Robotic process automation offers many benefits for financial institutions, but you need to prepare before you jump in.
By Jason Chorlins and Roberto Valdez
Robotic process automation (RPA) is quickly
being adopted in the banking industry, trickling down from the biggest players
to community banks and online-only startups whose customers may not have
traditional accounts. Before you dive in, gain a better understanding of the
many ways bots are being used in banking, the future potential, and the implementation
considerations you shouldn’t overlook.
By Bruce McClure
In today’s evolving threat landscape banks face considerable pressure to improve security and meet compliance obligations while also controlling costs. This is certainly the case at Planters Bank, an FDIC-insured community bank with 13 locations across Kentucky and Tennessee. With assets totaling more than $1 billion, Planters Bank offers a wide range of consumer and business banking services, but the organization must continually adopt a forward-thinking mindset to deliver innovative yet secure financial services.
By Donna Parent
recent 60 Minutes interview, Jay Powell, Chair of the Federal Reserve, stated
that cyber risk is the largest threat to the Fed and to financial institutions
throughout the U.S. It’s not difficult to understand why. Today’s digital age,
paired with the ongoing development of new technologies, have provided a
breeding ground for cybercriminals to capitalize upon, across physical and mobile
There were four frequently made predictions by
industry experts, financial institutions and technology providers at the
beginning of 2019, according to the recent Digital Banking Trends Progress
Report from D3 Banking Technology.
“Even though we’re only halfway through, 2019
is shaping up to be another wild ride in financial services,” said Mark Vipond,
CEO of D3. “In 2019, banks and credit unions must focus on consolidating and
streamlining their platforms and leveraging modern technology that helps them
better understand their customers’ and members’ needs.”
By Tara Ferris, Justin O’Brien and Paul Frasco
The last several years have shown a dramatic increase in the volume and complexity of customer tax information reporting (i.e., Forms 1099), highlighting challenges in the back office tax operations function responsible for tax reporting and withholding. These last few years have taught us that organizations would be prudent to focus on potential reputational risks of customer tax reporting and withholding as well as how to make their process more efficient and effective.