By Jeff Lewis
Prepaid cards are a hit with consumers, and BFSI Research forecasts the global market for them will reach $3.65 billion by 2022. Accordingly, prepaid card services are an increasingly popular offering for financial institutions, provided they can keep up with the steep data storage and analysis requirements. In the past, these requirements precluded smaller, regional banks from getting into the prepaid card market; the requisite IT staff, hardware setup and software licenses were too expensive for their smaller budgets. But this barrier to entry is lowering, thanks to the rise of integrated big data analysis platforms and open source software.
By David Eads
With the market growth of “mobile-first” consumers, bankers have recognized the need to create more user-friendly experiences for these customers. Because initial engagement (and the ability to keep customers engaged) is a major component for growth, bankers are now leveraging technology in smarter, more effective ways when it comes to their application processes — realizing better conversion rates, lower abandonment rates and improved customer experience.
As consumer expectations continue to evolve, how can digital help branches transform to deliver better experiences?
By Joe Salesky
Fintech visionaries continue to debate if or when digital banking will outpace branch banking, making the branch obsolete.
By Randy Baker
Many institutions launch social media from the mid-level or below and never get buy-in from the top. To have a successful social media program it must start from the top. I mean the very top — the board of directors.
By Ravi Acharya, head of consumer lending and innovation, Santander Bank
December 8 — 2017 has shown a continued ascent of credit card accounts in the U.S., with 171 million consumers having at least one credit card, according to credit monitoring firm TransUnion. Representing the highest level since 2005, that figure equates to approximately 2.7 credit cards per consumer, with the total number of cards in circulation topping more than 405 million1.