Items include
- 2 Podcasts
- 245 BID Newsletters
technology
Podcasts
Apr 25, 2024
In this episode, we're joined by Kendra Ramirez, CEO of KR Digital Agency and an expert in Artificial Intelligence (AI), to explore the far-reaching impacts of AI across industries, focusing on how to harness the potential of generative AI in banking.
Apr 11, 2023
Podcast about the different types of digital assets, current regulation as well as thoughts on what could be next. We also explore blockchain technology with a look at current and potential uses related to banking.
Oct 29, 2024
As Bluetooth usage becomes more prevalent and scammers increasingly use it as a way to hack people’s devices, CFIs should pay closer attention to related security measures.
Oct 22, 2024
Board technology committees can help businesses take a proactive approach to technology, helping them more quickly identify and implement technological advancements. We detail best practices for board technology committees.
Oct 1, 2024
The back office isn’t the sexiest place a CFI can use AI, but it might be the spot that makes the biggest impact. We explore which back-office tasks can benefit from using AI.
Sep 25, 2024
Ongoing advancements in biometrics have added convenience and additional security for consumers and retailers alike. As demand for biometric payment options increases, it gives CFIs another opportunity to provide additional services for business customers.
Sep 23, 2024
Mobile driver’s licenses are quickly picking up speed, offering many benefits such as ease of use and new online security measures. But they are not without their challenges.
Apr 21, 2023
Would-be thieves are coming up with more ways to attempt synthetic identity fraud. We delve into some of the schemes you should be on the lookout for, and detail some methods to detect, validate, and minimize losses from such fraud.
Jun 29, 2021
Does your institution use an interactive voice response system? Most do. While very effective at providing round-the-clock customer service, fraudsters are now using them to infiltrate customer accounts. Scammers love IVRs, so we explore four strategies to help you fight this type of fraud.
Jul 12, 2018
One online payments expert sees fraud growing at an even faster rate than digital sales. With all of this in mind, what can community banks do?
Feb 15, 2018
Digital payment channels are becoming faster and more convenient but fraud is a big concern. What your bank should know.
Feb 28, 2024
The decision to convert to a new core banking system is a monumental one. There are many reasons to make the leap so that your institution can continue to grow, though a “rip and replace” may not always be the right option. Determining whether an upgrade to your existing system could save you money, and may buy you time for even more evolved systems to come to market.
Aug 14, 2024
Cloud computing is ubiquitous, but it comes with drawbacks. We discuss why some companies have begun to repatriate some of their operations and storage from the cloud to onsite facilities.
Aug 13, 2024
Voice banking, boosted by developments in AI is gaining traction. We discuss the benefits of voice banking and where improvements are needed to increase value for banking customers.
Aug 12, 2024
Financial institutions are leveraging AI to gain powerful insights, but it requires enormous electrical power. Some are finding ways to reduce energy consumption as costs increase and stakeholders demand sustainability.
Jul 31, 2024
Not all cyber threats are external. That’s why it’s imperative to periodically review which employees have access to which systems. We detail best practices of identity and access management.
Jul 23, 2024
Recent infrastructure failures emphasize the need for robust business resumption plans in banking. We look at eleven practical tips for enhancing business continuity and disaster relief plans, ensuring operational resilience and maintaining client trust during disruptions.
Jul 22, 2024
Access to users’ real-time geographic location information allows CFIs to boost security measures and improve relationships with younger customers. We discuss geolocation data strategies that could benefit your CFI.
Jul 18, 2024
As AI usage increases, so does the need for greater oversight. Is a chief artificial intelligence officer the answer? We weigh the pros and cons of CAIO positions in banking.
Jun 27, 2024
AI-backed CRM systems offer major benefits, but they also involve risks. We outline the challenges of using AI for customer service and share training and security tips to minimize risks.
Apr 18, 2024
Every April, we observe Community Banking Month, publicizing the efforts that community banks make to serve their communities. This article celebrates community banks that are unwrapping new technology and fresh strategies, including developing an AI-based employee information resource, using machine learning to assist with loans and accounting tasks, and using banking product incentives to encourage customers to donate to their communities.
Mar 19, 2024
CFIs don’t need to spend massive amounts of money on technology to remain competitive against the banking industry’s largest players — they just need to be strategic and intentional when it comes to where they spend on technology and the steps they are taking to prepare for the future.
Feb 13, 2024
Bank tech is a rapidly changing landscape. Composable banking — building banking solutions through use of multiple APIs and plug-and-play platforms — offers a way for CFIs to more easily and effectively stay abreast of the latest trends.
Jan 30, 2024
Cloud migration holds big promise for financial institutions. But it’s not as easy to get started with the cloud as it looks. We discuss the current state of business cloud migrations and what pitfalls and challenges to be aware of before migrating to the cloud.
Nov 8, 2023
Using the power of online platforms to offer banking services to customers remotely, video banking can help CFIs retain their competitive advantage and meet customer expectations. We discuss some of the key benefits for CFIs.
Nov 13, 2023
Continued investment in innovation is crucial for CFIs to remain competitive in this uncertain market, but it must be strategic. We outline three steps to ensure new initiatives not only meet the needs of the institution but also deliver tangible benefits that fit with the overall strategy of the organization.
Nov 16, 2023
Smart contracts offer the promise of cost savings and greater efficiencies, and have already begun to see adoption within the banking industry. But while industry experts predict that smart contracts will eventually become the norm, there are barriers to consider before outright embracing them.
Nov 7, 2023
One of the top retail banking trends in 2023 is the evolution of branches. It’s not enough for branches to be spaces in which customers complete transactions. Smart branches integrate with digital offerings and attract current and potential customers in new ways.
Nov 1, 2023
Business loan automation isn’t just convenient for customers — it’s beneficial to CFIs, too. From increasing efficiency to strengthening borrower and employee relationships, we review how adopting a digital loan application process can do so much more than just speed up the approval process.
Oct 23, 2023
Gamification has been shown to increase productivity, enhance learning, and foster employee engagement. We discuss some applications of gamification in banking and how CFIs could incorporate these elements into their digital offerings to boost customer engagement.
Oct 24, 2023
Increased competition from neobanks for small businesses and Gen Z customers, rising tech budgets, and emerging opportunities are just a few of the themes highlighted in Bank Director’s 2023 Technology Survey. We summarize some of the key findings and their relevance to CFIs.
Oct 10, 2023
More than half of tech executives say the chip shortage should be over early next year; some say it has already waned. We review the microchip shortage’s impact on financial institutions and how quickly the changes are expected.
Oct 4, 2023
Emerging technologies and changing work arrangements are increasing the banking industry’s abilities to better serve disabled people — both customers and employees alike. We highlight new inclusive innovations within the industry that CFIs should consider taking advantage of.
Sep 26, 2023
Voice of the customer programs are getting ever more sophisticated, particularly with the aid of AI-powered analytics. We delve into the technical details that would be involved with implementing such programs.
Sep 14, 2023
Biometrics-based payments are growing, accelerated by consumers’ preference for contactless payments. Some institutions, as well as Mastercard and Visa, are now piloting such programs — and CFIs can take advantage of this opportunity. We review the benefits and privacy concerns.
Sep 7, 2023
Many CFIs have invested substantial time, energy, and capital in improving the banking experience they offer to retail customers. Unfortunately, they haven’t paid the same attention to the business banking experience, says a recent study. A full 68% of respondents thought the digital features of business banking were lagging behind those for retail customers. Here’s how your CFI can take another look at the experience you offer, from a different perspective.
Jul 19, 2023
Coastal Community Bank, a leading BaaS provider that works with Greenwood, Bluevine and Walmart's ONE, has introduced its own take on an interactive 3D financial world where consumers can play and sample fintech and neobank offerings.
Jul 13, 2023
Taking steps to make your CFI more user-friendly for persons with disabilities can also translate to greater customer satisfaction. With heightened ADA rules pending, auditing your ADA friendliness is a smart thing to do.
Feb 4, 2022
Website ADA compliance is not new. However, with new technologies to accommodate those with disabilities, community financial institutions need to keep up to speed. In 2021, the number of accessibility-related lawsuits involving websites, apps, or videos increased 15% YoY. Here are three strategies to ensure your website is accessible for everyone.
Jun 28, 2023
You know that your CFI would benefit from updating its technology, but replacing core technology is an expensive proposition. Middleware is a type of software that can bridge the gap between old and new technology, letting you run newer applications without replacing older legacy systems.
Jun 14, 2023
The Internet of Things is growing by leaps and bounds. CFIs need to keep abreast of developments within this area, as non-traditional lenders are actively using IoT-based offerings to differentiate themselves and attract customers. We discuss unique ways the financial industry is already using this technology to enhance offerings to customers and protect their institutions.
May 24, 2023
ChatGPT and other artificial intelligence-backed apps have garnered a lot of attention for their ability to automate written communication, including thought leadership materials, marketing content, and even customer service interactions. They offer both potential and the possibility of potentially expensive problems. Here’s what CFIs should know about emerging AI programs.
May 31, 2023
As a follow-up to last week’s coverage on ChatGPT, we used the platform to write an article about AI’s role in banking. Read on to see what this trending chatbot has to say about the use of AI, and how it can potentially help your CFI meet its goals.
May 23, 2023
Thousands of tech workers have been laid off, creating a much bigger pool of available talent. Trouble at neobanks and fintechs can present acquisition or partnership opportunities, as well as laid-off tech workers. CFIs can leverage these trends by scouting newly available workers and exploring acquisitions to alleviate staffing challenges and broaden their customer base.
May 3, 2023
Cloud computing has been growing fast — perhaps too fast. Executives now think their companies are overspending on the cloud by around 28%. We discuss four ways to evaluate cloud spending and make sure your cloud capabilities align with your institution’s needs.
Apr 20, 2023
Technology is a major factor in the financial institutions that people choose. Remaining competitive requires knowing where your peers and competitors are investing on the tech front. We review the top digital priorities financial institutions have right now.
Dec 15, 2022
We interviewed PCBB’s President, Mike Dohren about the key trends he expects CFIs will need to look out for in 2023, including the impact of a slowing economy, the continued rise of disruptive tech, and key regulatory changes.
Aug 12, 2022
Community financial institutions (CFIs) can increase the engagement of both customers and employees through gamification — rewarding people for completing educational training or tasks via “games.” The results can significantly boost the bottom line as well. We take a look at some examples of gamification strategies CFIs are using to attract and engage new customers and employees.
Sep 9, 2022
Pandemic shutdowns accelerated the adoption of self-service technologies. Now, more and more customers at CFIs expect such services in both digital channels and inside branches. We explore some of the most popular DIY technologies.
Oct 11, 2022
How many features should a mobile banking app contain? According to one survey, the sky’s the limit — provided the app remains easy to use. We delve into the seven must-have features that customers are seeking, as well as five additional features to help your institution’s app stand out.
Jan 10, 2020
Community financial institutions are now getting in on the mobile wallet phenomenon, as more customers demand this service. Is it time for you too?
Oct 3, 2019
We provide answers to our readers' questions on mobile banking, diversity and cloud technology.
Jul 19, 2019
5G is supposed to be 100x faster than 4G. So how can your bank leverage the power, speed and capabilities of 5G to enhance customer service and operations?
May 28, 2019
Eighty-eight percent of community banks offer mobile banking. Yet, there are some banks that are new to this offering. We have some pointers to help.
Mar 1, 2019
What do you need to know about digital-first customers? We shed some light on this topic with insights from a recent survey.
Dec 14, 2018
According to an FDIC survey, 40% of banked households used mobile banking in 2017. We provide more digital banking highlights to help you stay on top of this competitive area.
Aug 28, 2018
A majority of mobile app users expect to be asked for feedback. We look at why this is important and the best ways to do it.
Aug 9, 2018
The worldwide enterprise wearables market was $3.2B in 2016. Community banks will not be able to totally ignore this technology. What are the developments and how can community banks play in this market?
Jul 11, 2018
Eighty-four percent of customers agreed to take part in a video banking session when they were invited. What more should community bankers know about video banking?
Jun 21, 2018
Google is in the process of enabling consumers to execute P2P transactions through its Google Assistant. What to expect in the next few months, when it goes live.
Jun 7, 2018
It may seem as if P2P payments, such as Zelle, will soon be the new standard payment method in the US. Bankers should note this is not the case, but it cannot be ignored either.
May 21, 2018
According to Bankrate, 63% of Americans now have at least one financial app on their smartphones. But, are they happy? How to keep your digital customers satisfied.
Apr 30, 2018
As mobile use continues to rise, banks can get creative with mobile applications - recruitment, benefits and mobile lending are a few areas we address.
Dec 15, 2017
Mobile wallets have been all the rage. But, are they still? What a new study reports which could be important for your bank.
Apr 15, 2022
Compliance-related costs account for about 7% of noninterest costs, according to the Federal Reserve Bank of St. Louis. It is critical to stay compliant, but community financial institutions are also looking for ways to reduce costs. Are embedded compliance controls a way to do both?
Jan 26, 2022
Community financial institutions have been hesitant to use cloud services due to regulatory and security concerns. However, there may be changes on the horizon. More than nine out of ten financial institutions recently stated that they are either using cloud services or plan on doing so within the year. We give you the latest developments on cloud services within the financial industry.
May 5, 2021
RegTech adoption is increasing among financial institutions, especially since digital onboarding grew tremendously during the pandemic. Initially, this will drive up compliance costs, as the manual KYC process is automated. Yet, Juniper Research shows that with a streamlined process in place, costs can be cut by more than $460MM. We provide you with the top three FI RegTech priorities.
Sep 28, 2020
The OCC recently gave banks the go-ahead to provide cryptocurrency custody services. We provide you with some considerations before you do.
Sep 9, 2020
RegTech has become one of the most popular subsets of FinTech development in recent years for effective compliance. Here are three ways it could help your institution.
Aug 3, 2020
Our readers asked us about compliance management systems, AI to improve customer experience, and re-evaluating strategic initiatives. Today, we provide our insight.
Apr 4, 2019
There were 2,258 website accessibility lawsuits in federal court in 2018. Of those, around 130 involved a credit union or bank. We offer tips to keep you safe.
Jan 31, 2019
A new joint regulatory statement encourages financial institutions to use innovative approaches to BSA/AML compliance. We break it down for you.
Jun 22, 2018
A recent survey of community banks and credit unions by Safe Systems finds 33% of respondents said managing and responding to regulations has become their greatest IT challenge. We provide other insights.
Jun 14, 2018
New Payment Card Industry Data Security Standard requirements will go into effect June 30th. What you should know to stay compliant.
Apr 5, 2018
The House of Representatives recently passed the MOBILE ACT of 2017. What is it and what does it mean for your bank?
Mar 29, 2018
RegTech is poised to vault ahead in the next 2Ys on the back of technologies such as Big Data. We provide an update for you.
Feb 1, 2018
Machine learning shows great promise for catching money launderers and other financial fraudsters. Can regulators be persuaded?
Jan 25, 2018
Regulatory technology products can help banks manage increasingly complex regulator compliance. RegTech could make more capital available for more profitable uses.
Nov 15, 2021
Decentralized finance (DeFi) is in its early stages. So, do community financial institutions need to follow this new trend? Yes. One big bank has dipped its toe into these waters and more are likely to follow. Not only that, but also DeFi is seen as a viable funding option for SMBs and the unbanked. Here is what you should know.
Nov 9, 2021
Artificial intelligence (AI) is being used extensively throughout the financial industry. One area that many CFIs are finding AI especially helpful is risk management. In fact, Forrester has found that AI can increase ROI by 4x for risk management and efficiency. Here are five ways to use AI and increase your ROI.
Jun 1, 2020
With the need to move work off-site, community financial institutions have likely turned to cloud service providers to help. We highlight some of the risks and the need for cloud strategy.
May 21, 2019
Remote deposit capture has revolutionized check deposit. But, banks need to be aware of the risk.
Nov 26, 2018
In the world of biometrics, fingerprint identification for mobile bank accounts is on the rise. What you should know about fingerprint ID adoption for your biometrics strategy.
Nov 15, 2018
Many banks use text message authentication, but thieves are finding ways to hack it. We provide an update along with tips to keep you and your customers safe.
Nov 6, 2018
The rate of voice fraud has risen more than 350% from 2013 to 2017 with no signs of abating. What can you do to protect your bank from this new threat?
Oct 16, 2018
A recent FICO study shows 80% of consumers don't see the need for what they consider unnecessary security procedures. How to strike a balance between security and customer satisfaction.
Sep 21, 2018
Money launderers have found another channel - online games. Although this is an unusual way to launder money, staying in the know is important for all banks.
Jul 20, 2018
Open Banking is seen as both a threat and an opportunity for banks. We lay out them both.
Feb 8, 2018
Real-Time Payments bring a new age for payments, as early as this year. But, as all new technologies, there are risks. Ways to mitigate these risks.
Mar 16, 2023
Who says CFIs can’t innovate? We feature a number of very creative CFIs that are coming up with novel ways to serve their customers. Then we detail some pointers on how to best innovate in a safe and sound manner.
Jan 28, 2022
Universal bankers, who can handle a myriad of customer needs, are not new. According to Zippia, there are over 121K universal bankers in the US. If you don’t have any universal bankers, you may want to revisit this particular role. As many transactions are handled online, traditional teller roles are evolving to meet customer needs more effectively and efficiently, boosting an institution’s ROI. Here are five steps to get there.
Aug 22, 2022
The Internet of Things (IoT) is driving innovation in the financial services industry. There is potential for CFIs to use IoT technology to enhance the customer journey and grow their business. We look at these opportunities and give three tips to consider for successful deployment.
Mar 12, 2018
Virtual reality (VR) isn't associated with banking, but some banks are using it to turn intangible financial concepts into immersive virtual experiences.
Dec 5, 2017
Chatbots are more prevalent in banking. Some banks are mixing the efficiencies of chatbots with human interaction so they don't lose the human touch.
Oct 27, 2017
What is the most valuable resource in your branch? We think the human resource. Find out how to align customer desires with the right mix of employees, training and compensation.
Jun 22, 2022
It’s a common problem. Customers want personalized service, but are reluctant to share their personal data to power that. A smooth authentication process, as the first point of contact between a CFI and a customer, can help build the trust that customers need to forge a new or ongoing banking relationship, and offer CFIs access to their information.
Jul 29, 2022
According to a recent report from McKinsey & Co., 71% of customers expect companies to personalize their interactions. Community Financial Institutions (CFIs) have traditionally delivered personalized experiences through their customer interactions and building strong relationships. But now, it’s vital to aggregate, integrate, and analyze customer data in ways that let CFIs anticipate and predict future needs.
Jan 18, 2022
Community financial institutions know their customers well. Yet, this is no time for complacency as competitors abound. Technology is an important tool in understanding your customers’ shifting needs. Here are three key areas to use technology to more effectively respond to your customers.
Jul 20, 2021
The FDIC’s technology lab, FDITECH, recently announced its launch of a tech sprint to provide the right tools for community financial institutions to engage with the unbanked. We give you an update on this project, along with the current costs for the unbanked and the opportunities for institutions that can connect with them.
May 17, 2021
Podcasts are smart marketing. They have a recall rate 4x higher than other digital channels and the number of US podcast listeners is expected to grow 16% YoY to over 106MM. If you want to start a podcast, the steps include planning a series, reviewing other podcasts, and finalizing your podcast format.
May 25, 2021
As the economy opens up more and more, community financial institutions will be looking for ways to use their liquidity and boost SMB lending. We give you a few ways to do that: leverage automated processes, continue to offer SBA loans, boost construction lending (in the right markets), and create new lending niches.
Oct 29, 2020
The majority of bankers these days are working on implementing technologies to keep their customers happy. We give you four mistakes to avoid when doing so.
Sep 1, 2020
AI decision-making systems can help community financial institutions to eliminate bias in credit decisions. We explain how to do it.
Aug 20, 2020
The move to increasingly high-speed networks with 5G is a potent change. We give you four areas in banking that will be affected.
May 29, 2020
Reopening businesses require new protocols -- and it looks like technology will play a major role in these efforts.
Feb 28, 2020
A large percentage of consumers are distrusting of the ability of organizations collecting their data to keep it secure. We provide some ways to reassure your customers.
Jan 30, 2020
Technology can be pretty amazing, but for community financial institutions, it can cause sleepless nights too. We have some suggestions to help.
Aug 12, 2019
Contactless payment has struggled in the US. But, it appears that is about to change.
Jun 25, 2019
HSBC and Goldman Sachs have invested in a fintech platform which allows banks to offer products from their rivals. This may sound counterintuitive, but could it help your bank and your customers?
Jun 14, 2019
Big data is supposed to give banks' customers exactly what they need at the time they need it. Although this hasn't exactly happened yet, we are making progress
May 20, 2019
Chatbots are becoming more sophisticated, and bank customers seem more willing to use them. Is now the time to start using chatbots at your bank?
Apr 10, 2019
Bankers everywhere want to modernize rapidly in order to meet their customers' expectations. To reach that goal, some are seeking fintech partners. What to consider if you find yourself ready for this partnership.
Feb 7, 2019
We explain how one bank is using smartwatches to decrease wait times and increase customer satisfaction.
Jan 17, 2019
Collections are a hassle for all banks for a host of reasons. Some banks are finding new ways to address this age-old issue.
Jan 11, 2019
Competition is growing as agricultural-focused fintech firms (agtech) are entering the market. We offer some tips to help.
Oct 30, 2018
Global digital payments volumes are expected to increase by nearly 11% through 2020. What community banks should know to guide their business customers on the technology and the providers.
Oct 25, 2018
As more people are using bank websites or mobile apps to open accounts or apply for other services, bankers need to continue to improve their web forms. We have some considerations to include.
Jul 27, 2018
A Deloitte study shows customers that can open new accounts easily and relatively quickly are more loyal. We provide the highlights for you.
Jul 26, 2018
Construction lending can be messy and complex. We provide some tips for streamlining.
Jul 19, 2018
Aite Group examined how much time commercial lenders devote to core responsibilities. We provide you with some of the results.
May 4, 2018
Some community banks are shifting from traditional ads to digital ads. Is it worth switching?
Nov 9, 2022
CFIs say their top strategic goal is growing loans. They also say they plan to increase tech spending. Targeting more of that increased tech spending on products demanded by small businesses can help advance loan growth.
Oct 23, 2020
Google has a new certificate program that could rival college degrees and impact student lending. Should community financial institutions pay attention?
Oct 7, 2020
We provide you with some of the latest Ag trends and ways to support your customers through them.
Apr 10, 2018
Only 38% of banks with assets under $1B have a digital origination channel, but interest is strong. What you should know before you go down this path.
Jan 11, 2018
Facebook emerges as a new competitor for banks as it partners with Clearbanc. What community banks should know.
Jan 5, 2018
Imagine the power of knowing where your guarantors are for each loan using connected sensors to better monitor collateral. IoT allows banks to do this.
Nov 3, 2017
E-signature interest among banks reaches all-time high. Find out ways to leverage e-signature to drive efficiency for loans and account opening.
Sep 6, 2022
Online chat customer engagement solutions have been expanding rapidly among banks. But when customers need to switch to a voice conversation, the transition can be frustrating if it requires closing the chat box and then dialing in to connect to an agent again. We discuss ways to take the headache out of online chat for customers and your CFI.
Jan 27, 2022
With gaming revenue reaching over $180B worldwide, some companies are tapping into the virtual worlds of online gaming to market their brands and engage with new customers. While this marketing channel is still in its early stages, some creative and forward-looking community financial institutions may do the research and take the leap. We share an update on metaverse marketing.
Nov 27, 2020
Digital ads have evolved in the past few decades. Is it time to take the plunge? We give you the lay of the land.
Apr 18, 2019
There are some hard-won tricks to the trade when it comes to conducting successful digital marketing campaigns. We share some tips from fellow community bankers.
Jul 13, 2018
The younger millennials and Gen Z already outnumber the baby boomers, and by 2014 already controlled more than $2T in assets. We outline some creative ways community bankers can bring them in as customers.
May 17, 2018
According to a Barlow Research Associates Flash Panel, small business customers appreciate it when their bank proactively offers solutions. How to best do that as customer needs change.
Apr 19, 2018
Big banks have real time messaging as a standard practice, but even some community banks have started this practice. We provide you with the reasons why.
Mar 26, 2018
ICBA's 2018 State of Community Banking Survey finds 66% of community bankers have growth as their top business goal for 2018. We provide the survey's highlights.
Mar 22, 2018
Marketing automation is a dominant theme with banks, as efficiencies are sought. Some tips to start your bank's marketing automation.
May 24, 2021
Digital banking and the PPP were two key drivers in bringing CFIs and fintechs together during the pandemic. This shift in the fintech-financial institution dynamic will likely continue post-pandemic as CFIs look for ways to continue engaging their customers. We explore what fintechs are looking for and the steps CFIs should take for a successful partnership with a fintech.
Jun 7, 2021
Successful core conversions are critical for financial institutions. During the pandemic, these conversions were mainly done remotely out of necessity. This worked quite well, so it will likely continue post-pandemic. The benefits of remote core conversions include speed, efficiencies, and more effective staff training. There are some potential downsides too though. If you want the best of both worlds, hybrids may be the way to convert your core.
Sep 1, 2021
Banking as a Service (BaaS) activity has been steadily climbing, but the pandemic put it into high gear. In 2020 alone, BaaS transactions hit $22.5B and rapid growth is expected to continue. We share the BaaS basics, the banking industry’s response to it, and how a community financial institution is staying competitive with it.
Nov 12, 2021
All travel, including business travel, came to a standstill last year. But, as businesses needed to visit customers, vendors, and other business associates, business metaverses started to spring up. These are virtual environments, like online conferences, that allow 3D interactions between attendees as avatars. We explain more about these virtual environments and why they could continue to be valuable in the business world.
Oct 30, 2020
A new report provides findings on the latest payment trends. We offer you some insights on contactless payments, emerging technologies, and person-to-person payments to help with your planning.
Jul 15, 2020
Physical distancing has accelerated three technologies used by financial institutions to stay connected with their customers.
Jul 10, 2020
With the continued demand for digital, community financial institutions that work with financial technology firms could have an advantage over those that don't.
Jun 10, 2020
COVID-19 and the rush to work remotely revealed to many institutions their technological weaknesses and skills gap. How you can bridge the gap.
Apr 30, 2020
In the 2nd article of our 2-part series, we continue discussing long-lasting customer and financial institution shifts due to the coronavirus. Today, our focus is the financial institution.
Apr 15, 2020
The development of technology within the banking industry has long been on the rise, but the COVID-19 crisis is stepping it up in new ways that could have a long-term, global impact.
Oct 19, 2021
The tech giants have been expanding into the financial industry in various ways. Previously, Facebook tried its hand at cryptocurrency with Libra, which was shot down by the regulators and dismissed by investors. Now, Facebook returns with USD-backed Diem, which is issued through Silvergate Bank. What does this mean for the payments industry and community financial institutions specifically?
Jan 4, 2022
Many consumers are shopping online, but many value the in-store experience with contactless shopping options. Contactless commerce is growing with the advancement of new technologies. “Pay-by-face” and RFID are two of these technologies that are finding more traction these days. We cover the latest in contactless commerce technologies.
Jul 19, 2022
The global microchip shortage is now anticipated to continue longer than expected, possibly throughout 2024. This translates into community financial institutions feeling the impact of this shortage in bank card and credit cards.
Sep 19, 2022
An Iowa credit union has filed a class-action lawsuit against Apple over features built into its phones that limit the payment options people can use outside of Apple Pay. We detail how the lawsuit could impact other big tech companies entering the payment space and the overall banking industry.
Nov 13, 2020
Twenty-five billion connected devices are expected to be in use by 2021. We provide three considerations for community financial institutions when looking at the Internet of Things.
Feb 14, 2020
The private and public sectors are working separately to ensure that all financial institutions will have access to faster payments settlement. We give you the latest update.
Jan 7, 2020
Biometric payments are expected to exceed $1.67 trillion per year by 2023. Is your institution ready for this?
Apr 16, 2019
Biometric payment cards are meant to boost security by embedding fingerprint sensors that match the cardholder's print to a digital image stored on the card. We have more details on this growing market.
Nov 19, 2018
Developments are happening for faster payments systems. What you should know and how your bank can make its voice heard.
Nov 2, 2018
Same day payments shot up 243% in Q2 vs the year earlier period. We give you an update for this fast moving area of development.
Jun 18, 2018
Progress has been made since The Clearing House announced its new real-time payments system back in November. We have an update.
Mar 22, 2023
Cybercriminals are continuously finding new ways to break through financial institutions’ defenses. We look at the increasingly important role of multimodal biometrics in a CFI’s security solution as well as the benefits and challenges of using biometrics for authentication.
Oct 21, 2021
By 2025, experts say that 75.4B IoT devices will be connected globally, which is more than double from 2021. This surge in connected devices increases the opportunities for cyber thieves to find vulnerabilities and cause havoc for entire business systems, including community financial institutions. Do you have updated endpoint security to stop them?
Mar 2, 2020
Our readers asked us about opening banking, cyber-attacks and AI in credit decisions. Today, we provide our insight.
Oct 23, 2018
Unlike traditional biometrics, such as a fingerprint, invisible biometrics use sensors or computer coding that are unknown to an individual. We provide you with the details of this new technology.
Sep 5, 2018
A new report now predicts that in two short years, 1.9B bank customers will be using biometrics to perform a variety of functions. We give you a rundown of the latest in biometrics.
Aug 30, 2018
With the explosion of IoT devices comes increased cyber risk for banks. Guidance from the government has been released to keep organizations safe. We have the main takeaways.
Aug 2, 2018
Celent finds IT spending by US banks has risen by more than $10B in the past 5Ys. We help you avoid IT spending mistakes to get the most bang for your buck.
Jul 31, 2018
Accenture reports that the data many banks base business decisions on is easily manipulated. We provide you with the key takeaways of this report to help ensure your data is reliable.
Jun 26, 2018
The number of identity fraud victims last year rose by 8% to 16.7mm US consumers, despite widespread efforts to stop this type of fraud. What more can your bank do?
May 15, 2018
A new survey by Safe Systems on community institutions and their IT staffing practices sheds some light on what your peers are doing, and what you can do to stay cyber safe.
May 2, 2018
According to a 2018 IT survey by Safe Systems, about 50% of community institutions said they had more than 100 devices connected to their networks. We provide learnings from this survey.
Apr 26, 2018
Mobile apps - including banking apps - are more at risk now than ever before. A Verizon report provides details on the types of risks and the practices recommended to protect your bank.
Mar 15, 2018
As information security has become an increasingly important issue for banks, more community banks are looking into hiring experienced CISO talent. Ways to attract the right person for this role.
Dec 11, 2017
Cyber thieves will typically go after the lowest hanging fruit. Areas of concern for banks: new account application fraud and deposit account hijacking. What can your bank do to mitigate these?
Nov 27, 2017
The latest biometric technology is facial recognition yet bank customers are wary. What bankers should know.
Jan 17, 2023
Trends in IT spending are constantly changing among CFIs. They also serve as the best roadmap for where the banking industry is heading. We provide an update on the latest investments financial IT teams are prioritizing, including three major trends.
Oct 24, 2022
With voice technology gaining in popularity, there are signs that voice banking may be catching on. Many financial institutions are investing in this area, providing further choice for consumers to access banking services. We give you an overview of the voice banking space and three considerations on how CFIs could approach this emerging channel.
Sep 29, 2022
A recent study by McKinsey found that bank customers voiced overwhelming support for digital transformation, with three of four saying they would be willing to try digital account opening. But only 15% said they had actually opened an account digitally. What accounts for this difference between thoughts and actions, and how can CFIs bridge the gap?
Aug 15, 2022
Many community financial institutions are not yet seeing strong returns on their digital transformation investments. As most are still undergoing a transformation, it’s not too late to rethink your strategy and incorporate some of the lessons from the early adopters.
Jul 26, 2022
Eighty percent of financial institutions plan to move away from mainframes and embrace cloud computing within the next two to five years. From lower costs to greater capabilities, the switch to cloud computing is something CFIs can no longer ignore or leave on the back burner.
Jun 28, 2022
Partnerships between CFIs and fintechs are an increasingly important part of any CFI’s business model. However popular, it’s not a given that fintech-directed private equity is a good fit for every CFI. We provide you with some things to consider before you decide to invest.
Jun 15, 2022
In addition to email and telephone, businesses began using video conferencing and instant messaging at high volumes, as a result of the pandemic. Fast-forward to today and financial institutions are faced with the problem of adequately documenting employee communications across all of these channels. To begin addressing the problem, it’s important to understand the challenges that these platforms present and how to solve it.
May 18, 2022
Blockchain technology promises many benefits to financial institutions, as they adapt to meet changing customer and stakeholder expectations, as well as regulatory requirements. Some experts argue that, while there are still many logistical challenges to overcome, blockchain has the potential to completely revolutionize the future of finance. We look at four applications of this technology that may be advantageous to community financial institutions in the future.
May 4, 2022
There is lots of hype around the metaverse at the moment, with various observers forecasting an $8T opportunity. While this is an evolving space and much is still unknown, we look at various potential opportunities for the financial services industry.
Apr 13, 2022
Faced with shifting customer expectations, new business models, and increased competition, community financial institutions are turning to technology to remain competitive. We round up five of the key trends that continue to reshape the industry and explain how your institution can use them to stay competitive.
Feb 3, 2022
Community financial institutions are turning to artificial intelligence to help manage risks, improve customer service, and save costs. If you are wondering how they do it, we share a few success stories, while tackling the main issue of algorithmic bias and providing three strategies to help mitigate bias.
Jan 14, 2022
Augmented reality (AR) has been around for a while, but the market is expected to grow a hefty 31.5% between 2021 and 2026. With the drive towards all things digital, financial institutions are now looking more closely at AR as a way to continue engaging with customers and training employees. Here is the latest update on this growing technology.
Dec 20, 2021
Core providers may not be the first thing that community financial institutions think of when looking for ways to innovate for their customers. However, core providers can prove to be helpful partners as you develop and manage innovative solutions. Here are four considerations to tap into all that your core has to offer.
Nov 19, 2021
Coinstar machines have started offering bitcoin as an option for coin exchange. This move provides greater access for cryptocurrency aficionados and even gives users the option to send and store money. Coinstar and other cryptocurrency ATMs are mainstreaming bitcoin. As financial institutions are taking notice, we will explore the latest on cryptocurrency exchange machines and crypto banking.
Dec 10, 2020
Open banking is here to stay. We explain what it is and why it is important for community financial institutions.
Nov 1, 2021
Google has announced it is ending its embedded banking experiment, Google Plex. But with many other big nonfinancial brands making forays into the space, and embedded finance startups receiving over $4B in investment this year alone, it seems likely that embedded banking is here to stay. We explore what this could mean for community financial institutions.
Sep 28, 2021
This year, the number of digital banking users will reach 197MM. Bankers may find it difficult to hire IT staff to keep up with the growing number of digital banking customer and all their expectations for continuing digital advancements. But, there may be a solution with low-code or no-code software options. We explain what low-code/no-code is, why it may be a good option, and provide a few examples from your peers.
Sep 9, 2021
Strategic planning is starting and your institution will likely be discussing various technology initiatives. Wouldn’t it be helpful to know in which areas other financial institutions were investing? We give you the highlights of a recent survey on the spending priorities for financial institutions to guide you for next year’s plan.
May 7, 2021
Artificial intelligence (AI) is all around us. Financial institutions are using it for efficiencies, compliance, and customer experience enhancement. We cover the four main areas of AI, natural language processing, computer vision, data analytics, and automation and map out the steps that institutions can take today.
Sep 14, 2020
If your institution has an app, how do you stand out in the crowd? We give you some tips to do that.
Sep 18, 2020
We explore the findings from a recent survey on the role of core providers in the technological strategies of financial institutions these days.
Oct 1, 2020
The pandemic has prompted CFOs to rethink how to manage their responsibilities using automation. We give you some insights from a recent report.
Jul 17, 2020
According to a recent Citi poll, 91% of bank customers prefer an app to visiting a branch. This might be the right time to develop your banking app.
Jul 29, 2020
A technology that is being used abroad by some bankers and their customers may hit our shores too - know-your-customer (KYC) video authentication.
Aug 5, 2020
Could Banking-as-a-Service be an option for your institution? Let's explore the "whys" for your institution.
Jan 24, 2020
Digital licenses are quickly gaining traction and could significantly impact the way that the banking industry verifies an individual's identity. We give you an update.
Feb 6, 2020
Developing and refining a successful technology strategy is important, but challenging. We give you some guidance.
Feb 7, 2020
Smartwatch banking used to be only for the most tech-savvy financial institutions. But now, it can be another nifty tool for community financial institutions to offer, particularly to millennials and Gen Zers.
Feb 13, 2020
Digital IDs have been developing in various forms. Today we discuss MasterCard's version.
Feb 21, 2020
With all the focus on artificial intelligence, it can be easy to overlook a far simpler but effective cousin: automation. Today, we look at how automation (then AI) can help your institution.
Mar 10, 2020
Just when you map your digital journey, another player shakes things up or technology zooms ahead in a big way. Here is how your institution can prepare.
Mar 12, 2020
A growing number of employees are suffering from things like stress, burnout, and even depression. Chatbots may help.
Dec 4, 2019
Facebook's AI researchers are making huge strides with chatbots, so they can communicate in a more human-like way. Should you consider chatbots?
Dec 9, 2019
The new fast-track bank charters for fintechs just got pushed into the slow lane by a federal judge. Should this change your strategy?
Sep 4, 2019
Data aggregation is growing quickly, especially in the banking industry. Is your institution prepared?
Sep 24, 2019
As AI becomes increasingly prevalent, community bankers may want to take the time to include an AI strategy in overall strategic goals. We provide some direction.
Oct 11, 2019
As you look to level the technology playing field, you may want to consider the latest ATM advancements.
Oct 22, 2019
Despite close to $5T invested in digital transformation, most consumers don't experience notable progress. What you can do to make the biggest impact in digital with your customers.
Jul 5, 2019
Lately, fintech has become an increasingly popular topic of study for college students and working professionals alike. How your institution can benefit from this new trend.
Mar 4, 2019
Community banks looking at P2P platforms have a variety of solutions to look into. We guide the way.
Apr 3, 2019
People expect their banks to operate more like leading technology companies. But, many banks still fall short of these expectations. A Deloitte survey uncovers the gaps and suggests what banks can do to improve.
Jan 14, 2019
A few community banks are trying out the "subscription model" to attract and retain younger customers specifically. What to consider if you want to test this model.
Jan 16, 2019
Artificial intelligence early adopters have much to share on their learnings. We give you the highlights.
Feb 14, 2019
Now that AR capabilities are available on both Apple and Android mobile devices, some banks are starting to offer apps with AR features. We provide some interesting examples.
Oct 12, 2018
Tech budgets for banks are increasing, as fast-paced developments continue. Compare your budget and tech strategy to that of your peers.
Oct 17, 2018
According to the Economist, one of the top investment categories for global bankers is all things digital, to meet the evolving demands of customers. What community banks can learn from these bankers.
Sep 24, 2018
The surge in fintech activity has many possible repercussions for community banks. What the latest advancements mean for your bank.
Sep 27, 2018
As bank technology ages, many community bankers are faced with a decision: what should you do about your core? We have some options for you.
Sep 28, 2018
With so many options available, what is the best way to recruit solid employees these days? We offer insight from a recent report.
Jun 29, 2018
According to one survey, 81% of regional and community bankers say they are already collaborating with fintech firms. We look at the latest developments between fintechs and these banks.
Jul 10, 2018
Seventy percent of bankers say their legacy systems cannot adapt quickly enough when customers want the latest functionality. We cover some options.
Jul 16, 2018
Gartner estimates that by 2020 chatbots will be handling no less than 85% of all customer service interactions. We provide the basics on chatbots.
Jul 17, 2018
We continue yesterday's discussion on chatbots with some key considerations for community bankers.
Jul 24, 2018
Although there is no one-size-fits-all answer, for some banks, in-store branches may be the right solution. We provide the pros and cons.
May 11, 2018
There are useful lessons that can be learned from Amazon, even for community banks. We lay them out for you.
Feb 21, 2018
As younger customers are drawn to new technologies, your bank will want to stay in the loop. We have an update for you.
Feb 22, 2018
Do your small business customers want to use a remote deposit check service? A recent survey says they might.
Mar 5, 2018
One Northeast bank CEO went on a "listening tour". Find out what he heard and how it could help your bank.
Mar 8, 2018
The banking industry ranks 8th in terms of its adoption and investment in AI, yet areas such as fraud detection are growing. An AI update for community banks.
Mar 13, 2018
Central banks are deciding to get into the big data game. Learn how they use it and why it may be time for your bank too.
Mar 19, 2018
Most organizations still do not realize the true scope of digitization. Insights from the latest research could help your bank.
Mar 23, 2018
Banks of all stripes are hiring students and recent graduates as interns. How to start your own intern program to attract young talent.
Apr 6, 2018
Big Data promises a lot. But, it is important to structure the data you have, before you can maximize the customer experience. What you should know.
Jan 2, 2018
We recently surveyed community bank CFOs to uncover their strategic focus for 2018. Find out how your goals for 2018 compare with those of your peers.
Jan 3, 2018
As the pace of innovative products picks up, community banks may look for greater flexibility and more features. Should your bank be using APIs?
Jan 19, 2018
Engaged employees are better performers. How to obtain faster employee feedback that drives higher morale and engagement.
Jan 29, 2018
The human element is still important to US bank customers. How to reconcile this with the digital banking experience.
Feb 9, 2018
A third of customer service inquiries actually need live support, yet the majority of bank customers still regularly seek out live support. How to balance live and tech-based customer service.
Feb 14, 2018
Over a quarter of surveyed millennials said they would choose Bitcoin as an investment over stocks. How to talk to your millennials about cryptocurrencies.
Oct 26, 2017
Recent research by APT found 60% of banks list channel migration as a strategic priority. How can community banks most effectively migrate customers to online and mobile channels?
Nov 13, 2017
There is a new generation that could prove to be the best customers of your bank. How to start attracting them today.
Nov 30, 2017
80% of mobile banking and payments users say they want to use biometric authentication. What your bank should know about the recent developments of biometrics.
