Cisco

MAY 29, 2019

In retail banking, it’s clear customer experience matters, and the stakes have never been higher. Study after study confirms the importance of providing personalized, integrated experiences for satisfaction and retention of financial services customers. Ultimately, customers want to be known and valued.

Customer Experience 72

Customer Experience Retail San Diego Study 72

BankInovation

AUGUST 4, 2020

Customer satisfaction with online-only banks seems to have dwindled as a result of the COVID-19 pandemic, according to a recent survey conducted by the Harris Poll. Community banks, credit unions and big banks, meanwhile, seem better poised to retain customers compared to their digitally native counterparts.

Online 96

Online Community Bank Survey Community 96

CB Insights

JANUARY 5, 2021

High fees, poor customer experiences, and archaic technology have historically blocked many from accessing financial services. . get the state of challenger banks report. The dominance of physical banking has waned over the past 2 decades. The digital divide spans countries as well. Source: PwC.

Digital Banking 98

Digital Banking US Online FDIC 98

Cisco

MAY 29, 2019

In retail banking, it’s clear customer experience matters, and the stakes have never been higher. Study after study confirms the importance of providing personalized, integrated experiences for satisfaction and retention of financial services customers. Ultimately, customers want to be known and valued.

Customer Experience 48

Customer Experience Retail San Diego Study 48

Accenture

MAY 7, 2019

What they are specifically discussing is the Revolut account and how impressed they are with the overall customer experience and features (I’m paraphrasing a bit). As of December 2018, Revolut had 200,000 Irish customers , an increase of fourfold in just over a year. The Know-Your-Customer (KYC) conundrum.

Customer Experience 178

Customer Experience Online Millennials social media 178

PYMNTS

JANUARY 14, 2021

Restrictions on in-branch interaction are now causing financial institutions (FIs) to better engage with consumers and offer personalized banking experiences with mobile apps, online chat and contextual video content. One-third are very interested in using it for learning purposes, as well.

Video 224

Video social media Millennials Data 224

Cisco

APRIL 12, 2022

According to PwC’s 2021 Digital Banking Consumer Survey, two in three customers find branches to be meaningful channel to interact with their bank and 35% say that they would not use a bank that doesn’t have a nearby location. This is where Cisco technology can help. Empower the branch. No latte needed.

America 109

America Customer Experience Operations Survey 109

PYMNTS

JUNE 29, 2020

Consumers are leaning heavily on digital banking tools during the pandemic, and studies suggest that they will continue to do so in its wake. Fifty-seven percent of consumers now prefer internet banking solutions, compared to the 49 percent who said the same prior to the pandemic. Mobile Customers Need Mobile Infrastructure.

Mobile 174

Mobile Digital Banking System Innovation 174

PYMNTS

DECEMBER 28, 2020

Developments From The World Of Digital-First Banking. The total number of banks in the U.S. declined by 7 percent over the past five years, for example, and some credit unions are also reportedly considering more physical branch shutdowns as their members move online.

ATM 182

ATM Meeting United States Industry 182

PYMNTS

JANUARY 19, 2021

That simply won’t fly in the digital-first decade. Researchers found that FIs offering “innovative options such as interactive and contextually relevant video content stand to improve engagement and customer experience, especially among younger generations like bridge millennials and millennials.”.

Study 196

Study social media Millennials Retail 196

PYMNTS

JULY 18, 2017

In a survey held from the end of June into early July and conducted by SurveyMonkey , the web-based survey firm queried more than 1,000 adults above the age of 18, 290 of which were defined as 18- to 34-year-olds: millennials. Venmo remains a distant second, at 11 percent, with even greater adoption among millennials at 30 percent.

Millennials 144

Millennials social media Survey Online 144

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. This means banks need to carefully consider how to maximize their defense strategies while presenting minimal interruption to customers and enabling secure, smooth engagement.

Security 147

Security Fraud Survey Customer Experience 147

Gonzobanker

JULY 20, 2022

Bank executives are coming to understand that in today’s world, the customer experience (CX) is the product, although not all have made a serious commitment to address newfound competition. Experience design is a specific skillset that is needed to steer the execution of a bank’s digital strategy.

Digital Strategies 174

Digital Strategies Strategy Leadership Customer Experience 174

Abrigo

OCTOBER 21, 2019

The mission of the institution plays a significant role in employee satisfaction, as well as customer satisfaction, McBay explained. Southern States Bank has focused on creating a positive employee experience to create a positive customer experience. Technology, like banking, isn’t “one-size-fits-all.”

Oklahoma 218

Oklahoma Millennials Innovation Technology 218

Gonzobanker

FEBRUARY 19, 2020

Fintechs can provide better design capabilities, improved customer experience, research states. In What’s Going On In Banking 2020: Outlook for a New Decade , 65% of banks and 76% of credit unions say these partnerships will be an important part of their business strategies this year.

Strategy 123

Strategy Fintech Study Customer Experience 123

NCR

MARCH 22, 2017

And while digital services like mobile apps and online payments are a must, banks also need to rethink the most traditional elements of their business: visits to a brick-and-mortar bank branch. As the first true digital natives, millennials don’t separate their online and offline lives. The result?

Millennials 49

Millennials Innovation Digital Banking Security 49

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98

Online Company Retail Payments 98

PYMNTS

OCTOBER 22, 2018

Despite the rise of FinTech firms and challenger banks hoping to offer small businesses (SMBs) a better banking experience, large traditional financial institutions (FIs) continue to hold the dominant position in the SMB financial services (FinServ) space.

Fintech 155

Fintech Maine Survey Regulation 155

PYMNTS

JANUARY 27, 2021

Banks’ use of such innovations is predicted to expand, too, with 60 percent of FIs saying they aim to gain customers and improve customer experiences using digital channels. This increased digital presence also brings a greater risk of digital fraud, however.

Security 213

Security Innovation Fraud Study 213

NCR

SEPTEMBER 28, 2016

Without even leaving the couch, customers can frequent their favorite stories online, perhaps even on their mobile device. How can banks ensure they’re providing up to date and pertinent information to their customers, particularly in the age of online and mobile? Encouraging Loyalty in the Digital Age.

Mobile 40

Mobile Online Survey Video 40

Gonzobanker

JULY 8, 2022

The operational world of cash, checks, deposit slips, passbooks, and teller terminals used to dominate bank tech budgets. Those were the days of green screen cores and server-based ancillary applications, and digital banking was a Star Trek thing of the future. 2: Talent Shortage. A national unemployment rate of 3.6%

Resources 146

Resources Leadership Technology Management 146

PYMNTS

FEBRUARY 4, 2019

To serve customers who want to shop in stores and online, retailers and solution providers are working to offer a unified retail experience across multiple channels. The finding was reported by Boston Retail Partners in its 20th annual POS/Customer Engagement Benchmark Survey.

Innovation 126

Innovation Retail Mobile Massachusetts 126

NCR

SEPTEMBER 27, 2017

In the recent ath Power Consumer Digital Banking Study , which surveyed some 3,000 retail banking customers, the majority (62 percent) of those who were current mobile banking users identified loyalty programs as an advanced feature that would interest them. Image credit: iStock/Rostislav_Sedlacek.

Mobile 90

Mobile Online Survey Customer Experience 90

FICO

AUGUST 23, 2021

To measure the impact of COVID-19 on digital transformation in financial services, FICO surveyed 14,000 consumers across 14 countries in 2021 to evaluate customer-willingness for digital account opening. Today, we’ll share the top-five takeaways from our NORAM survey results. However, the U.S.

Survey 52

Survey Groups Digital Banking Customer Experience 52

PYMNTS

APRIL 2, 2018

Consumers demand easy, digital banking, but this pressure for banks to deliver is also coming from corporate clients. Take mobile banking, which has propelled the introduction of mobile-only banks to meet demand for better services on smaller screens.

blockchain 171

blockchain Lending User Experience Mobile 171

ZootBlog

MARCH 29, 2016

It is well known that silos have long prevented banks from achieving the ideal customer experience, because they create a fragmented user experience. An executive from Ally Bank made an interesting observation at a recent industry conference. This is an opportunity for banks.”.

Fintech 60

Fintech Customer Experience Mobile Security 60

PYMNTS

AUGUST 21, 2018

Banks are consolidating their services and capabilities into fewer branch locations, meaning each individual branch is in a “stronger position” to service customers. The report did not survey small business owners about how they felt about being “forced” to open a bank branch, but another report from U.S.

Phoenix 100

Phoenix Survey Washington Trends 100

PYMNTS

MARCH 3, 2020

Mobile and online banking’s prevalence has reduced physical branches’ importance, but these brick-and-mortar establishments are still vital to customers’ financial lives. Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications.

ATM 151

ATM Fraud Study Regional 151

Accenture

JUNE 16, 2017

In my first blog of this series on our latest UK banking consumer survey— Beyond Digital —I explained why there’s still plenty of life in the bank branch, since even younger customers still value human interaction.

Millennials 186

Millennials Maine Study Security 186

PYMNTS

SEPTEMBER 6, 2016

Citing the 2014 North America Consumer Digital Banking Survey by Accenture, amazingly, 50 percent of people would use banking services from a Square app if they were offered one, and 41 percent would use banking services from PayPal. This is what connects a bank’s services with third parties.

Security 100

Security CA Payments Big Data 100

Accenture

JUNE 16, 2017

In my first blog of this series on our latest UK banking consumer survey— Beyond Digital —I explained why there’s still plenty of life in the bank branch, since even younger customers still value human interaction.

Millennials 150

Millennials Maine Study Security 150

PYMNTS

APRIL 1, 2019

In some ways, the average credit union customer is very much like the average customer of any financial institution. It doesn’t matter where you are banking, if you have a problem you want to be able to reach out at any time and get that problem solved,” Jack Lynch, chief risk officer at PSCU , told PYMNTS in a recent discussion.

Innovation 141

Innovation Fintech Fraud Security 141

ZootBlog

FEBRUARY 12, 2016

In fact, nearly 15 years ago I opened an ING account entirely online. Next, the customer service representative (CSR) validated information on the account. A recent survey conducted by J.D. Additionally, Bank of America plans to triple the budget for their digital banking initiatives in 2016.

Community Bank 63

Community Bank Community Technology ATM 63

PYMNTS

NOVEMBER 28, 2016

But today, banks are struggling to make these complex decisions because, in many branches, customers are nowhere in sight. Accenture’s 2016 North America Consumer Digital Payments Survey revealed that 66 percent of consumers characterize their relationship with their primary financial institution as purely transactional.

Mobile 100

Mobile Study Payments America 100

PYMNTS

FEBRUARY 15, 2019

There is something of a strange dichotomy when one looks at the types of things bank brands are developing, particularly around mobile and digital banking services, and the kinds of things consumers say they want. That is the stuff that FIs are working overtime to move online, into mobile and into a more self-service model.

ATM 155

ATM Mobile Digital Banking Online 155

FICO

JUNE 16, 2021

Pandemic lockdowns and social distancing pushed us online to discover how to do business with everyone from the local grocer, cafes, yoga teachers, furniture stores, pharmacies, and banks to name just a few. Our experience of these digital journeys varied enormously. Digital Consumers Unhappy With What Banks Deliver.

Analytics 52

Analytics Survey Cards Customer Experience 52

FICO

JANUARY 11, 2021

How can banks deliver unified experiences across multiple channels, with the right amount of friction, to navigate the fine line between fraud reduction and customer experience? Most commonly, customers are asked to mail in copies of identity documents or visit branches with them.

Fraud 52

Fraud Customer Experience Survey Mobile 52