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Technology Focus

Four Ways Biometrics Could Change the In-Branch Banking Experience

By Philippe Benitez

Biometric technologies are here to stay. That much is evident, thanks to consumers’ avid adoption of mobile devices and everyday applications that leverage fingerprint identification, facial recognition and other modalities that already extend into the mobile banking realm. As that tech diffuses into other parts of daily life and business, including airports, automobiles and commerce, it’s worth considering how it might transform bank branches, one of the last bastions left relatively untouched by the digital revolution.

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How AI Helps Banks Compete With Digital-First Players

By Laura Crozier

Since the 2008 financial crisis, banks have spent a lot of time and energy on regulatory compliance and cost cutting. Until just recently, as a result of growing regulatory demands, investment in new technology took a back seat, as did innovation.

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Creating the Data-Driven Culture

By Neetu Shaw

As we stare down the barrel of another year, we reflect on the good, bad and ugly of 2018 while making plans for the months to come. As you reflect, it’s important to consider how your institution will spend the next 12 months creating a data-driven culture — embracing the value of data, especially when it comes to customer satisfaction.

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Technology Through the Years

A final look back at banking innovation.

By Michael Scheibach

“Conestoga Bank, headquartered in Chester Springs, Pa., is introducing mobile remote deposit capture, or mRDC: the ability to use a smartphone to photograph a check and deposit it directly into your bank account.”

This was the opening sentence of my Technology Focus column eight years ago. Mobile RDC was quite new at that point, with many banks hesitant to implement the technology because of potential risks of duplicate deposits. Today, mRDC has become an essential offering critical for retaining current customers and obtaining a new generation of digital-first customers. According to a survey by RemoteDepositCapture.com, 95 percent of banks now believe mRDC benefits outweigh the costs and risks.

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Cybercrime: A Continual Threat

Despite gains, cybersecurity remains critical.

By Michael Scheibach, Contributing Editor

Some 12 billion records are expected to be compromised globally by cybercriminals this year. That’s a pretty incredible number. Now try this: In 2023, just five years away, more than 33 billion records will be stolen — an increase of 175 percent. As if that’s not bad enough, more than 50 percent of data breaches in 2023 will occur in the United States. The reason? Consumer and corporate data are maintained by a wide range of institutions with disparate safeguards and regulations, making it easier for cybercriminals to exploit systemic weaknesses. So says Juniper Research in its new report, “The Future of Cybercrime & Security.”

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