A 'prophet' reveals 5 tips FIs can use to create great customer experiences

Payments Dive

At the Bank Customer Experience Summit this week in Chicago, retail authority Doug Stephens highlighted shifts in demographics, technology and media that are completely transforming the consumer landscape — and the very essence of retail banking

Fifth Third Bank to Add 100+ Branches to Improve Customer Experience

Bank Innovation

For Fifth Third Bank, customer service is not just about digital transformation. The bank also wants to expand its physical retail branch footprint, according to its president and CEO, Greg Carmichael. billion acquisition of Chicago-based MB Financial Inc., Commerce Exclusive Experience & Design? Operations Premium Retail Bank of America Fifth Third MB Financial Bank Umpqua Bank

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How Can Real-Time Decisions Improve the Customer Experience?

PYMNTS

With so much data available, is your organization harnessing it in the most efficient way in order to truly reap all the benefits of big data including driving innovation and improving the customer experience? Not only do real-time analytics improve the customer experience, but they also provide more consistent and compliant operations — just in time as the regulatory requirements of many services and industries are increasing.

How Experiential Retail Is Giving Physical Stores An Edge

PYMNTS

As 2020 unfolds, the retail business has been dramatically altered. But with consumer spending holding steady, it’s important for retailers to grasp the opportunity to create innovative ways to get, keep and grow customers. But retailers don’t have to go that far.

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Post-Toys R Us, Retailers Vie For Experiential Toy Shoppers

PYMNTS

Retailers are doubling down on toys amid a gap in the market left by the bankruptcy of Toys R Us. toy retailer Hamleys , for instance, is eyeing a potential New York City location for a flagship store. A source close to the matter told CNBC that the retailer is nearing a deal for a space at 2 Herald Square that would encompass approximately 30,000 square feet. In addition, the store was to offer a kid-focused grocery shopping experience as well as magic shows.

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Schack: Expanded BMO Harris Innovation Program Casts Wider Net for Ideas

Bank Innovation

The Chicago-based bank is accepting applications from fintech startups for the 2019 BMO Harris/1871 Innovation Program through the end of the day today. Capital Exclusive Experience & Design? Premium Retail Startups accelerators bmo harris customer experience fintech partnershipsBMO Harris Bank is expanding the scope of its in-house accelerator from a local to a national program.

Retail banking execs learn new ways to woo, wow and win customers at the 2016 BCX Summit

Payments Dive

This fall, retail financial services executives from the US and beyond convened at the Bank Customer Experience Summit in Chicago to learn more about the latest banking trends and the customer attitudes driving them. But it wasn't all work, as our highlights video proves

Retail Goes Remote

PYMNTS

It’s what’s turned the retail word upside down as consumers with their mobile devices have decided they’d rather buy from their couch with their mobile phone than schlep to the mall. That’s the conversation that Mike Lawlor, Chief Services Officer at USA Technologies , and Karen Webster had recently, where they kicked around the notion of “remote retail” as a new way to frame the unattended or vending segment. In other words, kick the door wide open to remote retail.

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What's the future for bank branches?

ATM Marketplace

The future of bank branches will be interesting, according to Stephen K Griffin, SVP and director of the Retail Distribution Planning Group at Regions Bank. Griffin shared his insights in an opening keynote at the Bank Customer Experience Summit held in Chicago from Aug.

2019: The Year Of Retailer And Delivery App Collaborations

PYMNTS

This year, apps aimed to make it easier and more convenient for consumers to order their favorite foods and sundries, with restaurants and other retailers tapping into delivery. To help bring these options to more consumers, retailers and technology companies decided to join forces.

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Wall Street Woes Take The Retailer’s Eye Off The Customer

PYMNTS

And several of them are affecting the retail industry. And judging from the continuing proliferation of videos on social media, the ability for retailers to enforce even the minimum safety standards of mask-wearing is risky business for employees.

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Retail Pulse: Starbucks Opens NYC Roastery; Amazon Eyes London For Amazon Go

PYMNTS

Retailers are bringing experiential stores to big cities, and Starbucks is no exception: The coffee chain was set to open its Starbucks Reserve Roastery New York City on Friday (Dec. Customers can order traditional espresso beverages like cortados and lattes as well as more specialty offerings like sparkling citrus espresso and nitro hopped apricot cold brew, among specials that rotate, from baristas that Starbucks refers to as “coffee masters.”

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Neiman Marcus Builds ‘Multi-Level Retail Experience’ Amid Luxury Transformation

PYMNTS

Luxury department store retailers are combining digital shopping technology with dining experiences in their latest locations as part of their overall innovation plans. Neiman Marcus is gearing up to open what it describes as a “multi-level retail experience” at a new development in Manhattan. The move comes as the retailer is looking to build a luxury platform — and recently appointed two executives to lead its customer and store strategies.

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Big Retail Problems, Small Format Solution?

PYMNTS

With traditional brick-and-mortar retail facing big problems , some chains are addressing them with small solutions. Is this a viable answer to the beating that Sears’ bottom line (and that of many other one-time stalwarts of brick-and-mortar retail) have been taking in recent years? Leena Munjal, senior vice president of customer experience and integrated retail at Sears, told the outlet: “Obviously, we want to move the needle.

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Pizza Goes High-Tech

PYMNTS

But then again, New Yorkers take pizza unusually seriously, a fact former Daily Show host — and proud New York style pizza fan — Jon Stewart proved during 3:32 minutes of pure unadulterated hatred for Chicago-style pizza. As you can imagine, the entire city of Chicago responded — mostly on Twitter, with several suggesting various colorful things Jon Stewart could do with his thin-crust pizza that cannot even be edited into appropriateness for publication. It’s the weekend.

[Podcast] What If? So What? Episode 2: What If I Convinced The CEO To Embrace Design?

Perficient

Yet the experience of using it is as much of the design as the product itself. podcast , host Jim Hertzeld interviews Chris Bernard, VP of User Experience and Design at CDK Global and asks “What would happen if we convinced the CEO to embrace design?”

Retail banking execs learn new ways to woo, wow and win customers at the 2016 BCX Summit

ATM Marketplace

This fall, retail financial services executives from the US and beyond convened at the Bank Customer Experience Summit in Chicago to learn more about the latest banking trends and the customer attitudes driving them. But it wasn't all work, as our highlights video proves

5 ways FIs can create 'remarkable experiences'

ATM Marketplace

At the Bank Customer Experience Summit this week in Chicago, retail authority Doug Stephens highlighted shifts in demographics, technology and media that are completely transforming the consumer landscape — and the very essence of retail banking

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

CB Insights

Stripe’s early success in acquiring customers was largely due to its mass appeal to the developer community. Early customer acquisition came in large part from the buy-in of online developer communities like Github and Stack Exchange. On top of that, customers saw an average of 6.7%

Walgreens Brings Mobile Technology To Stores

PYMNTS

To help improve the productivity of workers and enrich the customer experience, Walgreens is tapping into mobile technology as it bridges the digital and brick-and-mortar store experiences. Walgreens Chief Information Officer and Senior Vice President Steve Turner said in the announcement, “Every customer has a unique need when shopping, so each experience needs to be personalized for it to be successful.

Express Inc. Net Sales Drop 53 Pct Amid Pandemic

PYMNTS

reported “continued momentum” with its The EXPRESSway Forward long-term strategy, as a phased reopening of retail locations started on May 1. The retailer, however, reported that consolidated net sales dropped 53 percent to $210.3

Grocery Round-Up: SNAP’s Delivery Expansion, Amazon’s No Charge Pick-ups And The Store Building Binge

PYMNTS

A lot of moves, and a lot of moves, as the shopping season begins and the race to be the customer favorite for groceries however, whenever, feels like it's going a bit faster everyday. grocery retailers for in-store pickup, curbside pickup and home delivery, respectively.

ATM Marketplace: September Top 5

ATM Marketplace

First, September rolled around, then the school buses, then the sixth annual Bank Customer Experience Summit in Chicago, where bank executives and subject matter experts discussed trends and technologies driving change in retail banking.

Taking The Convenience Store Uptown, Upscale And Omnichannel

PYMNTS

But Foxtrot, a small company out of Chicago, is reinventing convenience store retail and taking it uptown. Foxtrot is also slated to open its eighth location in Chicago to bring its total to 12 locations across three markets (Chicago, Dallas and Washington, D.C.),

Taking The Convenience Store Uptown And Upscale

PYMNTS

But Foxtrot, a small company out of Chicago, is reinventing convenience store retail and taking it uptown. Foxtrot is also slated to open its eighth location in Chicago to bring its total to 12 locations across three markets (Chicago, Dallas and Washington, D.C.),

Kroger And Walgreens Expand Pilot To Include Kroger Express, Home Chef Kits

PYMNTS

and Walgreens announced Tuesday (December 4) that the two are expanding a pilot announced in October to introduce Kroger Express and Home Chef retail meal kits. We are redefining the customer experience in a variety of ways through Restock Kroger, including innovative partnerships like our test-and-learn pilot with Walgreens. Separately, Kroger announced that Home Chef Express meal kits are now in 65 Walgreens locations in the Chicago area. The Kroger Co.

Farmer’s Fridge On The Importance Of Digital Upgrades

PYMNTS

cities, including Chicago, Milwaukee, New York City and Philadelphia, and it plans to expand to additional locations. Focusing On Customer Service. Saunders said deep knowledge of customers’ behaviors allows the company to alter its products as needed and offer personalized discounts.

The New Playbook: 6 E-commerce Cos Reinventing Brick-and-Mortar Retail

CB Insights

The most potent symbol of the ascendance of e-commerce and downfall of physical retail is, of course, Amazon. 15-Min Flash briefing: Can AI Save Physical retail? Learn how Walmart, Amazon, Sephora, Zara, and other retailers are using AI to reinvent the brick-and-mortar store. Physical retail was dead, and e-commerce, for all intents and purposes, was dancing on its grave. Why physical retail still matters. Redesigning & digitizing the optical experience.

Marks & Spencer Teams Up With Microsoft For AI Tech

PYMNTS

Through their strategic partnership, the companies will experiment with the integration of Microsoft AI technologies into M&S stores, as well as the retailer’s broader operations, retail news source Chain Store Age reported. “We We want to be at the forefront of driving value into the customer experience using the power of technology,” Marks & Spencer CEO Steve Rowe said in a statement.

Nordstrom Partners With Casper For Latest Pop-Up Store

PYMNTS

Sleep and wellness is such an important part of our lives, and we wanted to create a unique destination devoted to helping our customer find everything they need to achieve the best rest and relaxation possible,” Olivia Kim, Nordstrom vice president of creative projects, said in a press release. In partnership with Nordstrom, we’re able to bring better sleep to even more people through the Pop-In@Nordstrom innovative retail experience.”.

QSR Ordering Kiosks Evolved From A 1980s Solution For Out-Of-Stock Shoes

PYMNTS

Kiosk Meets Retail. A few years after the introduction of Lappe’s kiosk, the Florsheim Shoe Company decided to bring self-service kiosks into its retail stores. Through the kiosks , customers could also view different styles on a video screen, while the machine would literally talk to customers and sell them on the features of different shoes. And the Chicago Tribune noted in 1987 that other retailers such as Levi Strauss & Co.

Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

billion, on an 82 percent increase in retail sales. During the year, we delivered more cars to our customers than we had in our entire prior history combined, but it isn’t just the percentage growth that is noteworthy. Retail car sales Carvana ecommerce News Shop Talk

More Than 70 Percent Of Consumers Have Used Self-Checkout In Grocers

PYMNTS

When they’re finished picking out their selections, customers scan their phones at a checkout station, which digitally submits their payment, and exit. As of Q2 2018, 95 percent of American consumers had encountered at least one form of self-service retail, and 49 percent used them on a weekly basis at the supermarket, according to the PYMNTS Self-Service Kiosk Report. app allows customers to use their phones to scan items as they shop and check out directly through the app.

Why Libraries Are Giving Up On Late Fees

PYMNTS

This week, Chicago became the largest metro area to officially say no to library fines – joining St. Because libraries need customers to keep coming in – and they have been finding out in recent years that a late fee and a disapproving librarian create a very bad customer experience … but one that is pretty easily rectified. The customer who doesn’t trust herself to return a library book – or the process of being fined for it – will start avoiding the library.

‘Buy Now Pay Later’ Breaks Through

PYMNTS

BNPL is a thoroughly mobile experience that completes the retail trifecta: less expensive, easy to use and totally portable. cities (LA, Chicago, Brooklyn, Houston, Philadelphia) seeing the greatest action. Millennials and Gen Yers are notoriously distrustful of credit.