article thumbnail

As branches close, mobile video chat spikes 

Bank Innovation

As customers practice social distancing and financial institutions close branches, banks and credit unions are increasingly helping consumers via video chats. “We We can do anything over video that a branch can do except handle cash and coin,” said Tracey Miller, senior vice president of operations at Pioneer Federal Credit Union.

Video 307
article thumbnail

Retail banking trends to look out for in 2023

Independent Banker

ITMs and VTMs are popular retail banking innovations among community banks. What’s on the horizon for retail banking? According to a new report from PwC titled “Retail Banking 2025 and Beyond” (see sidebar), the retail banking industry is undergoing tremendous change—but, of course, community bankers already know that.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Weekly Wrap: Video tellers, RBC’s personalized app and Citi’s innovation labs

Bank Innovation

Whether its Happy State Bank pushing out video teller machines or TSB Bank launching a virtual assistant in five days, banks are trying to find new ways to connect with customers during times of social distancing. Banks are accelerating their technology projects in light of the coronavirus pandemic. Legacy banks in the U.S.

Video 259
article thumbnail

Retailers, Banks Say Transaction Clarity Key To Moving From Dispute Management To Dispute Prevention

PYMNTS

Amid the great digital shift , retailers and financial institutions (FIs) must walk the fine line between challenging transactions and letting the consumer journey proceed frictionless. That’s driven the retailer to require merchandise, risk-driven signatures that can be dynamically altered, said Thompson. The Scope Of The Problem.

Retail 228
article thumbnail

Western Union Launches New Video, Phone Tool For Home Money Transfers

PYMNTS

Users can choose phone calls or video in multiple languages to connect to a money transfer personal service assistant. Due to limited services via retail locations in some areas impacted by restricted movement guidelines, we are seeing increased demand for our online services.

Video 286
article thumbnail

Cooler Screens Brings New Look To Retail Innovation

PYMNTS

“We are essentially taking glass doors that were probably underutilized and not asking the retailer for any additional physical space.”. From a business standpoint, we believe that things like sales lift are obviously a really important metric,” Dravenstott said, “and you don't hear that much in brick and mortar retail.

Retail 277
article thumbnail

Preparing your financial institution to manage loan workouts, loan modifications

Abrigo

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. You might also like this video, "A look at credit risk in a rising-rate environment." Why get ready for managing loan modifications and loan workouts?