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Convenience or Connection? FIs Need Both.

Posted by Hannah Day

Aug 22, 2018 11:00:00 AM

In a rush to meet customer expectations when it comes to digital banking, automation, onboarding, and analytics, many FIs have mistakenly chosen convenience over connection. The result? A tremendous disconnect between cutting-edge functionality and making connections with customers in meaningful ways. Now, FIs are scrambling to repair the rift.

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Topics: Digital Generation, digital banking, Customer Experience, customer satisfaction, automation, onboarding, Analytics

The Next Generation of OFM Is Here

Posted by Bryan Clagett

Jul 25, 2018 11:00:00 AM

The financial industry is in the middle of a generational shift, as digital natives become a larger part of financial institutions’ (FIs) user base.

Adoption and promotion of online financial management (OFM) are meant to maximize user experience and engagement with FIs, yet there are key challenges in delivering user delight:

  • Inability to provide sufficient support for a highly scalable workload
  • Lack of user insights, agile systems, and processes for user retention
  • Digital disruption by third-party payment providers, social media, and alternative currencies
  • Lack of a collaborative platform (involving the user and FI), increasing the complexity of decision making

Given these challenges, FIs need to adopt a comprehensive OFM solution enabling the realization of three key benefits – improved user engagement, internal cost reductions, and increased revenue.

We have identified the key features of an OFM solution that are essential to provide personalized user engagement and enable enhanced, relevant dialog and collaboration.

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Topics: OFM, online financial management, financial institution, FI, user experience, UX, Analytics

The Future of AML and Fraud Detection and Prevention = Advanced Analytics

Posted by Tammy Bangs

Feb 14, 2018 11:00:00 AM

One of the biggest trends in our industry these days is big data. Everything is in the data – it’s right there! Can you see it?

If you are like most community banks, the answer is no. The data you have is powerful. Most businesses would kill to have that kind of access to their client’s information, history, decisions, and behaviors. It’s not for lack of information that your financial institution (FI) may struggle with regulatory compliance issues surrounding AML and fraud compliance. It’s for lack of correlation of that information. 

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Topics: Analytics, big data, fraud

Big Data, Advanced Analytics, and Your FI

Posted by Tammy Bangs

Dec 13, 2017 11:00:00 AM

If you don’t understand “big data,” you’re not alone. I recently saw this quote:

“You happily give Facebook terabytes of structured data about yourself, content with the implicit tradeoff that Facebook is going to give you a social service that makes your life better.”- John Battelle, Founder of Wired Magazine

I think this just about describes it. Even if you’re not on the big data train, your information already is. How, you may ask? Well, unless you live off-the-grid in a yurt, you’ve probably done business of some kind online. Ever heard of Amazon?

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Topics: Analytics, Data

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