Industry

Smaller Banks, Fintech and the Customer Experience

Each year, financial institutions adopt new innovations to continue appealing to consumer demands for faster, simplified service experiences. A 2018 executive survey by NewVantage found that nearly 80 percent of top executives fear that their firms are at risk of disruption and displacement from highly-competitive, technology-driven firms.

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How Often Should I Use My Credit Card?

Depending on the issuer, your credit card could be closed after just three months of inactivity. By Casey Bond, Contributor |March 14, 2019, at 9:00 a.m. How Often Should I Use My Credit Card? You probably know the importance of using your credit card within responsible limits and paying the bill on time every month.

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A Look at Data Analytics in the Financial Services Industry: Use Cases and Challenges

As global fraud continues to grow, data analytics is being used as the secret weapon of financial institutions. Yet there are still challenges ahead for data analytics in financial services. False positives have lead to banks blocking legitimate customer transactions.

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Credit Card Rewards: Easy but Not Cheap

You can’t argue that credit card rewards stimulate spending after almost 35 years since Citi’s American Airlines AAdvantage test, but they come at a price. Some will argue that the best programs come with higher fees. Others argue that they are a losing proposition for credit card revolvers, but at least for now, they are […]

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Smart Payment Solutions: What Is the Payments Industry Doing to Keep Up? – Digital Transactions

Consumers want a frictionless experience. We’ve come to expect certain levels of safety, security, and convenience when it comes to payments. Today, consumers are using their phones, watches, and even their cars to pay for various goods and services.

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2019: The Breakthrough Year for Open Banking

January 2019 marked a year since open banking came into play in Europe. While 2018 saw a steep learning curve for all involved, the next year will start to show serious, market-defining transformation. Will banks manage to capitalise on new ways to stay relevant in the digital era? Marten Nelson, Co-founder and CMO of Token, […]

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Fintech: What’s Real, and What’s Hype

Three years ago, the editors at a top academic journal in finance were concerned. A lot of venture capital was flowing into fintech, or financial technology, but there wasnt much research about the topic coming from academics, who are known for their rigorous testing and analysis.

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How Financial Institutions Can Shift From Product-Pushers to Relationship Builders

When was the last time you had an interaction with your bank or insurance company that wasn’t related to a single transaction — closing an account, buying a new policy, etc. — but instead was focused on your life stage as an individual customer? You probably don’t remember. I know that I don’t.

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E-Commerce Is Wiping Out Mall Retailers One by One. Here’s the Data

Department store sales hit a new record low in the data going back to 1992. E-commerce sales in the fourth quarter soared 12.1 from a year ago to a new record of 132.8 billion (seasonally adjusted), the Commerce Department reported on Wednesday morning.

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A Private Banker for Every Customer

With technology becoming more sophisticated, interactions are becoming intuitive and simple 676Paving-the-way-for-next-level-of-digital-banking.jpg Digital banking is fast attracting interest and investment.

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Why SMEs Need to Do More to Mitigate Fraud (And How)

Recent figures indicate that as many as 44 percent of small businesses in the UK have been targeted by fraudsters with one in four businesses falling victim to fraud. A massive 18.9 billion is the estimated loss to UK SMEs.

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Mobile Coupons Drive Loyalty, Customer Engagement

Do you remember the last time you used a physical coupon? Chances are you probably don’t – and you likely won’t rush to go out of your way to use paper coupons any time soon. Consumers today value ease and convenience above everything else – and couponing is no exception.

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