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Banks, credit unions slip in customer satisfaction survey

American Banker

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.

Survey 73
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Deep Dive: How Payment Card Networks Win Merchants Over

PYMNTS

Debit cards secured with PINs came into wide use in the 1990s, and regional card networks often processed such payments at the time. This then prompted the Federal Reserve to decide in 2011 to restrict interchange fees on PIN debit cards to no more than $0.21

Cards 141
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How Singapore Is Fueling A ‘Smart Nation’

PYMNTS

Between 2011 and 2015, the government allocated $16 billion to help accelerate Singapore’s research, innovation and enterprise landscape. In a region where mobile phone penetration grew from 92.7 Startups are estimated to employ nearly 300,000 on the island nation. With an estimated population of just 5.47 A Knack For Mobile.

National 133
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Mortgage Tech 101: What It Is & Why It’s Taking Off Now

CB Insights

In 2011, three banks accounted for half of new mortgage loans, according to the Washington Post. In 2011, just two of the top 10 biggest lenders were non-bank lenders. This helped navigate fragmented regional regulations. Incumbents must make investments to improve the customer experience for new borrowers.

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Despite competing efforts from PayPal and others, the customer experience for businesses wanting to accept payments online can still involve difficult onboarding, complex integrations, and challenges around supporting multiple payment options. The board also includes: Sequoia Capital partner Michael Moritz (joined the board in 2011).

Online 98
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Innovation All the Time

Independent Banker

We look at what our customers expect from us as a bank, and what they expect from the industry,” he says. We’re not just competing with [megabanks and regional banks] or other community banks. Rockland Trust launched mobile banking and mobile deposit options in 2011, taking an early lead over many of its largest competitors.

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37 Corporate Innovation Labs In Finance

CB Insights

The lab aims to improve banking through better uses of technology and has a serious focus on customer participation as the best way to find solutions. It is also looking at integrating banking solutions into wearables and how the internet of things (IoT) could improve the customer experience. Founded: 2011. Founded: 2010.