Technology Focus - Page 2

Creating the Data-Driven Culture

By Neetu Shaw

As we stare down the barrel of another year, we reflect on the good, bad and ugly of 2018 while making plans for the months to come. As you reflect, it’s important to consider how your institution will spend the next 12 months creating a data-driven culture — embracing the value of data, especially when it comes to customer satisfaction.


Technology Through the Years

A final look back at banking innovation.

By Michael Scheibach

“Conestoga Bank, headquartered in Chester Springs, Pa., is introducing mobile remote deposit capture, or mRDC: the ability to use a smartphone to photograph a check and deposit it directly into your bank account.”

This was the opening sentence of my Technology Focus column eight years ago. Mobile RDC was quite new at that point, with many banks hesitant to implement the technology because of potential risks of duplicate deposits. Today, mRDC has become an essential offering critical for retaining current customers and obtaining a new generation of digital-first customers. According to a survey by, 95 percent of banks now believe mRDC benefits outweigh the costs and risks.


Cybercrime: A Continual Threat

Despite gains, cybersecurity remains critical.

By Michael Scheibach, Contributing Editor

Some 12 billion records are expected to be compromised globally by cybercriminals this year. That’s a pretty incredible number. Now try this: In 2023, just five years away, more than 33 billion records will be stolen — an increase of 175 percent. As if that’s not bad enough, more than 50 percent of data breaches in 2023 will occur in the United States. The reason? Consumer and corporate data are maintained by a wide range of institutions with disparate safeguards and regulations, making it easier for cybercriminals to exploit systemic weaknesses. So says Juniper Research in its new report, “The Future of Cybercrime & Security.”


High-Tech, High-Touch Loans

It’s time to streamline small-business lending.

By Michael Scheibach, Contributing Editor

A small-business owner needs a loan. This requires a visit to the bank during business hours to meet with a loan officer and complete a paper-based loan application form. Before being approved, however, the application must be reviewed, which might take a day or more. Rather than wait, the owner decides to pursue an alternative lender that offers faster loan processing — even though the terms are not as attractive as the bank’s.


Five Popular Myths about AI

By Christian Engel

July 19 — The concept of artificial intelligence has provided fodder for science fiction writers for decades. Today, narratives that we will soon see a malevolent super-intelligence like Skynet from “Terminator” have become commonplace. But a dark future with a fight against monsters like the Terminator seems a bit far-fetched. Yet if you’ve been reading up on artificial intelligence recently, you’ve come across plenty of myths almost as scary as the Terminator: All our jobs are going to disappear! Robots are going to take over our business activities! Every company has to purchase AI very soon in order to survive in the market!


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