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Bots Can Boost Banks’ Efficiency — But Watch for Pitfalls

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.

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Case Study: Planters Bank Boosts Security with Managed Detection and Response

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.

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The Intersection of Banking and Identity Theft Restoration

By Donna Parent

In a 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 devices.

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2019 So Far: Where Are We at with Digital Growth?

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.”

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Has Your Organization Spent Enough Time Focused on Your Customer Tax Reporting Requirements?

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.

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