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Studies & Trends - Page 2

Financial Institutions Want Guidance in Developing Payments Strategy

Results of The Center for Payments first nationwide survey focusing on the current and future payments environment in the U.S. are in, with more than 700 financial institutions and third-party senders participating in the organizations Future of Payments study. The study examined payments strategy, as well as plans and interest in adopting new technologies such as faster payment solutions.

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Four Ways Biometrics Could Change the In-Branch Banking Experience

By Philippe Benitez

Biometric technologies are here to stay. That much is evident, thanks to consumers’ avid adoption of mobile devices and everyday applications that leverage fingerprint identification, facial recognition and other modalities that already extend into the mobile banking realm. As that tech diffuses into other parts of daily life and business, including airports, automobiles and commerce, it’s worth considering how it might transform bank branches, one of the last bastions left relatively untouched by the digital revolution.

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Less Than Half of Construction Finance Data Is Centralized

A new report from Austin, Texas-based Rabbet, an intelligent construction finance platform, found evidence of digital readiness among lenders and developers in an industry that has historically been slow to adopt new technology. Recognizing the potential impact of artificial intelligence and automation, more than 70 percent of lenders surveyed agree that aspects of the draw process can be automated, and 67 percent of developers think automation will expedite the process.

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Smart ATM Deposit Gains Popularity with Banks and Customers

Banks are turning to automated deposit to reduce the cost of branch operations.

The number of ATMs that allow customers to make real-time cash deposits in continuing to increase, according to London-based RBR’s Global ATM Market and Forecasts to 2023 report. At the end of 2017, automated note deposit (also known as “smart” or “intelligent” deposit) was available at 1.2 million ATMs worldwide, up by 10 percent compared to a year earlier. The share of ATMs offering this service is also increasing, from 34 percent to 38 percent over the period. This includes both recyclers — machines that dispense the same notes that have been deposited — and less complex devices in which the deposit and dispense modules are completely separate.

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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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