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Digital Banking (Mobile/Online)

Banking After GDPR: Consent and Agility

By Paul Rohan

June 19 — Historically, confidentiality has been the priority of the banking industry. Today, additional cornerstones are emerging as customers have embraced — and come to expect — services that provide richer, more valuable experiences, such as offering financial advice based on past behavior and enabling payments or money transfers virtually anywhere to anyone. Fueled in large part by the proliferation of mobile devices, cloud services and app ecosystems, these changes require a competency many banks have never developed — sharing data.

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Financial Apps Are Setting Standards for Customer Satisfaction

June 14 — As digital/mobile banking becomes more and more mainstream, the mobile apps designed by banks and credit card companies are raising expectations for ease of use and customer satisfaction across all industries.

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Mezu Allows Money Transfers Without Sharing Personal Info

June 14 — Apps to share money are everywhere — Venmo, Zelle, Google Pay, Apple Pay, Samsung Pay, to name a handful — but most require users to input some of their most sensitive information, some of which may be shared with second or third parties. Venmo will even make record of your transactions public in a social “feed,” unless you take the time to turn off that feature. Cleveland-based Mezu says its new app has a solution for people wishing to exchange money with more privacy.

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Why a Competitor’s Security Breach Could be Good for Your Institution

June 12 — Roughly 128 million Americans are more concerned about identity security than they were a year ago. And yet, the gap between “concern” and “action” remains wide. So, why aren’t consumers taking more responsibility for their own cybersecurity, and what could motivate them to change these behaviors?

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Putting the Retail in Banking, Part III: Generating Branch Involvement

June 7 — If, as discussed in Part II, strong branch interactions drive product sales, but also if, as discussed in Part I, branch traffic is diminishing, how can banks drive branch traffic? Aside from giving potential customers easy ways to book appointments for in-person consultation, community and/or educational events give people a way to experience in-person branch interactions.

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