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Focus on Relationships, Not Transactions

Too much time is spent on products and delivery systems.

By Don Musso and Stephen Brown Klinger

This article is the third of a four-part series on strategic planning adapted on FinPro’s 2016 State of the Industry speech titled “The Traditional Community Bank Model is Dead.”  The next and last topic in the series is “Use Complementary Fintech Systems to Create Competitive Advantages,” which is scheduled to publish in May 2017.

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Changing Consumer Saving Pattern

February 9 – Malauzai Software, a provider of mobile and Internet banking SmartApps™ for community financial institutions, released its latest “Monkey Insights, Digital Banking Usage” providing significant trends and usage within the internet and mobile banking arenas from more than 415 U.S. financial institutions.

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Bank of the West Earns Recognition As a 2016 Javelin Online Banking Leader in the “Customer-First Banking” Category

December 2 – Bank of the West has been chosen as one of the winners of the Javelin Online Banking Leader awards for financial institutions (FIs) that distinguished themselves from the competition by providing the outstanding online banking experiences for their customers.

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Citibank Launches Touch ID Sensor Authentication

November 8 – Citibank has launched Touch ID Sensor authentication service in Hong Kong, allowing for a full suite of mobile banking services, including transaction, investment and enquiry, to be performed via its Citi Mobile® App on the iOS platform with iPhone 5s or later models1. Clients can now log on to the mobile banking app on their iPhone devices with their unique fingerprints and enjoy a faster, more convenient and secure mobile banking experience. This is the latest addition to Citi’s biometrics authentication offering, following the launch of voice biometrics authentication in June this year.

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Biometrics, Bots and the Future of Security in Financial Services

By Eric Crabtree

Not surprisingly, cybersecurity always ranks high on the list of chief concerns that cause bank CIOs to lose sleep at night. That’s because increasing levels of sophistication in the tech used by hackers and fraudsters is making it harder for financial institutions to defend themselves.

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National All-Digital Banking Platform Debuts with High-Interest-Yielding Account

October 26 – MemoryBank, a national branchless banking platform opened its “digital doors” at www.mymemorybank.com.

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Mobile Banking Users to Reach 2 Billion by 2020

October 18 – New research from leading Fintech analyst, Juniper Research, finds that over 2 billion mobile users will have used their devices for banking purposes by the end of 2021, compared to 1.2 billion this year globally. Growth in mobile banking is being driven by consumer adoption of banking apps the changing way consumers manage their finances.

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FNB of Pennsylvania Adds Card Control Module for Mobile Banking App

October 7 – First National Bank of Pennsylvania, the largest subsidiary of FNB Corp., has upgraded to the latest version of Fiserv Mobiliti Advantage mobile banking and payments platform from Fiserv Inc., adding a new module that enables mobile card control capability.

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Mobile Banking Hits 700,000 Transactions in August

September 29 – Malauzai Software, a leader in mobile and internet banking, has released its monthly Monkey Insights “little data” report highlighting key trends in internet and mobile banking usage based on August 2016 data for 385+ banks & credit unions. The data covers 8.95 million logins from 465,000 active Internet and Mobile Banking users.

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BBVA Compass Mobile Banking App Wins Third Consecutive Javelin Mobile Banking Leader Award for Functionality

August 19 – It’s a triple play for BBVA Compass’ mobile app, which was honored with the 2016 Javelin Mobile Banking Leader award for Functionality for the third consecutive year in Javelin Strategy & Research’s Mobile Banking Financial Institution Scorecard. BBVA Compass was also named a Leader in Most Comprehensive Alerts category for the first time.

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