August | 2018 | BankNews.com
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Monthly Archives: August 2018

Banking on AV to Enhance the Customer Experience

Banks are integrating audiovisual technology into their retail locations, creating more personalized and targeted customer engagement.

By Brad Grimes, AVIXA

The banking industry provides its customers with effective and convenient online options in place of many interactions they used to conduct at branch locations. However, although customers can check their balance, send and receive money and even deposit checks on a mobile device, there are still many higher-level conversations that can’t be had through a device.

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Household Debt Continues Its Climb, Scaling Heights 618 Billion Dollars Higher than 2008 Peak

August 15 — The Federal Reserve Bank of New York’s Center for Microeconomic Data issued its Quarterly Report on Household Debt and Credit, which shows total household debt has increased by $82 billion (0.6 percent), reaching $13.29 trillion in the second quarter of this year. This is the 16th consecutive quarterly increase, and the total consumer debt is now $618 billion higher than the previous peak of $12.68 trillion, reached in the third quarter of 2008. Overall, household debt is now 19.2 percent above the post-financial crisis trough, reached during Q2 2013.

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The Mobile Remote Enrollment Challenge

August 15 — There may still be services that the average consumer prefers to access in-branch, but applying for a new digital product isn’t one of them. Fortunately, there are options available for remotely onboarding your existing customers quickly and securely, writes Dewald Nolte, Entersekt’s chief commercial officer.

Remotely enrolling users is a growing concern for digital service providers, especially in the security-minded industries. How do you make it easier — a lot easier — for your customers to sign up to new products and services at home, especially with so much else — and so many other providers — competing for their attention these days?

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Voting Is Open for the 2018 BankNews Innovative Solutions Awards!

August 15 — The Innovative Solutions Awards, sponsored by BankNews magazine, recognize companies that have introduced or significantly enhanced products designed to help community banks become more efficient, expand their capabilities and, ultimately, better serve their customers.

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What Does the Fintech Bank Charter News Mean for Banks, Fintechs, Regulators and Consumers?

August 14 — In response to the recent OCC announcement that it will begin accepting applications for special purpose national bank charters “from nondespository financial technology (fintech) companies engaged in the business of banking,” Minneapolis-based Wolters Kluwer has published The U.S. Treasury Fintech Report and the OCC Fintech Announcement: What They Mean for Banks and Fintechs. The whitepaper is intended as a summary highlighting key elements of both the OCC’s and Treasury’s announcements on innovation and advancing the use of financial technologies in the U.S. banking industry.

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