Santander Group invests $40M in LendingClub founder's startup
American Banker
JUNE 17, 2020
Other challenger banks focused on consumer loans, including LendingClub, have struggled since the onset of the coronavirus pandemic.
How Ida Liu is bringing billionaires to Citi’s private bank
American Banker
OCTOBER 12, 2020
Liu, who is head of North America for Citi Private Bank, explains the changes she’s made to help her group attract and serve millennials, Gen Z, Asian Americans and families. The unit as of September had 20% more clients than a year earlier.
Millennials 
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Your Eyes are the Window to… Your Bank? Q&A with EyeVerify
Banking 2020
NOVEMBER 12, 2014
Eyeprint ID is already in market for consumers among 20 banks in Australia that are leveraging the digital banking platform provided by The System Works Group. Many banks are adopting EyeVerify to protect their internal employees phones using solutions from Good Technology and AirWatch. Source: WSJ.
System 101
101 Are You Defenseless Against This New Hack?
Banking 2020
DECEMBER 4, 2014
This Monday, security firm FireEye dropped a critical announcement : A group of highly sophisticated cybercriminals have spent the past year hijacking email correspondence between senior executives at publicly held healthcare-related organizations. Today we have FIN4, and it’s a very different world out there.
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Are You Defenseless Against This New Hack?
Banking 2020
DECEMBER 4, 2014
This Monday, security firm FireEye dropped a critical announcement : A group of highly sophisticated cybercriminals have spent the past year hijacking email correspondence between senior executives at publicly held healthcare-related organizations. Today we have FIN4, and it’s a very different world out there.
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Social network analysis for fraud detection in payments
Banking 2020
OCTOBER 14, 2015
“Unlike other analytical techniques like statistics that are based on the notion of independence of subjects, SNA can provide useful insight into large datasets along network, spatial and time dimensions based on the interconnectedness of the subjects being analysed,” notes a CGI Group paper on the topic.
Analysis 40
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EMV Liability Shift: Are You Ready?
Banking 2020
SEPTEMBER 28, 2015
Mercator Advisory Group said in a recent report that the lack of enthusiasm for EMV in the payments industry meant progress towards compliance has slowed in 2015 as issuers and merchants deal with a range of technical, logistical, and educational challenges. until 2020. . until 2020. Just how ready the U.S.
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How To Manage Millennials
Banking 2020
DECEMBER 15, 2014
Effectively leading millennials requires understanding the collective experiences, values and motivators that make this group “tick.” Millennials, generally defined as the demographic cohort born between 1982 and the early 2000s, will account for half of the American workforce by 2020.
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Omni-channel innovation, not supplier contraction, critical to banking growth
Banking 2020
OCTOBER 23, 2015
This acquisition does nothing to address gaps both firms share – especially in digital banking and payments software capabilities. The banking industry today sits on the precipice of change, as banks still face an unprecedented compression in profitability.
Innovation 40
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Winning the Customer
Banking 2020
NOVEMBER 27, 2015
Again, this is a generation that goes against traditional concepts of brand loyalty: These individuals turn away from their primary financial services provider at nearly double the average rate of other age groups. Meanwhile, the large regional or national banks are the biggest losers, saying sayonara to 16% in this customer age group.
Millennials 40
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Can faster payments outrun fraud?
Banking 2020
SEPTEMBER 15, 2015
is growing closer to becoming a reality with the formation of a Board Advisory Group that will help NACHA realize its plans to create faster and more secure payments that meet the needs of banking institutions, merchants and many others. Payment security and speed go hand in hand, according to the Federal Reserve and NACHA.
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By the Numbers: Biggest Pain Points in Customer Service
Banking 2020
JUNE 4, 2015
Allowed to pick up to two options, consumers cited the following three as the biggest pain points: According to the report, the research also yielded insights across industries and consumer demographics such as age, gender, and income groups.
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How coronavirus pivot helped this British fintech land PNC
American Banker
JUNE 5, 2020
The challenger bank OakNorth has been peddling its lending platform to U.S. banks for a year. When it saw COVID-19 on the horizon, it retooled to include a ratings system predicting how borrowers will be affected by the pandemic.
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77 FI Highlight: Truliant Federal Credit Union
Banking 2020
JULY 1, 2015
In the 1990s, we opened our field of member-ownership to various groups and companies, which prompted our name change to Truliant in 1999 to better reflect our growing and diversified membership. Today, we serve more than 180,000 member-owners with assets nearing $1.6 Today, we serve more than 180,000 member-owners with assets nearing $1.6
EMV is Here: Tips & Tricks You Need to Know
Banking 2020
OCTOBER 7, 2015
Whether you have gotten your card or not, here are some tips from Carolyn Balfany , Group Head for U.S. The EMV (Europay, MasterCard, Visa) shift went into effect on October 1, 2015 and a majority of large retailers and merchants have upgraded POS terminals to accept EMV chip cards.
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40 Branch Transformation: Innovating to be Nimble
Banking 2020
FEBRUARY 1, 2016
Josh also serves as the Executive Director of Lead Business Advisors, a division of Lead Bank that advises companies on strategic planning, reorganizations and financing as well as the Executive Director of Lead Ventures, an early stage investment group.
Innovation 40
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New Survey Finds Millennials are Unprepared for Retirement
Banking 2020
JULY 8, 2015
The IALC survey shows that 52% of millennials—more than any other age group—are interested in annuities. Most millennials think 401(k) when they think retirement, but with 401(k) plans becoming less fruitful, pensions dwindling and social security become less “secure,” they are looking to other options.
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40 BNP Paribas trials seamless payment displays
Banking 2020
JANUARY 29, 2016
It has teamed up with digital signage group Think&Go to enable customers to make tap-and-go transactions in places like shopping centres and train stations. “This initiative is part of the innovation strategy of BNP Paribas, the bank for a changing world.
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3 Ways to Woo Your Customers
Banking 2020
JULY 23, 2015
Whether moderating a group or taking a survey to get a better understanding of a person’s assets, it’s important to remember that it’s not about asking a ton of questions. Men and women who feel a genuine connection will share much more than those who don’t. And, the more they share, the more you learn.
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Cash or card: How do you pay for Christmas?
Banking 2020
DECEMBER 17, 2015
That’s very good,” says Ronit Rogoszinski, wealth advisor at Arch Financial Group. . “Paying with cash or debit means people definitely have changed their priorities. They’re going to buy what they can afford and no more.
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FI Highlight: America First Credit Union
Banking 2020
NOVEMBER 23, 2015
This year the credit union presented $10,000 to each group at an event on November 17 th. Each year the credit union holds a special event to present representatives from each of these organizations with a donation to support their efforts. Yes, it is important, we take every opportunity to assist in the classroom.
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Biometric security not all it’s cracked up to be?
Banking 2020
NOVEMBER 19, 2015
The US government is taking this seriously and has commissioned an interagency working group, including the FBI and members of the intelligence community, to review the potential ways fingerprint data could be misused. In a statement , the OPM said: “Federal experts believe that, as of now, the ability to misuse fingerprint data is limited.
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Contactless cards: Opt-in or opt-out?
Banking 2020
NOVEMBER 18, 2015
In the case of contactless cards, we can let the figures do the talking: Australia leads the way for contactless usage, according to research by RFi Group , with 53 per cent of adults having made a tap-and-go transaction. This places the country top of the table and ahead of leading lights like the UK and Singapore.
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40 5 Tips to Help You Better Understand Your Financial Customers
Banking 2020
SEPTEMBER 22, 2015
Through in-depth interviews, group discussions, online forums, and other qualitative methods, you can learn more about who your customers are, what they want, and how you can best deliver what they need.
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40 The Future for Banking Isn’t Online: Emphasizing the Digital Customer Experience
Banking 2020
FEBRUARY 1, 2016
Similarly, they want a seamless, omnichannel banking experience: a customer using her smartphone app should be able to find and complete the same loan application she started online. Speed is also key; the point of an app is to allow busy people to do their banking on the move. But bank apps are often clunky and slow.
Open to Change: The API Factor
Banking 2020
NOVEMBER 9, 2015
To be sure, many companies and industry groups in financial services have launched aggressive initiatives driven by APIs. When we talk about APIs, we mostly mean open APIs. And for an industry built on the twin foundations of confidentiality and compliance, that’s one gigantic giant issue.
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40 Banking on a Prayer
Banking 2020
APRIL 14, 2015
The author has his own consulting practice specifically in this field, and previously ran Islamic finance groups at the conglomerates Deutsche Bank and Barclays. The other book is ‘God’s Bankers: A History of Money and Power at the Vatican,’ authored by veteran investigative reporter Gerald Posner.
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What Should a Bank Sound Like?
Banking 2020
MARCH 17, 2015
In the digital world, though, banks are now competing against a growing group of non-traditional providers like PayPal or Venmo. The personal touch matters, now more than ever. There was a time when consumers knew tellers and loan officers as real people.
What Does 2015 Bring for EMV and Payments?
Banking 2020
FEBRUARY 26, 2015
In his current position as President, Cardtek USA, Mr. Inonu heads the American division of Cardtek Group and oversees operations, sales, marketing and partner management. Gokhan Inonu is a global leader with over 25 years of experience in EMV migration and financial transactions leadership roles.
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New Tech for Old Folks
Banking 2020
FEBRUARY 25, 2015
Census brief, the seniors’ age group has become the largest in terms of size and percent of the population in the U.S. In fact, it may be one of the most important paths to success. Consider the numbers. The first Baby Boomer turned 65 more than four years ago; today, according to a 2010 U.S.
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FI Highlight: Nusenda Credit Union
Banking 2020
SEPTEMBER 1, 2015
After each year’s program, surveys and focus groups are offered to all employees. Since inception of our wellness program, we have saved the organization over $140,000 in health care expenses through provider discounts awarded upon renewal and throughout the year. What feedback have you received from employees on these programs?
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Even in pandemic, small banks forge ahead with core conversions
American Banker
SEPTEMBER 3, 2020
Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems.
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41 Which route for mobile payment apps?
Banking 2020
JANUARY 21, 2016
Dr Bill Curtis, chief scientist at software analysis group CAST, said: “Badly-constructed software won’t just cause systems to crash, corrupt data, and make recovery difficult, but also leaves numerous security holes.”. However, poor coding practices can happen in either scenario.
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40 5 Big Ways Mobile Banking has Changed the Industry
Banking 2020
FEBRUARY 9, 2016
Smartphones and tablets are central to Millennials’ “on-demand” lifestyle, making the mobile banking adoption rate for this group a whopping 46.6 Globally, the millennial population looks to do their banking through a mobile app. Over 43 percent do it online via their bank’s website, while only 7.8
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Q&A: What Search Engine Optimization Can Offer the Financial Services Industry
Banking 2020
AUGUST 24, 2015
Sabrina Sexton, Group Product Manager, Consumer Relationship Solutions, Digital Insight. Thank you so much again for your time today. We’re really looking forward to having you present more about search at Digital Insight’s Innovation Conference in October.
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40 Q&A: What SEO Can Offer the Financial Services Industry
Banking 2020
AUGUST 18, 2015
Sabrina Sexton, Group Product Manager, Consumer Relationship Solutions, Digital Insight leads a portfolio of solutions focused on helping Digital Insight’s clients drive more effective customer acquisition efforts and nurture deeper relationships to gain greater share of wallet. Thank you so much again for your time today.
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Expanding the Banking Talent Pool
Banking 2020
DECEMBER 16, 2014
Obvious examples include functions like technology, data, security, finance; and business groups like payments, fintech and retail banking. The key is to identify functions or businesses where attraction and qualification are more likely to use those as the entry points for new types of talent.
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52 The 10 Commandments of Payment Security
Banking 2020
AUGUST 11, 2015
Browsers are inherently less safe than a secure app, so it pays to access your mobile banking services via the app and not through the browser. Even then, however, consumers must be vigilant and not assume the app will be 100 per cent secure.
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New But Not Yet Normal: Can Agility Make the Difference?
Banking 2020
JANUARY 27, 2015
With corporates keen on value based models through centralization and standardization, banking solutions around shared services centers/payment factories facilitating centralized control over group-wide working capital as transformational themes are increasingly being pushed to banks as a hygiene requirement than something customized.
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USAA sues PNC over mobile check deposit technology
American Banker
OCTOBER 2, 2020
The lawsuit follows two successful USAA suits against Wells Fargo that claimed infringement of patents.
Technology 40
40 Traditional Banks v. Alternative Lenders: How Goliath Can Beat David
Banking 2020
MARCH 10, 2015
Banks could reverse engineer this strategy, and have their local branches act like independent small businesses. Imagine a branch where you enjoy the benefits of a traditional bank loan, at affordable rates, serviced by a group you trust. The difference is, they now also have a price advantage.
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EMV Chip Cards: It’s Time to Educate Your Small Business Customers
Banking 2020
JUNE 11, 2015
In fact, according to the Aite Group , Canada realized a 133 percent increase in CNP fraudulent payments as EMV was introduced in 2008. With that being said, many industry research groups project complete EMV readiness will not happen until after 2018. Patrick O’Boyle is a founding Partner of MSP Consulting.
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How to Serve Smaller Businesses for Bigger Profit
Banking 2020
OCTOBER 20, 2015
Traditional business banking services for larger companies have been a profitability mainstay for many financial institutions, but this typically isn’t the case for the small-business segment. In this diverse group, the profitability challenges include price sensitivity in general and an aversion to fees overall.
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40 4 Ways Global Transaction Banking is Changing
Banking 2020
JUNE 2, 2015
Last year, 2014, could be described as the transition year for transaction banking, seeing the recovery from the financial crisis and the promise of a strong future growth. Transaction banking revenue pools have been growing rapidly year-on-year for the last five years.
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