Keeping Pace with Digital Demand for Self-Service Payments Options After COVID-19
Did you know that the pandemic accelerated the adoption of digital banking products and/or services by six years? One of the most significant adjustments financial institutions are facing today is learning to keep pace with soaring demand for digital self-service payments options. It’s hard to believe that we’re approaching the end of 2021. It’s been nearly two […]
Delight Your Account Holders with these 3 Tips!
There is a somewhat dated adage in business that it costs five times more to acquire a new customer than it does to retain an existing one. However, in focusing on this data point, many financial institutions lose sight of something even more important—connecting with and retaining account holders, creating positive experiences with your brand, […]
Delivering Seamless and Secure Digital Payments Options
When the COVID-19 pandemic hit in March 2020, millions of Americans had to adjust to statewide shutdowns that lasted for months. During that time, we adapted to living entirely different lives, and digital technology provided many of the solutions that made that possible. When restaurants shut down, we started ordering food to go on mobile […]
How RegTech is Improving Efficiency in the Financial ServicesIndustry
Regulatory technology, or RegTech, was developed in the wake of the FinTech revolution and has been continuously expanding since the financial crisis of 2008. Experts predict it will rapidly advance the regulatory landscape by offering technological compliance solutions for the highly regulated financial services industry. According to Investopedia, “Regtech is the management of regulatory processes within […]
Digital Payments Solutions to Delight Your Indirect Borrowers
Introduction Indirect lending is a large part of many financial institutions’ auto lending strategies. In fact, in 2020, credit unions held $378.2 billion in auto loan balances, or roughly 31.5% of all auto loans in America. Of that, 84.4%, or $319.4 billion, was funded through indirect channels. If indirect borrowers make up such a large percentage of your institution’s auto lending portfolio, and […]
Preventing Online Account Origination Fraud
As consumer demand for more online banking services grows, fraudsters are finding more and more ways to exploit these services. While not a new scheme, online account origination fraud has grown in part because of the prevalence and ease of use of online banking services, and in part because of the number and scope of […]
Creating Frictionless Payments Solutions in These 3 Areas
In the past decade, financial institutions have had to adapt to growing consumer expectations for interactions that are fast, easy, and secure—in other words, frictionless. Frictionless payment solutions make it easier for consumers to complete transactions in whichever way they find most convenient. This in turn creates a ripple effect of reducing queue sizes and […]
Pros and Cons of Self-Serve Banking during the time of Social Distancing : 3 Areas to Watch
Every American citizen, along with the rest of the world, has been impacted by COVID-19, better known as the coronavirus disease. In these uncertain times, businesses are moving to work-from-home operations, events have been postponed or canceled, and school districts across the country have closed their doors. While there are many unknowns and the long-term impact […]
4 Tips to Preventing Carding in a Cashless Age
There’s no shortage of scams affecting consumers and financial institutions alike when it comes to credit card fraud. According to the Federal Trade Commission, scammers ripped off Americans to the tune of $423 million last year through wire transfer fraud. Surprisingly, younger people, ages 20-29, reported losing money to fraud at an alarmingly higher rate than […]
