BankNews.com

BankNews

Technology News

Hometown, Community Banks Don’t Have to Disappear

By Michael Boukadakis

The Wall Street Journal recently detailed the demise of the National Bank of Delaware County (NBDC), a small community bank that had been in business since 1891, after it bought Bank of America’s sole branch in an upstate New York town. “People waited in four-hour-long lines at the Monticello, N.Y., branch and withdrew nearly half of their deposits, moving them to banks with more reliable technology … The community bank, which had been in business for more than a century, eventually sold itself in a fire sale,” the Journal dolefully reported. But despite cautionary tales, community financial institutions aren’t doomed.

(more…)

As Contactless Cards and Instant Issuance Grow, Banks Must Adapt

By Rob Dixon

As consumer preferences and lifestyles adapt to tech-driven changes, banks must update their payment card offerings as well. Among consumers, there is a growing need to receive new or replacement cards immediately as well as the desire for frictionless, contactless transactions. Banks will need to embrace both contactless cards and instant issuance to offer customers an innovative and convenient experience, and work with the right sources to adapt quickly and cost-effectively.  

(more…)

Currency Only Works to the Extent People Trust It

By Tom Bengtson, Publisher

The foundation of currency is trust. The only reason any of us accepts the U.S. dollar as a unit of value is because we have all agreed it has value. This is something we have derived with our minds. Perhaps it was easier to accept the value of U.S. currency when it was backed by gold. Today, however, there is no asset at the foundation of money. Nonetheless, because we trust it, it is a useful medium of exchange.

(more…)

Why the Traditional Business Model for Banks Is Dead

By Michael Goodman

In 2016, leaders in the financial services industry felt pretty good about their future. While digital forces roiled other industries, life in financial services seemed well protected against the chaos. Incumbents had cemented relationships with large customers over decades, vertically integrated business models insulated them from external shocks and banking regulations erected difficult-to-overcome barriers for new competitors.

(more…)

Measuring Branch Performance in the New Era of Banking

By Bryan Ridgway

Industry pessimists continue to predict that the rise of digital banking will lead to the demise of financial institution branches. Important statistics, however, paint a different picture. Many institutions are actively opening or plan to open new branch locations, and many customers continue to prefer the face-to-face interactions offered at their local bank branches.

(more…)
  • Sign Up

  • Categories

  • Archive

Software: Kryptronic eCommerce, Copyright 1999-2019 Kryptronic, Inc. Exec Time: 0.068339 Seconds Memory Usage: 3.799858 Megabytes
Kryptronic