November 30 — Fifty percent of banking customers wouldn’t mind if their local bank branch closed, according to a recent survey by Webpals Finance, part of the Tel Aviv, Israel-based Webpals Group. Moreover, 56 percent of banking clients feel that the level of customer service on personal finance apps is the same as in-person, citing their proclivity for digital banking over in-person interactions.
November 29 — When it comes to bills, the majority (60 percent) of Americans express anxiety, while nearly half (46 percent) are behind on payments and over a third (39 percent) feel a need to call about their accounts.
November 28 — In its most recent quarterly Banking Outlook research study, Chicago-based BAI unveiled three top challenges facing banks of all sizes in 2019: deposit growth, loan growth and new customer acquisition.
The headline-making Equifax data breach in 2017 prompted many financial services companies to take a long, hard look at their data vulnerabilities.
By Troy M. La Huis, CAMS, and David R. McKnight, CISSP
November 26 — Given the spate of major data breaches in recent years, you’d be forgiven if you’d forgotten about the incident involving Equifax that occurred just over a year ago. But nearly 150 million people were affected in that breach, which was just one more example of how companies must adapt to a changing world.
By Ryan Zlockie
Consumers are bringing change to banks.
Once seen as just a collection of local branches, banks are embracing new, digital touchpoints to satisfy evolving customer demands. According to a recent report, more than half of all U.S. consumers prefer an omnichannel experience when banking. But as consumer touchpoints continue to expand, such as the advent of mobile peer-to-peer services, a new question is poised to emerge. How can you maintain high security standards while also meeting needs of modern consumers?