US Bank deploys smart assistant to boost digital banking
Payments Dive
JULY 24, 2020
US Bank is deploying natural language processing and AI-based technology to move more of its retail banking business onto the mobile banking app.
Digital Banking, With Millennial, Mobile – And Governmental – Tailwinds
PYMNTS
SEPTEMBER 11, 2019
Make that leather wallet a mobile one, wielded on smartphones. As we noted in this space earlier in the summer, using apps to bank is markedly being embraced by the younger generation. As spotlighted in the Digital Banking Tracker , the global digital banking market is slated to grow by 16 percent, compounded annually.
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Trending Sources
Look Beyond Technology for Better Digital Banking, Fiserv Says
Bank Innovation
JANUARY 10, 2018
EXCLUSIVE—With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions.
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Deep Dive: Strategizing Transparent, Holistic Digital Banking Transformations
PYMNTS
APRIL 27, 2020
Banks do not always have the budgets or resources to craft cutting-edge online and mobile experiences, although they can no longer afford to put off digital transformations. The number of online banking customers is growing worldwide, and FIs’ consumers are coming to expect seamless digital experiences as a result.
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How ‘Pandenomics’ Will Drive Mobile Check Deposits
PYMNTS
SEPTEMBER 17, 2020
“Pandenomics” may usher in a new age for mobile check capture and deposits. In an interview with Karen Webster, Mike Diamond , general manager of digital banking at Mitek , said it’s unlikely that customers will revert back to their branch-intensive, pre-pandemic banking behaviors.
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The Race To The Cloud: Will Digital Banks Win?
PYMNTS
APRIL 23, 2020
More banks are therefore moving away from legacy core systems to embrace cloud-native architectures to power automation and meet the speed expected by consumers, securely. Developments Around The Cloud Banking World. British FI Lloyds Bank is moving forward on its digital journey with the help of a few partners.
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Increasing Digital Banking Options Put Pressure On Big Lenders To Adapt
PYMNTS
OCTOBER 6, 2020
We’re a mobile app, and that’s how we deliver our services.”. Of course, the pandemic has forced banks – like all businesses – to rethink their priorities and make adjustments to how they interface with customers. To be fair, it’s not as if banks have been ignoring the technological shift.
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3 Tips to Head Off a Digital Banking Conversion Nightmare
Gonzobanker
APRIL 11, 2023
It’s one of a banker’s worst nightmares: the digital banking conversion that was designed to improve the customer experience fails – locking users out of their accounts, not showing balances, making wire transfer features inaccessible… It recently happened to a $25 billion bank in the Midwest. Trust us, it happens. The problem?
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Lumin Digital To Provide LAFCU With Digital Banking Solution
PYMNTS
NOVEMBER 17, 2020
Lumin Digital announced today (Nov. 17) that it will provide Los Angeles Federal Credit Union (LAFCU) with its cloud-based online and mobile digital banking platform, according to a press release emailed to PYMNTS. At LAFCU, we continuously want to improve the products and services we offer.
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N26: Cloud-Banking Core Key To Meeting Consumers’ Mobile Banking Needs
PYMNTS
JUNE 26, 2020
Many banks braced themselves for an oncoming surge in the number of consumers accessing their financial accounts online or via mobile banking apps, but safely and seamlessly providing that access remained tricky for many in the space. Developments Around the Cloud Banking World. customers in late May.
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Green Dot To Launch Mobile Banking For US Immigrants
PYMNTS
MAY 28, 2020
Welcome Technologies , which works to aid immigrants as they integrate into life in a new country, is partnering with Green Dot for the PODERCard, which will help U.S. Hispanic immigrants access digital banking services, according to a press release. Less than half of U.S.
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Deep Dive: How AI And Automation Are Changing Digital Banking In India
PYMNTS
JULY 29, 2019
To accommodate this shift and the nation’s growing number of internet and smartphone users, tech giants like Amazon and Facebook are launching digital banking solutions focused on mobile devices. The following Deep Dive explores AI’s fraud-fighting uses and how the technology can offer more personalized services.
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Digital banks are 35+ times more productive than traditional banks
Chris Skinner
APRIL 3, 2018
BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog. If you would like to get a signed copy of the book, just register here.
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Reimagining The Bank As A Technology Company
PYMNTS
APRIL 10, 2020
Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. “Banks are technology companies,” Rio Tinto recently told PYMNTS.
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WSFS Bank: Plain Vanilla Digital Banking Won’t Cut It Any More
PYMNTS
JUNE 1, 2020
In the inaugural Digital Payments In A Digital World Playbook , PYMNTS analyzes how recent events such as the COVID-19 pandemic have impacted consumers’ banking behaviors and how FIs are responding to these shifting needs. Why WSFS Bank Is Relying On QR Codes, Mobile Mess aging To Enhance Customer Loyalty.
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Entersekt: The COVID-Led Future Of Digital Banking
PYMNTS
JUNE 10, 2020
In one of the signs of where we are and where we are headed in the warp-speed transformation of digital banking, consider the internet meme that poses a multiple-choice question and series of answers. Who led the digital transformation of your company? A) CEO B) CFO C) COVID-19.”.
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Deep Dive: Why FIs Must Master Tomorrow’s Digital Banking Needs Today
PYMNTS
JUNE 3, 2020
Brick-and-mortar branches shuttered as social distancing measures were enforced, and customers subsequently turned to mobile apps or websites to fulfill their banking needs rather than risking in-person visits. during the past two months, for example, and mobile banking app downloads saw a 60 percent jump.
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Clinc Teams With Visa To Bring Digital Banking Tech To FIs
PYMNTS
MARCH 2, 2020
To provide its digital banking experience to more financial institutions, Clinc is teaming with Visa in a partnership that brings artificial intelligence (AI) technology to payments and banking customers. This kind of capability and cutting-edge AI wouldn’t otherwise be accessible without Visa.”.
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Banks enhance UX by accelerating investment in digital technologies
Bobsguide
APRIL 15, 2021
The pandemic has accelerated digital transformation in banking, leading banks to faster adopt new digital delivery models. The rise of neo and digital banking became the new normal, with an emphasis on mobile banking services. Industry analysts predict the pandemic will only help these new,
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Personalized Marketing: What Banking Customers Really Want
Perficient
APRIL 20, 2023
The Landscape According to Forbes Advisor: 2022 Digital Banking Survey , as of 2022, 78% of adults in the U.S. prefer to bank via a mobile app or website. And those consumers desire digital experiences that are personalized and meaningful.
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Cuscal On Digital Banking Done Down Under
PYMNTS
NOVEMBER 23, 2018
In banking and payments architecture, especially in the digital realm, a corollary might be “form and function co-exist, and should be flexible enough to change rather quickly.”. That’s partially due to a trust factor, which is conspicuously lacking in traditional banking.
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Serving Mobile P2P Payments To The Gen X Crowd
PYMNTS
SEPTEMBER 24, 2019
Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.
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PSCU: Digital Banking Helps Credit Unions Compete With Larger Banks
PYMNTS
NOVEMBER 24, 2020
The pandemic is reshaping banking. As more banking has shifted online, an increasing amount of that online activity is occurring across mobile conduits. Generationally, we’re seeing individuals who maybe weren’t accessing their card accounts or their banking accounts on a regular basis through digital,” he said.
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Texas Startup Alkami Raises $70M For Mobile Banking Software
Bank Innovation
JANUARY 10, 2018
Plano, Texas-based startup Alkami Technology has raised $70 million for its mobile banking platform, it was reported yesterday.
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How N26 Is Using The Cloud To Fulfill Mobile-First Customer Expectations
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.
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Deep Dive: How Banks Use Digital Technologies To Outlast The Coronavirus
PYMNTS
APRIL 24, 2020
Some banks have shuttered their branches during the pandemic and are relying on digital or mobile channels to fulfill customer needs, but others do not have that option. Digital Technologies Under COVID-19. Fifth Third Bank, KeyBank and PNC Bank are among those in the U.S. Several U.K.
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The growing interest in digital banks
Insights on Business
APRIL 28, 2017
Traditionally, banking was a conservative industry with relatively high barriers to entry. Banking products and services were defined and controlled by the bank. At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry.
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NEW REPORT: Wells Fargo On Leveling Up Its Digital Banking Game
PYMNTS
MARCH 22, 2018
Online and mobile banking interfaces have become must-have features for financial institutions in the digital age. Fifty-five percent of Americans have a full-service banking app on their phone, and 16 percent check these apps at least once per day. Around the Digital Banking World.
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Phlatbed CEO: How Mobile Tools Keep On-Demand Wages Moving
PYMNTS
NOVEMBER 9, 2020
The Tracker also examines how mobile and instant disbursement tools could be essential to making sure these individuals are still able to participate and transact within the digital banking world. Another FDIC report found that 31 percent of American consumers are now using peer-to-peer (P2P) mobile wallet apps, for example.
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Mobile Cards Key To Winning Bank Accounts
PYMNTS
FEBRUARY 25, 2020
Banks and legacy financial institutions (FIs) might be wise to study what disruptive technologies recently did to the print publishing industry, taxi cabs, network TV, and a host of other businesses that were disintermediated with little to no warning in recent years. Mobile Cards: Make or Break? Follow the Smart(phone) Crowd.
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153 Community Bank Acquires SMB Digital Bank Seed
PYMNTS
JUNE 25, 2019
Community financial institution (FI) Cross River Bank is acquiring Seed , a small business (SMB) digital banking company, reports in Reuters said on Monday (June 24). Cross River Bank has partnered with a range of FinTech startups since its 2008 launch, including collaborations with Stripe , Coinbase and Affirm , reports said.
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116 Mobile Banking Users Want More Control — But At What Cost?
PYMNTS
SEPTEMBER 17, 2019
Impending 5G technology holds a great deal of promise for many industries, especially for financial institutions. A 5G network could markedly improve mobile banking apps’ speed, security and ease of use. Mobile banking apps have already enjoyed mass adoption, but what are consumers using them for? Nearly all (93.1
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Hollywood’s Newest Special Effect, Digital Banking?
PYMNTS
APRIL 19, 2017
From phone support and mobile apps to ATMs and chatbots — when it comes to customer service, banking automation has come a long way. However, the one missing piece that these automated banking features lack is a real human being to interact with during a transaction. An Oscar-Worthy Banking Solution?
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180 Super Apps Rising: Mobile Drives Digital Payments Uptick In Pakistan
PYMNTS
FEBRUARY 2, 2021
In Pakistan, and elsewhere, the stars are aligning for greater use of digital banking and payments to improve financial inclusion. told PYMNTS CEO Karen Webster in an interview that the pandemic and the rise of mobile infrastructure have set the stage to bring people living in developing and emerging economies into the digital realm.
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How Banks Have Adapted Their Digital Banking Systems To Serve Customers During The Pandemic
PYMNTS
APRIL 23, 2020
Branch visits are vital to customers’ financial lifestyles, despite mobile and online banking’s growing popularity. We don’t think about digital just as a client-facing tablet,” Warder explained. “We’re Adapting to Social Distancing . These developments come with new expectations from customers, however. .
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Teachers Credit Union On Using Technology To Drive A Personalized Member Service Approach
PYMNTS
NOVEMBER 20, 2020
Studies have shown that CUs must personalize their in-branch and digital offerings with products and services tailored to individual members’ needs to stay competitive. Getting the customer service angle right is so crucial to CUs’ success that many CUs are investing in emerging technologies to help them better hit their marks.
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Podcast: How Digital Banking Transformation Paid Off in the Pandemic
ABA Community Banking
JULY 15, 2020
When COVID-19 accelerated customer movement into mobile and online banking solutions, and triggered consumers to push their funds into bank accounts, banks that had made investments in the digital customer experience were positioned to capitalize.
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Mobile-Only is a False Digital Banking Strategy
Banking Exchange
JUNE 30, 2019
The banking sector has caught “digital transformation fever” Technology Mobile Online Tech Management Feature3 Fintech Feature CSuite.
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Digital Banking Startup Alkami Secures Series D Funding
PYMNTS
JANUARY 10, 2018
Alkami Technology , a startup providing banks and credit unions with digital banking technologies, has announced new funding. Alkami offers financial institutions (FIs) a digital banking platform based in the cloud. The firm said Tuesday (Jan.
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REPORT: Credit Unions Go The (Social) Distance With Mobile Banking Tools
PYMNTS
OCTOBER 23, 2020
Consumers are increasingly seeking contactless ways to interact with their financial institutions (FIs), leading to a 200 percent jump in new mobile banking registrations during April. Foot traffic at bank branches fell by roughly 50 percent during the same month, illustrating just how many consumers are flocking to digital channels.
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Mobile Banking’s Authentication Breakthrough
PYMNTS
JANUARY 24, 2020
Turns out consumers mostly want one thing from mobile banking apps: control. banking customers about what makes (or breaks) a mobile banking CX. What they said may surprise FinTech insurgents and orthodox bankers, because what they want is simple: more digital sway when it comes to their own money.
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11 Commandments of Digital Banking: The Customer Journey
FICO
JANUARY 11, 2022
Last year we published a highly successful The 11 Commandments of Digital Banking eBook that introduced the 11 commandments: Digital lift-and-shift is not a strategy! Be fascinated by your customers, not your technology. Digital Lift-and-Shift Is Not a Digital Banking Strategy. Respect the data.
Why ‘Mobile-First’ Must Mean ‘Trust-Always’
PYMNTS
FEBRUARY 26, 2019
In the banking world, amid the continued shift to digital services, the mobile device might just be the fulcrum. According to Sherif Samy, senior vice president of North America at Entersekt , banks have an inherent advantage in place when seeking to bring new features and services to clients: trust.
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Radius Bank Goes Mobile For Micro-Businesses
PYMNTS
DECEMBER 18, 2018
Virtual bank Radius Bank — which services small businesses (SMBs), micro-firms and consumers — is rolling out a revamped digital banking platform and a mobile banking app, the company said on Monday (Dec. The platforms have added new digital solutions for financial budgeting and tracking as well.
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