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.
Why representation matters for women in banking.
By Alaina Webster, Managing Editor
Women in positions of authority isn’t a new idea. Or to rephrase, a woman, singular, in a position of authority isn’t a new idea. However, multiple women in charge, perhaps even a higher number of women than men, that’s taking some getting used to. As women demand more — an equal number of — seats at the table, it’s clear they will have to rely on one another to get there.
Behind the scenes at one of the nation’s fastest-growing banks.
By Dennis Wang
TriState Capital Bank was already one of the fastest-growing banks in the U.S. when, in 2016, it decided to refresh its commercial deposit line of business. As the organization neared its 10-year anniversary, its leaders were confident its treasury management deposit growth was only a fraction of what it could be. Their instinct was right. Now, three years after the bank shifted gears and implemented a new strategy to drive lower-cost commercial deposits, its enhanced treasury management business is a significant contributor to TriState Capital Bank’s phenomenal growth, with over $5.9 billion in assets and counting.
The American Bankers Association recently announced a partnership with Alloy Labs Alliance. The Alliance, a shared financial innovation lab and consortium co-founded by midsize and community banks, brings banks together to identify, evaluate and implement new technology and innovative products. Alloy is led by the team of financial technology experts at FinTech Forge.
Banks are turning to automated deposit to reduce the cost of branch operations.
The number of ATMs that allow customers to make real-time cash deposits in continuing to increase, according to London-based RBR’s Global ATM Market and Forecasts to 2023 report. At the end of 2017, automated note deposit (also known as “smart” or “intelligent” deposit) was available at 1.2 million ATMs worldwide, up by 10 percent compared to a year earlier. The share of ATMs offering this service is also increasing, from 34 percent to 38 percent over the period. This includes both recyclers — machines that dispense the same notes that have been deposited — and less complex devices in which the deposit and dispense modules are completely separate.