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3 Tips to Head Off a Digital Banking Conversion Nightmare

Gonzobanker

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. It can change its core system.

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Building a Discipline to Drive Digital Banking Strategy

Gonzobanker

Cornerstone’s Growth Engine Framework illustrated below summarizes common measurements used to monitor the digital customer through the capture, acquire and nurture stages of relationship development. Typically, some of the lowest Net Promoter scores (NPS) in banking come from frustrated digital banking and payments users.

Strategy 156
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Fraud prevention and detection: Empowering clients through education

Abrigo

Takeaway 3 Numerous resources can help banks and credit unions offer training on fraud to help customers or members recognize scams and avoid theft. As financial transactions become increasingly digital, consumers and businesses must be equipped with the knowledge to navigate day-to-day business securely.

Fraud 195
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Non-Maturity Deposits – A New Machined Learned Framework For ALM

South State Correspondent

While there have always been problems in banks’ asset-liability models (ALM) and liquidity stress test models, the current environment exacerbates this problem. As a result, most banks are overestimating their liability sensitivity and, thus, their deposit value.

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Trust: Once Again the Most Precious Currency in Banking

Gonzobanker

Here are seven key areas where bank executives need action plans to address burning challenges: Communication – Bankers have been working to calm their customers and community, but the quantity and quality haven’t yet met the standard in an always-on social media world where the public is sniffing for transparency and authenticity.

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Deep Dive: Preventing Financial Crime Amid The COVID-19 Pandemic

PYMNTS

The rise in financial crime during the COVID-19 pandemic stems from several factors, the first of which is the unprecedented volume of customers digitally accessing their banks instead of visiting bank branches. Education is a key weapon in banks’ arsenals to protect their customers from COVID-19-related scams.

Fraud 167
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How Banks Can Stay More Connected Like Amazon

Gonzobanker

This could be in the form of in-depth staff training and certification, staffing smarter contact center representatives, smarter mobile apps and websites, financial education, webinars about cash management, videos or blogs. Switch out sales pitch-oriented collateral with interactive and compelling information to drive self-buying.