without a centralized administration. (And in the case of cryptocurrencies, Read More

By |2020-05-27T17:58:12-05:00January 31st, 2019|Comments Off on Overcoming blockchain’s barriers in the banking world

The prime question: Should banks fear Amazon?

If nearly every banking executive knows just one thing about Amazon founder/CEO Jeff Bezos, it’s this: He’s relentless. Literally. Before settling on “Amazon,” Bezos wanted badly to name his nascent ecommerce site “Relentless.” While talked out of the idea, he still has a clear fondness for it. Go ahead: Click on relentless.com or enter it into your web Read More

By |2020-05-27T17:58:14-05:00November 29th, 2018|Comments Off on The prime question: Should banks fear Amazon?

Three digital transformation strategies that breed success

By and large, banks have mastered the delivery of basic digital services, with 81 percent of consumers using their banks’ channels in some form or other, according to Oracle’s New Digital Demand in Retail Banking survey. While customers report that they’re generally very satisfied with these basic services, their experiences with more complex banking services fall short. Read More

By |2020-10-29T11:35:36-05:00October 31st, 2018|Comments Off on Three digital transformation strategies that breed success

What good is your new digital banking product if it’s hard to use?

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

By |2020-05-27T17:58:16-05:00October 24th, 2018|Comments Off on What good is your new digital banking product if it’s hard to use?

How to strengthen strategic planning in the fintech age

That sound you’ve grown accustomed to—the grinding of dulled gears and the banking of humbled heads against office walls—is banking industry disruption wrought by technology moving faster than ever. A generation ago something revolutionary like Excel happened every few years. Today the “next wave” seems to be measured in days, especially when you factor in the juggernaut Read More

By |2020-05-27T17:58:16-05:00October 22nd, 2018|Comments Off on How to strengthen strategic planning in the fintech age

Security meets flexibility: A checklist for virtual desktop infrastructure

More than ever, businesses labors under an overwhelming number of data privacy and security regulations. And as these regulations grow and evolve—particularly in the financial sector—many institutions seek solutions that support standardization and consistency to support compliance. That’s where Virtual Desktop Infrastructure (VDI) comes in. But what is it, exactly?  At a high level, VDI provides a Read More

By |2020-05-27T17:58:32-05:00August 1st, 2018|Comments Off on Security meets flexibility: A checklist for virtual desktop infrastructure

Keeping customer data safe from abuse—and safe to use

Bankers hear the same advice again and again: Protect your customer data. Strike that. Replace “advice” with “imperative.” No, wait. “Urgent warning.” That’s more like it, given the tumultuous tenor of the times. Fretting experts opine about data safety. The countless news streams of Facebook CEO Mark “mea culpa” Zuckerberg in front of Congress scream it. And Read More

By |2020-05-27T17:58:33-05:00July 3rd, 2018|Comments Off on Keeping customer data safe from abuse—and safe to use

How open banking will reinvent U.S. banking

Its model informs every major market change on a global scale: In January, the Payment Services Directive 2 (PSD2) arrived in Europe, forcing European banks to open up their application program interfaces (APIs) for the first time to fintech and other financial companies. In March, open banking arrived in the United Kingdom thus signaling an inevitable reinvention Read More

By |2020-05-27T17:58:34-05:00June 28th, 2018|Comments Off on How open banking will reinvent U.S. banking

Why high tech and human touch should go hand in glove

Here’s to the artificial intelligence-driven bots that comb troves of consumer data, analyze the information and then reliably predict what a customer needs. But that’s only half the story. It takes the softer, intuitive human touch to convert those machine-crafted insights into a seamless, personalized customer experience.  It goes beyond the chatbot experience that some banks have Read More

By |2020-05-27T17:58:35-05:00May 7th, 2018|Comments Off on Why high tech and human touch should go hand in glove

For a former Amazon leader, data transparency in banking has clear advantages

The connections between Egyptian high priests, medieval bloodletters and 21st Century data scientists might seem extremely remote at best. But leave it to the former chief scientist at Amazon, Andreas Weigend, to make the connection. So hold on and follow Weigend’s compelling trip through financial time: “Who were the people who had wealth 3,000 years ago? It Read More

By |2020-05-27T17:58:36-05:00April 25th, 2018|Comments Off on For a former Amazon leader, data transparency in banking has clear advantages

Ability through agility: Using agile tech strategies to win the customer service race

It’s like zooming around a racetrack but making pit stops: For banks trying to meet rapidly changing expectations in the digital age, delivering simple, easy customer experiences requires speed and regular adjustments. It also requires learning the meaning and application of two jargon terms, not that banking isn’t rife with those already. (Current expected credit loss standard Read More

By |2020-05-27T17:58:36-05:00April 18th, 2018|Comments Off on Ability through agility: Using agile tech strategies to win the customer service race

Changing the score: How alternative lenders rethink FICO ratings

Not long ago, bankers tallied creditworthiness with a fat envelope full of papers they assessed over the course of weeks. Then electronic reports took hold, with the three major credit bureaus (Experian, Equifax and TransUnion) ruling the roost and brandishing that all-important FICO score. To borrow from FICO’s paradigm, its importance to borrowers might as well be Read More

By |2020-05-27T18:58:51-05:00April 13th, 2018|Comments Off on Changing the score: How alternative lenders rethink FICO ratings

Podcast: After two decades, internet banking continues to change

The Internet was in its nascent stages of public use in 1999--a time well before iPhones, apps and mobile banking. Yet a major initiative to take financial services into the cybersphere began that year with the founding of First Internet Bank. Why has that bank stood the test of time and where banks must focus in 2018 Read More

By |2020-05-27T17:58:41-05:00January 16th, 2018|Comments Off on Podcast: After two decades, internet banking continues to change