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Studies & Trends

How Verified Is Your Data?

April 19 — A new report from Accenture, New York, finds that many banks have not verified the validity and accuracy of their data. Banks have always held a large volume of confidential data and increasingly adding data from external, unstructured sources, and according to Banking Technology Vision 2018, 94 percent of bankers are confident in the integrity of their data sources, but 11 percent trust the reliability of their data but don’t verify it, 16 percent try to validate their data but aren’t sure of the quality of said validation, and 24 percent who do validate recognize more could be done to ensure quality.

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Digital Personal Banking Is Growing, but Business Banking Lags Behind

April 17 — According to the 2018 State of Digital Sales in Banking Report — published by Avoka, a Denver, Colo., and London-based provider of customer acquisitions in banking — nearly 50 percent of the worlds’ banks have entered the “Digital Promised Land,” with 69 percent of products in the personal banking sector now being applied for online.

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Support for Mobile, Alternative Payments Types Is Rising

April 17 — Boise, Idaho-based Kount, a provider of solutions for fraud and risk management, released results from its inaugural State of Payment Processing & Fraud: 2018 report. Approximately 15 percent of the worldwide payment processor community was surveyed to “gain a clear understanding of their strategic priorities over the next year, as well as the value processors place on using qualitative and quantitative analysis within their organizations.”

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Loan Growth a Top Priority for Community Banks in 2018

April 16 — In 2018, financial institutions can expect to focus on expanding loan portfolios, with community banks especially keen on generating commercial loans and credit unions working to generate consumer loans. These findings come courtesy of the Cornerstone Advisor’s What’s Going on in Banking report (sponsored by Baker Hill), which states that one in five institutions will add a new or replacement loan origination system this year.

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Consumers Embracing Chip Readers, Interested in New ATM Capabilities

April 12 — It’s been less than three years since wide availability of EMV cards, consumers now seem to prefer chip card readers to other forms of card payment. This preference is a marked change from a year ago, when consumers preferred the swiping method of card reading.

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