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Studies & Trends

Banking App Innovation Boosts Adoption and Usage

Data from the Federal Reserve among others show a significant slowing of mobile banking adoption in recent years, falling short of online banking usage rates even as smartphones approached saturation point and financial institutions of all sizes launched app-based services. The industry has responded with a change in strategy, analysts say. There’s more interest in designing cross-channel customer journeys — hybrid experiences — now than during the years of double-digit growth in mobile user numbers. Banks continue to bring more of their traditional offerings onto their apps, but the emphasis is less on ticking boxes than on deepening engagement and moment-to-moment relevance by making the best use of channels’ particular strengths.

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Cyber Risk for U.S. Businesses Held Steady in Q1

According to a recent Assessment of Business Cyber Risk report, released by the U.D. Chamber of Commerce and FICO, the level of cyber risk to the U.S. business community held steady for the first quarter of 2019, with a national risk score of 687.

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Speed Bumps on the Road to Automation

Financial institutions face many roadblocks, both external and internal, when it comes to automation adoption according to a recent Cognizant study. From security issues (91 percent of respondents identified this as a “high” or “medium” challenge) and development (91 percent), to servcie production line cooperation (84 percent) and ongoing maintenance (89 percent), it is no wonder that the study has found that 65 percent of automation efforts remain in the proof-of-concept stage.

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Majority of Business Owners Use Same Institution for Personal and Business Finances

Understanding the wants and needs to business banking is often viewed as more challenging then consumer banking acknowledge BAI researchers when explaining key findings from the latest BAI Banking Outlook: Business Banking Insights.

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Hard Core: A Lack of Options for Processing Systems Continues to Frustrate

By Alaina Webster, Managing Editor

By far, the most interesting session I attended at the recent American Bankers Association conference in San Diego was “Addressing Core System Challenges.” During the hour-long session, a panel of five bankers, moderated by ABA’s Senior Vice President Christopher McClinton, discussed the intent of a newly convened ABA committee to address core system frustrations faced by community and mid-sized banks.

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