thefinancialbrand

8 Technology Trends the Banking Industry Must Watch in 2019

Never before has the importance of technology been greater in financial services. Competition from fintech firms and big tech giants, increased expectations from the consumer, and new innovations connecting data to digital delivery are requiring banks and credit unions to embrace new technologies in order to build winning strategies.

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8 Challenger Banks Traditional Institutions Should Worry About

In the U.S. today, there are at least 40 digital-first challenger banks. The U.K. has more than double that. Now granted, you can debate what is and isn’t a challenger bank until you’re blue in the face.

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Loyalty Advantage Shifts Towards Digital Banks and Big Tech Firms

Trust and loyalty in banking are the foundation of current and future financial relationships. But, as large and small technology firms continue to create solutions that are both easier to use and more responsive to customer expectations. this long-standing foundation is beginning to crumble.

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Artificial Intelligence and the Future of Autonomous ‘Hands-Free’ Banking

Business transitions can prove painful. Consider the automotive industry, as carmakers take drastic steps to shift toward development of self-driving cars. By contrast, progressive banks and credit unions face a more promising path.

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It’s Time to Build Digital-First Banking Units

Banking has been conducted in pretty much the same way for decades. While some of the legacy processes have been replaced by new technology and digital capabilities, much of the foundation from the 1970’s remains.

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The Serious Strategy Behind TD Bank’s Funny New Brand Ads

A new branding campaign, the first from TD Bank in more than five years, is designed to shatter the perception that banking has to be stuffy and stand-offish. Using the tagline Unexpectedly Human, the new campaign campaign relies heavily on humor to convey its main theme, emphasizing a focus on modern convenience and customer centricity.

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Banking With Alexa: What Works, What Doesn’t

The fast-follower strategy has been a perennial favorite among financial institutions. But that approach may be on life support. Global consulting firm McKinsey cautions financial institutions that they must now either be leaders or, at the least, very fast followers. The leadership team at Numerica Credit Union has taken this warning to heart.

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Top 10 Retail Banking Trends and Predictions for 2019

Despite recent uncertainty in the financial markets, the economic outlook for the banking industry remains positive. Regulatory forces are encouraging innovation and new digital technologies provide opportunities to improve customer experiences.

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Three Inefficiencies Financial Institutions Must Correct Immediately

New technologies provide the dual benefit of reducing organizational inefficiencies while improving the customer experience. The good news is that these automated solutions are now accessible to banks and credit unions of all sizes.

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CX Has Massive Impact on Financial Performance of Banking Providers

Differentiation in the marketplace is no longer determined by price, product or location. Instead, leading brands have shown that the power of customer experience – both online and offline – is the most important component of long-term competitive and financial success.

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The Future of Mobile Banking Hinges on New, ‘Ambient’ Technologies

Some day, thanks to digital assistants, smart watches, voice-enabled devices and other technologies, banking tasks will become invisible.

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Best-In-Class Multichannel Onboarding Trends to Watch in 2019

Many financial institutions have realized that every new customer relationship must be cultivated and nurtured to optimize value and loyalty. The importance of deepening engagement through onboarding and building value with cross-selling has never been more important.

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