Banking 2020

NOVEMBER 27, 2015

These digital-heavy, mobile-savvy youngsters feel free to eschew brand loyalty and shop around for options on a whim, and the constant emergence of new technologies supports fickle habits. Some might be, but it turns out that the big winners, at least in this iteration, are actually local and community banks, registering a 5% migration.

Millennials 40

Millennials Survey social media Online 40

Banking 2020

JANUARY 29, 2016

Biometrics, contactless technology and social media hold promise, but there is not a straightforward way to create truly frictionless transactions. 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.

Payments 40

Payments social media Innovation Strategies ATM 40

Banking 2020

JUNE 11, 2015

EMV is intended to replace the magnetic stripe with a more secure chip-based technology. EMV technology will help reduce fraudulent payments, ultimately saving businesses lost revenue and decreasing the time spent fighting chargeback disputes. Ideally, once EMV is fully deployed, credit cards will no longer be “swiped”.

Cards 40

Cards Fraud System Security 40

Banking 2020

OCTOBER 8, 2015

On this blog we’re always looking at the intersection of financial services and technology, and that’s why this singular figure got our attention: $497 million. That’s how much just one institution has already made this year advising technology companies on financial services issues.

social media 40

social media Apple Industry Technology 40

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.

Millennials 58

Millennials Management How To social media 58

Banking 2020

FEBRUARY 25, 2015

As we’ve all been told time and again, these younger consumers drive new app development by being ultra-fickle: They switch between technologies—and by extension, between financial services providers—almost on a whim, loyalty be damned. They also have more disposable income, spend more online and could benefit more from technology assistance.

Online 40

Online Millennials Video Technology 40

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.

How To 40

How To Training Boston Millennials 40

Banking 2020

NOVEMBER 19, 2015

However, this probability could change over time as technology evolves.”. 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.

Security 40

Security Fraud Data Industry 40

Banking 2020

NOVEMBER 9, 2015

To be sure, many companies and industry groups in financial services have launched aggressive initiatives driven by APIs. Many companies, particularly on the technology side, are stepping up. While this kind of ‘coopetiton’ is old hat for the technology industry, it’s still uncomfortable for some in finance.

Industry 40

Industry Compliance Data Software 40

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. For one thing, regulators have been pushing banks to be simpler and more straightforward, so customers know where they stand. Technology magnifies the problem.

San Francisco 40

San Francisco Customer Experience FDIC Mobile 40

Banking 2020

JANUARY 21, 2016

To what extent are banks simply technology providers? It’s a question being discussed in boardrooms around the world as the financial sector grapples with advances in technology. There is an argument that by keeping all activity in-house there are fewer chances for this kind of integration problem happening.

Mobile 40

Mobile Payments Security Innovation 40

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

Mobile 40

Mobile Industry Millennials Survey 40

Banking 2020

FEBRUARY 1, 2016

While banking apps are still relatively novel and are seen as risky by some cautious consumers, the move to mobile banking is gaining momentum as people begin to understand the technology and security behind these apps. And once customers discover the ease and efficiency of mobile banking, it’s hard to go back to anything else.

Customer Experience 40

Customer Experience Online Mobile Digital Banking 40

Banking 2020

DECEMBER 16, 2014

There must be a marriage of financial content and experience with the new thinking and agility that will create of what banking will be in the future. The cynics will argue that this new hiring method won’t work for regulated financial services, or that people would rather go to a technology firm than a bank.

Leadership 52

Leadership Regional America Industry 52

Banking 2020

JANUARY 27, 2015

But the big question is: Are banks appropriately positioned to take advantage of these growth avenues? It’s a sprint and the banks need to show agility and foresightedness in their strategic positioning, operational planning and customer handling. Know what’s ‘inside the box’ but ‘think outside’.

Capital 40

Capital Management Operations Leadership 40

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

Innovation Missouri Kansas City Kansas 40

Banking 2020

MARCH 10, 2015

An example of an educational event that would help propel a bank’s growth would be hosting a business owner seminar focused on helping people understand the dynamics of their company through the lens of their financial statements. Streamline the loan decision process by investing in technology.

Community 40

Community Lending Capital Conference 40