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Is AI Customer-Approved?

By Alaina Webster, Managing Editor

Begin a conversation about technology, and you’ll immediately hear that artificial intelligence will be driving banks in the near future. From chatbot companies, to the fintechs that help integrate the chatbots into core and legacy systems, a push is being made to establish AI as not only useful but inevitable. Phrases like “Banks MUST” and “Consumers EXPECT” are tossed about with abandon (sometimes even in this magazine). But is AI inevitable, and do customers really expect it?

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A Voice of One’s Own

Voice authentication may be banks’ answer to remote identity verification.

By Alaina Webster

Passwords, PINs, fingerprints and retinal scans work well when verifying identities via mobile or digital channels, but when it comes to determining if a customer is who they say they are over the phone, verification becomes more difficult and time-consuming. Enter voice authentication.

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Stability Through Times of Change

Thoughtful communication management is key to a successful merger or acquisition.

By Alaina Webster, Managing Editor

According to most predictions, merger and acquisition activity is expected to increase in 2018. An article from the Harvard Law School Forum on Corporate Governance and Financial Regulation, Mergers and Acquisitions: 2018 with a Brief Look Back, states, “As a new regulatory environment takes hold, we expect that an increasing number of banks will be let out of the regulatory ‘penalty box’ to pursue acquisitions. An increase in able buyers combined with a more expedited regulatory approval process should spur bank M&A activity.”

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Growing Generation Z

Why more and more banks are promoting financial literacy in their communities.

By Alaina Webster

When it comes to community involvement, many banks focus on improving “financial literacy” in their communities. According to a 2017 survey conducted by the National Financial Educators Council, Americans estimate that a lack of financial knowledge has cost them an average of $9,724.83 per person. In fact, 25.52 percent of those surveyed estimated insufficient knowledge of finances has cost them more than $30,000.

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The Future Is Female

Positioning your bank to serve the growing market of women-led small businesses.

By Alaina Webster

According to the 2016 State of Women-Owned Businesses Report by American Express OPEN, women-owned businesses are growing at five times the national average for all small businesses. During the recession years, employment at women-owned businesses increased by 20 percent while employment across small businesses of all types nationally declined 4 percent. Women own 29 percent of all U.S. small businesses, up 68 percent from 2007. In fact, the 2013 State of Women-Owned Businesses Report found that female-owned businesses included 10.6 million U.S. companies, generated more than $1.3 trillion and employed some 7.8 million people, numbers that have only increased in the last four years.

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