Sat.Aug 07, 2021 - Fri.Aug 13, 2021

article thumbnail

Delight customers with easy and invisible payment experiences

Accenture

In early 2020, when the COVID-19 pandemic shut down many everyday services, people discovered new ways of doing things—like grooming their pets or styling their own hair. Doing these things involved mainly online purchases. The way they made their regular purchases changed too—for example, getting their groceries delivered to their door or picking them up curbside.

Payments 506
article thumbnail

Using Personalization To Create Authentic Relationships in Insurance (Part 3 of 5)

Perficient

While the thought of changing policies can be daunting, carriers are throwing hundreds of millions (if not billions) into advertising budgets to make the consumer aware of ways to save by switching. As a result, the industry is experiencing a decline in brand loyalty in favor of pricing. A brand may bring a customer in the door, but pricing seals the deal.

Policies 294
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Independent Loan Review & Credit Risk Review System Objectives

Abrigo

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Would you like other articles on loan review in your inbox? Takeaway 1 A system for ongoing, independent credit risk review will not look the same from institution to institution. Takeaway 2 However, a loan review or credit risk review program should accomplish several key objectives.

System 195
article thumbnail

Boost Your Bottom Line by Changing the Conversation on CX

Jack Henry

Banks and credit unions have known for years that experience matters. We know that customers and members, particularly mobile-first digital natives like Millennials and Gen Z, expect the same speed and ease-of-use they experience with Instagram and Uber from their financial institutions. In the modern world, a digital offering can’t be viewed as simply a checklist item or a means to an end.

article thumbnail

Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

article thumbnail

Why banking’s ‘electric car moment’ will create new winners and losers

Accenture

No matter what they drive, bankers today should pay attention to the electric car space. It’s a striking example of how an innovator with a tech edge and strong sense of purpose can upend a mature industry and force incumbents to compete on their terms. When most incumbent automakers were still dismissing electric cars as a novelty, Tesla was positioning itself to create….

Examples 352

More Trending

article thumbnail

Market Commentary: Week of August 9, 2021

SWBC's LenderHub

Last Week. The volatility in rate markets last week was one for the ages. The week was a tale of two markets. The first was the continuation of the punishing rally that has burned shorts and frustrated yield chasers. At one point on Wednesday, the 10-year dropped ten basis points to 1.12% before reversing course and ending up unchanged for the day.

Marketing 148
article thumbnail

3 Ways Deposit Escrow Management Software Can Help You Drive Growth

Jack Henry

Constant economic changes, evolving customer expectations, emerging technology, and other market challenges have forced banks to be even more innovative in their strategies to achieve business goals. Building on – or expanding upon – commercial services like escrow management is often an untapped strategy. Many banks are still relying on siloed data systems and manual processes (including labor-intensive, error-prone spreadsheets) to track and add sub-accounts.

article thumbnail

How BNPL’s growth is forcing a high-stakes choice on UK banks

Accenture

Point-of-sale (POS) financing is one of the most interesting and dynamic areas of payments innovation today. Disruptive new entrants and macroeconomic trends are driving real change across the market. The ‘buy now, pay later’ (BNPL) sector is of particular interest here. The difference between BNPL and older POS credit offerings is that with BNPL the….

Trends 284
article thumbnail

How to tap marketing to boost your ATM presence

ATM Marketplace

When it comes to ATMs, most banks are fairly good at branding. Most post large signs and symbols that clearly communicate to customers that this is their ATMs. But when it comes to marketing, many banks fall behind. Here's how to catch up.

ATM 145
article thumbnail

The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

article thumbnail

Do large and small banks need different prudential rules?

BankUnderground

Austen Saunders and Matthew Willison. Banks come in different shapes and sizes. Do prudential regulations that work well for big banks work as well for small ones? To help us find out, we measure the effectiveness of some key regulatory ratios as predictors of bank failure. We do so using ‘receiver operating characteristic’ – or ‘ROC’ – analysis of simple threshold rules.

article thumbnail

Fannie Mae to consider rental payment history in underwriting decisions

CFPB Monitor

The Federal Housing Finance Agency announced this week that Fannie Mae will consider a loan applicant’s rental payment history in making underwriting decisions. According to the FHFA, the change was made as a means of expanding credit access. The FHFA’s announcement is yet another example of the growing use of alternative data by creditors in making credit decisions.

FDIC 103
article thumbnail

Three significant innovations leading banking accessibility

Accenture

In my previous post, I highlighted a few of the incredible innovations we saw during the Efma-Accenture Banking Innovation Awards in 2019. When we talk about awards, we often focus on those who win in their categories—but there are so many others that deserve attention for their contributions to our society. There are leaders to…. The post Three significant innovations leading banking accessibility appeared first on Accenture Banking Blog.

article thumbnail

Non-traditional branches: A new approach for a changing world

ATM Marketplace

The world has changed and with it consumer banking habits. How do financial institutions keep up with these changes while still offering their customers exceptional branch experiences?

139
139
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

article thumbnail

Bank of America: Client Interaction Now Mostly Digital

Banking Exchange

Approximately 85% of deposit transactions are made via digital or automated channels including the bank’s app Technology Lines of Business Retail Banking Financial Trends Customers Digital Mobile Tech Management Online Branch Technology/ATMs Feature3 Feature.

America 88
article thumbnail

Macquarie wades back into UK with majority stake in Southern Water

TheGuardian

Australian investment bank left Thames Water saddled with debt when it sold up in 2017 The Australian investment bank Macquarie has returned to the UK water industry – four and a half years after leaving Thames Water saddled with debt – buying a majority stake in Southern Water for more than £1bn. The infrastructure investor promised to put the utility firm “back on a stable footing” after it was fined a record £90m last month for dumping billions of litres of raw sewage off the north Kent and H

article thumbnail

The ticking timebomb of SCA enforcement for UK ecommerce

Accenture

While it’s no secret that the pandemic has supercharged digital payments adoption, the scale of the change in ecommerce is still breath-taking. Global ecommerce retail sales totalled $3.5 trillion in 2019. In 2021, they are forecast to reach almost $5 trillion. This represents a significant opportunity for the payments industry. The growth will also highlight some of the industry’s challenges.

Retail 221
article thumbnail

Big banks to share big insights at Bank Customer Experience Summit

ATM Marketplace

While it's been a tough past year for the banking world, many banks and financial institutions have also learned critical lessons. Several big banks will share what they learned to stay afloat and thrive during the Bank Customer Experience Summit being held Sept. 13 to 15 in Chicago.

article thumbnail

2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

article thumbnail

Argentina’s Uala valued at $2.45B after financing round

BankInovation

Argentine financial services startup Uala was valued at $2.45 billion in a financing round led by Japanese conglomerate SoftBank Group Corp. and Chinese Internet giant Tencent Holdings Ltd. Both companies are boosting their stake in the Buenos Aires-based firm through a $350 million series D financing round, along with early backers including the billionaire George […].

Groups 98
article thumbnail

UT Federal Credit Union (TN) Offers Competitive Rewards Checking

BankDeals

UT Federal Credit Union's U Rewards Checking account and U Rewards Cash Back account offer competitive rates and are available in five eastern Tennessee counties.

article thumbnail

Robinhood Acquired This Company For Its Shareholder Communications Platform

CB Insights

Robinhood , a financial services company, has acquired Say Technologies , a shareholder communication platform, for $140M. WHO ARE THE PARTIES TO THE DEAL? Say Technologies: California-based Say is a technological platform that gives shareholders access to their full ownership stake. It crowdsources retail investor queries and allows investors to communicate with firms that they own during annual meetings, earnings calls, and other events.

Company 101
article thumbnail

What is going on at the Co-op Bank’s call centres?

TheGuardian

I’m trying to pay someone £40 using telephone banking but I can’t get through to anyone Can you please ask the people at the Co-operative Bank what is going on at their call centres as it is currently impossible to get through to anyone on the phone? I have been using telephone banking with this bank for years but I have been holding on for up to an hour at a time over the last fortnight, in an attempt to pay someone £40.

article thumbnail

Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

article thumbnail

Watch: Zelle’s new ad campaign

BankInovation

Zelle, the person-to-person payments app utilized by leading banks and financial institutions, launched a new ad campaign on Thursday. The campaign aims to help participating institutions lure clients to the bank-agnostic app in an ongoing battle with its top competitor, PayPal subsidiary Venmo. “All banks on the Zelle network can promote its use to their […].

article thumbnail

OCC Chief Warns Banks Against ‘Complacency’

Banking Exchange

Acting comptroller Michael Hsu is urging bank leaders to be “especially vigilant” in the post-pandemic era Compliance Compliance Management Compliance/Regulatory Feature3 Feature.

article thumbnail

This Nubank–Backed Indian Neobank Raised $71M To Hire Talent

CB Insights

Jupiter, a neobanking startup, has raised $71M in a Series B. The round drew participation from NuBank, Beenext, Sequoia Capital India, Greyhound Capital, Tanglin Venture Partners, and Global Founders Capital, among others. How’s the company performing? India-based Jupiter has built a neobank for Indian consumers and created a number of products, including a savings account, with features aimed at making money management easier.

Capital 100
article thumbnail

Coming Soon: Nacha’s Meaningful Modernization Rule

CFPB Monitor

Last fall, Nacha finalized its Meaningful Modernization rule which provides for significant changes to the Nacha Operating Rules. According to Nacha, the amendments are intended to facilitate adoption of new ACH payments technologies, increase consistency for authorizations, reduce administrative burdens related to authorizations and provide additional flexibility for ACH Originators.

article thumbnail

Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.