March 5 – Intermountain Community Bancorp (Nasdaq:IMCB) and its banking division, Panhandle State Bank, have announced the election of Ford Elsaesser to the position of chairman of the board of directors effective immediately following the 2013 Annual Shareholders Meeting on April 24, 2013. Elsaesser succeeds Jack Parker, who has served as the institution’s chairman since 1995. Parker will continue to hold a director’s seat on the board.
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October 17 – The U.S. Payments Forum has released its fall 2016 market snapshot, providing statements on the status of the U.S. chip migration, its impacts on the U.S. market, and upcoming priorities and recently-released resources for moving the transition forward. The U.S. Payments Forum, formerly the EMV Migration Forum, is made up of constituents from the entire payments ecosystem and has been the source for EMV implementation guidance since the start of the migration in 2012.
May 11 – While retail banks have begun a tentative financial recovery, disruptive challenges are accelerating and will force banks to develop digital capabilities that “radically simplify” operations and reinvent customer service, according to a report by The Boston Consulting Group (BCG).
March 29 – -ATM Industry Association (ATMIA) has released the results of its 2016 ATM Channel EMV Readiness Survey; the third in a series, originally launched to gauge the industry’s preparedness for the April, 2013 Maestro liability shift. Just 14 months ago, only 12% of survey respondents expected to end 2015 without any ATMs accepting EMV transactions. Those expectations were missed by a wide margin, with the actual number ending up at 48% – nearly half of all ATM operators.
By KC Mathews
We all know of Aesop’s fable, “The Tortoise and the Hare” — a story of two unequal opponents who agree to a race. The outcome appears to be obvious, but in a surprising twist, the ever-so-diligent tortoise perseveres and wins the race. The moral of the story is slow and steady wins the race.
By Clint Bryant
In today’s rapidly expanding digital ecosystem, consumers’ mindsets are shifting to a “need access now” philosophy, even when it comes to banking. Waynesboro, Tenn.-based Wayne County Bank was determined to adopt a mobile application to meet this demand for instant access and demonstrate that, even as a smaller institution in a rural community, it could bring its customer base the same, advanced technology as the megabanks. The bank’s goal was to leverage the mobile channel to offer optimal convenience to its customers while simultaneously proving its ability to keep up with technology.
By Erin Oswalt
Customer experience in commercial cash management is all the rage. According to a recent study from Aite Research Group, 72% of the top 50 banks in the U.S. are planning to invest in 2016 to improve the online customer experience. So to get the most value for this investment, what are the key things banks should accomplish?
November 30 – According to new data from the American Customer Satisfaction Index (ACSI), customer satisfaction with the finance and insurance sector continues its slide. The sector, which includes banks, credit unions, life insurance, health insurance and Internet investment services, falls 0.4 percent to 74.8 on ACSI’s 100-point scale, its lowest score in a decade. (more…)
By John Levy
A bank’s success is determined in large part by delivering stellar customer service. Today’s irony is that, to deliver great service, banks must allow consumers to manage their transactions independently. Consumers want convenient, self-service options. This movement is growing, and so is banks’ understanding of the widespread benefits gained by permitting customers to conduct business independently. For this reason, self-service has become a major banking buzz word; however, its meaning might be considerably different depending on who you ask. Now is the time for banks to evaluate the way they approach self-service and deliver these highly sought after on-demand capabilities to meet evolving consumer demands. Modern banking alternatives enhance the consumer experience and also level the playing field with the nation’s biggest institutions. (more…)