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Measuring the ROI of digital marketing efforts is very complex, say bank marketing executives, and must be approached within a larger context of the institution’s overall marketing outreach.
Payments trends in 2016 will include accelerated competition in mobile wallets, more experimentation with blockchain technology and progress in faster payments.
Crossing selling effectively is difficult, as every banker knows, but following six key techniques can help you improve the odds.
As compliance pressures mount, banks are relying on their frontline employees to be more knowledgeable and disciplined about handling potential regulatory issues.
Yes, it is possible to transform older, inefficient branches into modern, profitable showcases for financial services.
Financial institutions need to make sure that their fraud detection technology and procedures keep pace with the customer demand for convenient online and mobile banking access.
When used appropriately, company intranets can save significant costs in document searching, employee training and paper handling.
As Know Your Customer and other regulatory requirements increasingly slow down the customer onboarding process, banks need to consider scalable and unified technology solutions.
It is possible for banks to become customer-centric if they combine the right mindset and culture with appropriate technologies on a connected platform.
Generational expert and BAI Retail Delivery 2015 speaker Cam Marston says bankers need to learn how to attract Millennials both as customers and as employees.
Former Coca-Cola chief marketer and upcoming BAI Retail Delivery 2015 speaker Joseph Tripodi says financial services companies can utilize digital media to turn customers into advocates.
Global trends expert and upcoming BAI Retail Delivery 2015 speaker Andrew Zolli says financial services companies can thrive amid disruptive change if they adhere to their values and continually embrace small innovations.
Barbara Corcoran, star of ABC’s hit show Shark Tank and upcoming speaker at BAI Retail Delivery 2015, says new project advocates need to incorporate ‘entertainment value’ into their pitches for funding.
The faceless nature of mobile and online banking does present unique risks for financial transactions.
There should be no confusion over which version of a document is being referenced for any business decision.
… expect to hear even more surprise announcements from retailers, tech companies and banks offering their own mobile wallet systems.
What banks need is a one- to two-page plan that is uniform across the bank, simple to create and easy to review.
… 62% of banks say poor customer service during onboarding is driving corporate clients to look at competing banks.
Connecting data around a customer entity provides the foundation for doing almost anything from a solution perspective …
… compliance officers with the greatest experience and track records are often hard to retain, especially on the frontline.
… it is likely better to err on the side of too much information, as it may prevent hunting down historical data in the future.
Video analytics and customer mobile data can help banks understand traffic patterns and interactions within the branch.
… the majority of U.S. households now use multiple methods to pay monthly bills.
... branches can now operate cost-effectively in a fraction of the space required previously.
… banks can share those APIs and work with external partners to co-create innovative new solutions that lead the industry.
Ultimately tap-and-pay may turn out to be a much more attractive option for consumers than dip-and-pay with EMV cards.
… a perfect storm of competition, technology, shifts in customer behavior and regulation will wreak havoc on the businesses we trust with our money.
IoT brings forth the possibilities of different business models to gain new revenue streams by collaborating with other industries.
It’s time for mobile banking to transform itself into a sales and consulting engine.