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The Customer Experience: 14 Ways To Better Understand Your Bank Customer

South State Correspondent

The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.

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The Customer Experience: 14 Ways To Better Understand Your Bank Customer

South State Correspondent

The reality is that banks don’t think from the customer’s perspective enough. The customer experience is horrible for many bank processes. Not understanding your customer can lead to a brand and products misaligned with the customer’s needs resulting in an erosion of a bank’s competitive position.

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How to Win Small Business Loans This Year

Abrigo

Another option is to make small business lending more efficient and borrower-friendly so that the financial institution can win, process, and manage more loans without big increases in staffing or other expenses. Learn more about how to recover market share with small business lending. How to Win Small Business Loans This Year.

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Fostering FinTech-FI Trust With Data-Driven Security

PYMNTS

Open banking provides opportunities such as upgraded customer convenience and customized financial solutions that can help consumers access bank account details, send payments, manage their budgets and more. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

Security 174
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Opportunities in Partnership: Community Banks Can Benefit from Today’s FinTechs

Independent Banker

However, data from PwC shows that community banks are finding complementary partnerships that evolve their operations and the service they provide customers. Over the next 3-5 years, 82% of financial institutions expect to increase their partnerships with FinTechs, with an average return on investment of 20%.

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How to navigate payments trends

Independent Banker

The financial services industry is acting on this digital demand, incorporating fintech solutions, instant payments offerings and crypto banking products. For example, enabled by application programming interfaces (APIs), many community banks are embracing fintech solutions. The customer drives everything,” Laverdure says.

Trends 91
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Who Owns Digital? Ugh, That’s the Problem for Bankers

Gonzobanker

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. The bottom line is this: most banks lack the true management leadership and operating disciplines necessary to execute successfully on digital.