Tag: Consumer banking

How to execute a digital strategy to support changing expectations

It’s no secret that financial services organizations are on a digital transformation journey. With increasing tech savvy customers and a growing millennial community, today it seems that everyone is seeking a better digital experience. But one channel does not support all – so how do you balance the needs of your different demographics. Join Jay…
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February 3, 2018 0

Zelle’s anti-fraud efforts trip up key group: Its users

The person-to-person payments service Zelle differentiates itself from rivals by promising users that transactions sent over its network will clear in near-real time. Yet in recent months, the service has faced a number of complaints from consumers who say they are having problems sending or receiving money or setting up accounts in the first place.…
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January 17, 2018 0

New CEO’s challenge: Bring bank into 21st century

At Carter Bank & Trust in Martinsville, Va., 2018 is likely to go down as the year the $4.2 billion-asset company stopped competing with one hand tied behind its back. Carter Bank is in the midst of a comprehensive overhaul of its operating system that, when completed in the third quarter, would allow it to…
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December 29, 2017 0

Doing customers wrong allows your competitor to make things right

A few years ago, I attended a session at a community banking conference on how to build a successful balance-transfer credit card program. The speaker summarized the unofficial motto of his bank’s program as: “We want customers to pay off all their balances … except ours.” Everyone in the room laughed. It was a small…
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December 20, 2017 0

Small banks can make it without a tech makeover

Bank futurists seem to coalesce around the same prediction: Technology will take over banking. So banks must get on board, they say, with data mining, artificial intelligence programs and other high-tech services — or they risk their demise. Few people take issue with the premise of this argument. Technology and online banking is, after all,…
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November 2, 2017 0