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AI and the Modern Marketer’s Toolkit

Posted by Nicole Harper

Jan 9, 2019 11:00:00 AM

Gartner research tells us that CMOs spend an average of 18% of their overall marketing budgets on customer experience (CX) initiatives – signaling the importance of investing in CX improvements to make your company stand out so you can gain a competitive edge. Big Techs like Amazon are already delivering seamless, simple, intuitive experiences, and as they continue to raise the bar for consumer expectations, it’s hard for community banks and credit unions to keep pace. While financial institutions may not have the fun factor of online shopping or content streaming, they still have an opportunity to create delightful and contextually relevant experiences by revving their marketing engine with artificial intelligence (AI).

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Topics: digital experience, Customer Experience, banks, Credit Unions, Marketing

Mobile Wallets: Where are we Now?

Posted by Jennifer Geis

Jan 2, 2019 11:00:00 AM

 

Big Hype Low Volume

The biggest names in Fintech, such as Google, Apple, and Samsung, have invested millions of dollars in mobile wallet technology. Big Banks like Citi, Bank of America, and Chase have followed suit. Yet if we look at the mobile wallet market today, usage has been meniscal, and adoption has been slow. After years of disappointing wallet growth, mobile wallet providers are desperate to make their investments pay off as even more competitors are entering the field fighting for market share. Which mobile wallets are ahead of the pack?

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Topics: banks, Credit Unions, digital banking, Mobile Banking, P2P, digital commerce, Cybersecurity, cards, digital survival, Payments

Help Us Help You: How Providing Content Feedback Helps Everyone

Posted by Molly Mantei

Dec 19, 2018 11:00:00 AM

 

Are you one of the 72% of American online consumers who would prefer to find the answer to your question on a company’s website rather than call or email the company? If so, this post is for you.

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Topics: feedback, banking, Credit Unions, customer satisfaction, Customer Experience, Jack Henry and Associates, retail, awareness, consumer, Relationship Management

False Positives are Positively Costing You Money

Posted by Tammy Bangs

Dec 12, 2018 11:00:00 AM

 

I visit with a lot of BSA and Risk officers in my role as sales engineer for our financial crimes solutions.  And let me tell you something … I hear a lot about false positives. I have heard folks in our industry call these the bane of their existence. Whether it’s with sanctions screenings, AML, card processing or any other type of fraud, getting too many false positives is a bigger risk for your institution than you may realize.

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Topics: automation, AML, BSA, financial services, digital banking, banks, Credit Unions, Financial Crimes, financial institution

Monday Night Football: It’s half-time for CECL

Posted by Brad Dahlman

Nov 5, 2018 11:00:00 AM

 

Fall is my favorite time of year, as the weather cools, the leaves change, and the football season heats up! I enjoy watching NFL football, and am often struck by how the momentum of the game can dramatically change at half-time. To the fans, half-time is generally focused on grabbing a snack or watching highlights. To the players and coaches, this 12-minute half-time break is all about assessing the first half and adjusting the game plan to have a successful second half. Great coaches and leaders find a way to refocus the team, adjust the game plan, and emerge with a team ready to win the second half.

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Topics: CECL, banking, Credit Unions, banks, Risk Management, Financial performance, Football

Banking’s Newest Four-Letter Word: Varo Receives Preliminary Fintech Bank Charter Approval

Posted by Nicole Harper

Oct 31, 2018 11:00:00 AM

 

The four-letter word currently buzzing around the banking world (perhaps among other choice four-letter words) is “Varo.” Recently, Varo received preliminary approval from the Office of the Comptroller of the Currency (OCC) of their application to start Varo Bank – the first mobile national bank. Is this the dawning of a new era in banking?

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Topics: fintech, banks, Credit Unions, FDIC, Vero, OCC, user experience, Federal Reserve

Reinventing Your Card Strategy for the Digital World

Posted by Jennifer Geis

Oct 24, 2018 11:00:00 AM

Cards Come First as Payment-Of-Choice

When is the last time you used your credit card? Most likely, you used it within the last few hours – or at the very least, within the past couple of days. Consumers worldwide are depending upon and using card payments at increasingly higher rates. What’s the reason for the hike in card usage? Cards are convenient. Cards allow us access to a trail of our purchase history. We’re rewarded when using our cards with points, cash back, or other items. And lastly, cards offer a “buy now pay later” benefit that we all can appreciate. According to a study done by VISA and Pymnts.com titled How We Will Pay, 61% of all consumers say speed or trust is the most important reason for using credit or debit cards. Two-thirds of people prefer to use cards or mobile options over cash. And 77% of people would still patronize stores if they dropped cash.

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Topics: credit cards, cards, banks, Credit Unions, Payments, Online Bill Pay, financial institution, Mobile Banking, consumer

Become More #CyberAware about Current Threat Trends

Posted by Karen Crumbley

Oct 22, 2018 11:00:00 AM

Cybersecurity attacks have become increasingly sophisticated and harder to detect. Cyber criminals are getting more creative in their methods to commit fraud by using a combination of technology along with social engineering to yield results. End users need to defend themselves by becoming knowledgeable on how these crimes are executed. Keeping up-to-date on current threats is an important step in safeguarding your information. Additionally, you can create awareness and educate other stakeholders by passing information along to increase your security and asset protection. Below is a list of trends that are occurring in the threat landscape.

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Topics: cybersecurity awareness, awareness, Gladiator, Cyberaware, banks, Credit Unions

The Real AI

Posted by Ron Mazursky

Oct 17, 2018 11:00:00 AM

How often have you called a customer service number and gone through this exchange: “Hello, this is [fill-in-the-blank]. Please say your name. Now say your account number. Now say your PIN or password.” If you get this far, how often did the IVR get it wrong? Finally, in tears, you beg for a real person to help you. Screaming, you demand, “Give me a real person! Give me a customer service agent!” Then either someone picks up the line or you hang up in frustration. This is not AI at work. Not even close to real AI. So, what can AI do for us today?

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Topics: chatbot, AI, artificial intelligence, banks, Credit Unions, voice banking, banking

Top Employee Cybersecurity Training Pitfalls to Avoid

Posted by Karen Crumbley

Oct 15, 2018 11:00:00 AM

A common approach for planning your employee cybersecurity awareness training is to forge ahead, complete it, and remove it from the checklist of “to do” items. Yet any Information Security Officer (ISO) will tell you that their goal for employee cybersecurity awareness training is to have a well-informed staff that is equipped to mitigate fraud.

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Topics: Cybersecurity, Gladiator, Cyberaware, cybersecurity awareness, awareness, banks, IT, Credit Unions

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