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Business Development

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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Is AI Coming TO or FOR Your Job? It Depends.

By Kimberly Nevala

August 13 — The forecast regarding AI’s impact on jobs is foggy, at best. In Cognizant’s 2015 paper, The Robot and I, one out of five companies surveyed reported up to a 25 percent reduction in employees in core administrative functions including supply chain, HR and finance.

The industry vertical predicted to have the highest level of staff reduction long-term? You guessed it: banking.

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Build a Better Branch Strategy

Data analytics are essential for picking the best locations for new business.

By Anne High and Andy Grinstead

Reports of the death of the branch have been greatly exaggerated. While consumers are increasingly turning to non-branch channels for day-to-day interactions, branches still play an essential role in primary financial institution selection, and many financial institutions continue to look at expanding market footprint to fuel growth.

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What’s Trending in Bank Marketing and Customer Acquisition?

July 24 — According to findings from Chicago-based BAI’s 2018 BAI Banking Outlook, more than half of consumers searched for a new bank or new account within the last year. While more than 28 percent indicated they would open an account with an online bank, almost half (49 percent) opened a new account with their main bank.

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Contactless Card Adoption Could Increase Banks’ Card-Related Earnings

July 23 — A newly released report from A.T. Kearney, Why U.S. Banks Should Make Contactless Cards an Immediate Priority, explores the U.S. market outlook for contactless card payments. The report findings suggest contactless cards can yield meaningful strategic and economic benefits to merchants and financial institutions while improving the experience for consumers.

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