Podcast: How to operationalize a bank
BankInovation
FEBRUARY 13, 2024
Financial institutions continue to spend on technology but many bank technology experiences are disjointed. To create more seamless digital experiences, banks […]
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How to Win Small Business Loans This Year
Abrigo
FEBRUARY 23, 2022
Indeed, the financial institutions surveyed most frequently identified the following as their top challenges in small business lending: Efficiency Process, operations, and staffing Competition Over half of the survey respondents cited efficiency as a challenge when it comes to small business lending. Knowing Your Customer.
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36 Hours at Fintech Meetup: Three Themes from the Las Vegas Event
Gonzobanker
MARCH 7, 2024
It happened this week: Fintech Meetup , one of the newer trade events that brought 4,000 or so fintech and banker types to Las Vegas. From panels to keynotes to hallways, here are a few things that caught my attention: AI: Next-gen customer experience? This shouldn’t be a new concept to bankers or entrepreneurs.
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Forging FinTech-FI Partnerships With mPOS?
PYMNTS
APRIL 12, 2019
But FinTechs and financial institutions are increasingly crafting partnerships designed to help them both thrive in this global world of digital payment and commerce. It used to be — at least according to common perception — that FinTechs and financial institutions were viewed almost as cats and dogs, as natural, even eternal antagonists.
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Fostering FinTech-FI Trust With Data-Driven Security
PYMNTS
JUNE 5, 2020
Providing robust services via mobile channels is especially important now, as the COVID-19 pandemic has caused businesses to operate remotely and consumers to stay at home as much as possible. Such vigilant security means FinTechs must vet new customers and continually review existing ones for changes in their money laundering risk, he said.
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For Banks, 2019 A Balancing Act Of FinTech And SMB Customer Service
PYMNTS
DECEMBER 28, 2018
One of the biggest shifts in banking that FinTech newcomers ushered into the market is the demand among customers for advisory services. bank branches in 2017 “reflects the industry’s ongoing evolution to serve customers more effectively while reducing operating costs.”. JLL research published last year found that the 2.2
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Insights and understanding – the key to customer experience?
NCR
SEPTEMBER 13, 2017
Customer experience and the relationships consumers have with their banks have never been more important. Fintechs are carving out their niche in the financial services industry by making the needs and expectations of the modern-day consumer their number one priority. How to improve your customer understanding.
Opportunities in Partnership: Community Banks Can Benefit from Today’s FinTechs
Independent Banker
DECEMBER 1, 2021
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%.
How to navigate payments trends
Independent Banker
AUGUST 31, 2021
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. In fact, 45% of U.S.
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How to maximize the chances of success in fintech collaboration
NCR
MARCH 9, 2018
Of the various trends and changes driving the financial services industry at the moment, one that has prompted a lot of discussion is the growing importance of collaboration between established financial institutions (FIs) and smaller, emerging service providers, most notably fintechs. Image: Rawpixel via iStock.
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Who Owns Digital? Ugh, That’s the Problem for Bankers
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. The bottom line is this: most banks lack the true management leadership and operating disciplines necessary to execute successfully on digital.
Partnerships Drive B2B Payments Digital Transition
PYMNTS
DECEMBER 28, 2020
And as FinTechs continue to challenge banks, but also offer new opportunities within the B2B space, they’re advancing a corollary to the build vs. buy question: How about partnerships? Drilling down a bit into those innovation efforts, he said, FinTechs and software companies, in general, are trying to become payment companies.
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How To Live Forever In The Financial Services Space
PYMNTS
AUGUST 10, 2017
It becomes embedded into a broad range of customer experiences. The emergence of FinTech operators has definitely thrown a fair amount of challenge to players like us. FinTech operators are very nimble. Money transfer and payments will become embedded into a range of customer experiences.
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136 What Can Banks Learn From The FinTechs?
Insights on Business
FEBRUARY 19, 2016
These firms collectively known as FinTechs or Financial Technology firms are disrupting the banking industry by dis-intermediating across a banking customer’s financial value chain. What can banks learn from the FinTechs? This will help maximize the impact and value for both topline growth and bottom-line optimization.
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The BaaS Gold Rush is On
Gonzobanker
FEBRUARY 23, 2022
However, if BaaS is ever going to enhance shareholder value, bankers need to ensure they have the strategic focus, operational savvy, and execution commitment to do it right. Rather than viewing fintechs as competitors to be feared, bankers should look at them as a means to benefit financially from BaaS.
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The Four Pillars of Smarter Bank Leadership
Gonzobanker
NOVEMBER 2, 2023
In the throes of managing balance sheets and loan portfolios and at the same time executing daily “run the bank” operations, bankers are faced with the need to continuously develop new customer experiences and scale enterprise capabilities. And, quite frankly, they’re struggling.
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Customer Experience – How Service Focused Banks Measure Their Performance
South State Correspondent
MAY 25, 2022
It is no surprise that these banks not only have higher customer experience performance but have a higher return on equity numbers. A better customer experience means less churn, a longer account life, more repurchases, more cross-sell, lower operating cost, greater trust, and more forgiveness.
What Can Banks Learn From The FinTechs?
Insights on Business
FEBRUARY 19, 2016
These firms collectively known as FinTechs or Financial Technology firms are disrupting the banking industry by dis-intermediating across a banking customer’s financial value chain. What can banks learn from the FinTechs? This will help maximize the impact and value for both topline growth and bottom-line optimization.
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Acquire or Be Acquired 2023: Disruption ‘Comes Home’ to Banking
Gonzobanker
FEBRUARY 1, 2023
While AOBA provides a fertile forum for buyers and potential sellers in the bank M&A space to commensurate, the crowd uses this valuable face time to also delve into discussions about the economy, strategic growth, fintech innovation, competition, and talent wars.
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Spain’s FinTech Dark Horse Arrives
PYMNTS
OCTOBER 21, 2016
With a strong penetration of smartphones and mobile commerce, Spain is quickly gaining visibility in the FinTech world, and its capital city is leading the charge. Considered a “dark horse” in FinTech, Madrid is making strides to improve conditions for startups to flourish and boosting record venture rounds for its homegrown companies.
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10 Top Banking Podcasts You Should be Listening to
Abrigo
MAY 5, 2022
Breaking Banks Breaking Banks , billed as the #1 global fintech podcast and radio show, began in 2013 and is hosted by media firm Provoke.fm. Some recent episode titles: “Secret Sauce for Deeper Relationships & What’s So Nifty About NFTs” and “Fintech Investment and Growth Opportunities.” keep me informed. Whitepaper. CECL Models.
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What Can Banks Learn From The FinTechs?
Insights on Business
FEBRUARY 19, 2016
These firms collectively known as FinTechs or Financial Technology firms are disrupting the banking industry by dis-intermediating across a banking customer’s financial value chain. What can banks learn from the FinTechs? This will help maximize the impact and value for both topline growth and bottom-line optimization.
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What Can Banks Learn From The FinTechs?
Insights on Business
FEBRUARY 19, 2016
What should be their strategy for Digital Banking transformation and what they can learn from FinTech innovation? These firms collectively known as FinTechs or Financial Technology firms are disrupting the banking industry by dis-intermediating across a banking customer’s financial value chain.
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Embracing disruption at Bank Innovation Ignite with IBM
Insights on Business
FEBRUARY 21, 2019
In the financial services industry today, industry leaders are focused on leading their organizations into the future: Reshaping the customer experience with new business models supporting an integrated ecosystem-based marketplace. Optimizing risk, compliance and security.
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Reinventing Financial Services
Insights on Business
MAY 12, 2017
From pressures around data security, a constantly evolving regulatory environment, and disruptive new players (fintechs)—all amplified by cost pressures and diminishing margins—it’s clear that business models need to quickly adapt. We’ve been long saying that financial services firms today are undergoing a radical transformation.
How Banks Can Tap Trust As Their Foundation For Innovation
PYMNTS
MARCH 26, 2020
But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers. But the FinTechs, Baird noted, are adapting and innovating around that issue. Baird said. “As
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Where is the Financial Services Industry in the digital transformation journey?
Insights on Business
NOVEMBER 8, 2018
I thought one panel participant explained eloquently where the financial services industry is in the digital transformation journey when he put it in terms of the incumbent bank’s relationship with fintechs. He observed: We’re in what was described as “Phase 3” with fintechs. He hits on an important insight.
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Modern Core Systems – It’s Time to Get a “Sidecar”
South State Correspondent
AUGUST 10, 2023
Maybe an incoming payment was not processed by another bank, for example, and the customer never received funds. It eats up a substantial number of resources for a bank and often causes a less-than-optimal customer experience. Gaining experience with a modern core allows the bank to operate at a lower cost in the future.
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Unleash the Robots; Reap the Rewards: How Banks Can Use Robotic Process Automation Software to Improve the Customer Experience
NCR
MARCH 2, 2016
Increased competition, stringent regulations and the sheer abundance of choices mean it’s now “all about the customer” and established banks are finally working with fintech organizations to tackle this digital disruption challenge. Personalization is at the forefront of this movement. What’s the holdup?
What the technology, process and people of a future-ready bank look like
Insights on Business
MAY 25, 2018
On May 22, about 100 C-level executives from leading financial services institutions joined us for an all-day conference about defining what a future-ready enterprise is, and how to build it. It was a packed day of peer-to-peer conversations on how to lead reinvention across the enterprise. Enter the platform. " #RFS2018.
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The Great Credit Card Program Outsourcing Debate
PYMNTS
NOVEMBER 19, 2019
Among the biggest debates is how to construct and operate the best card program possible – a decision that served as the foundation for a new PYMNTS interview with Jim Geeslin, head of strategy for Elan Financial Services , an agent credit card issuer. They differ in terms of assumed risk and FIs’ control over their card programs.
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20 Banking Realities for 2020
Gonzobanker
JANUARY 17, 2020
In the soon to be released What’s Going On In Banking study, Cornerstone ’s Ron Shevlin shows that both bank and credit union execs are most fearful of big tech (Amazon Prime, Venmo, Apple Card) primarily because of their great data reach and ability to drive customer experience. Experian recently reported.
Don’t miss these IBM sessions at Money20/20
Insights on Business
OCTOBER 16, 2018
Creating compelling AI omni-channel customer experiences. Warren Raisch, IBM Executive Strategist, Watson Customer Engagement. For those in marketing, data and analytics roles who have business operations responsibility. Customers expect personalized engagement at every touch point. Veronese, 2nd level Room 2406.
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The top lending & credit risk blogs of the year
Abrigo
DECEMBER 22, 2023
But the benefits of automation are a key part of the customer experience. Why banking technology makes sense – recession or not Seventy percent of leaders from banks, credit unions, and fintechs in late 2022 planned to increase their tech spending in 2023, according to a survey by American Banker parent Arizent.
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221 Financial services at IBM Think 2019
Insights on Business
JANUARY 17, 2019
And the conference holds an impressive line up of education and activities for financial leaders focused on: Reshaping the customer experience with new business models supporting an integrated ecosystem-based marketplace. Digitally transforming operations, operating models and technologies to compete in a changing industry structure.
11 Commandments of Digital Banking: The Customer Journey
FICO
JANUARY 11, 2022
Join me and my guest, analyst Alex Johnson of Cornerstone, as we discuss this concept of digital transformation for the customer journey. . With increased competition from challengers and Fintechs, financial institutions need to approach digital transformation as an opportunity to build something fundamentally new.
For Credit Unions: Trust, But Innovate
PYMNTS
APRIL 1, 2019
Because while a relationship of trust gives credit unions a powerful infrastructure from which to build a more innovative customer experience, it is also a mandate pushing them forward to live up to the faith their customers have put in them. That is, if they choose the right FinTech. For example, 49.1
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Digital first in banking: Going beyond the interface
Insights on Business
FEBRUARY 27, 2019
The ingredients that will help execute the digital first mission include: Customer experience: Who are the digital-first customers and what do they expect? Execution speed: How can we go faster? Customer experience. We need to consider the needs of all types of customers. Make it seamless—and smart.
A new digital bank needs a new customer service experience
Insights on Business
FEBRUARY 13, 2019
They use the Bradesco infrastructure, but they operate in parallel. At IBM Think 2019, Henrique Albuquerque from Bradesco Research and Innovation offered insight into how Bradesco is transforming by focusing their entire business structure around the customer journey. Next was born to complement Bradesco’s strategy.
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Bank CIOs Must Break Through The Tactical Barrier
Gonzobanker
JULY 8, 2022
While experience is a critical ingredient for the top technology role, it’s important to recognize that decades of experience translate to a leader who grew up in the “tactical” era of technology. The operational world of cash, checks, deposit slips, passbooks, and teller terminals used to dominate bank tech budgets.
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146 How banks use bank-as-a-platform to modernize apps with cloud
Insights on Business
OCTOBER 11, 2018
Open banks can use and share customer data through APIs for a broader end-to-end customer experience and connect their banking apps both internally and externally to the ecosystem. Such open banking approach necessitates that the banks develop an open banking platform with externalized APIs. This is essential.
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From Paper To Digital To Money On Demand: Who’ll Lead The Way?
PYMNTS
JULY 27, 2020
Now, Edwards said, banks are at the same starting point on disbursements, but this is the opportunity to capitalize on the next big digital payments wave — from digital to instant, on-demand money, creating a modern disbursements experience. It’s happening either way,” Edwards told Webster. When ‘Instant’ Really Isn’t.
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5 payments trends you should know about
Independent Banker
DECEMBER 31, 2022
Increased competition signals that the payment relationship with the customer is up for grabs by a growing group of challengers. CB Insights revealed that Q3 2022 fintech investments in payments continue to dominate financial services, with early-stage deals reaching a record high even as overall funding begins to cool.
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What consumers demand of banking loyalty programs and how to exceed their expectations
NCR
SEPTEMBER 5, 2017
Banks face pressure as consumers are given more opportunities to compare and switch services, not to mention the rise of the dynamic fintech sector. Traditional banks must now work twice as hard to retain their existing customer base and entice younger generations into the fold. Focus on simplifying the user ‘shopping’ experience.
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