Banking

  • Why Commercial Banks Are Turning to Proximity Technology

    … indicators. “The financial industry is historically considered to be very traditional, but it’s actually an industry that’s leading the way in exploring alternative forms of data – like location and proximity – to make smarter choices in the market,” says Thomas Walle, CEO and co-founder of Unacast, the proximity platform behind Proximity.Directory…

    Stephanie Miles/ Street Fight- 10 readers -
  • ‘Connect your jeans with your suits’: How technology is changing bank leadership

    … on broader back-end technologies and focuses on how to move the organization, according to Stephen Greer, a banking analyst at Celent. “Those roles are getting more ambiguous especially as you have the CIOs looking at more innovation organization-wide,” he said. “Organizations are starting to think of the CIO more as chief innovation officer than the chief…

    Digidayin How To's- 12 readers -
  • Samsung is working with banks to roll out retail pop-ups

    …: a bus promoting a certain bank that drives a number of customers to an NFL game; a university campus presence where banks look to attract customers as they become of banking age; a shopping center that normally just has ATMs where banks could roll up for a weekend service to attract these potential new customers. Samsung, the consumer electronics giant…

    Digiday- 25 readers -
  • ‘The house Jamie built’: How JPMorgan Chase became the industry’s conscience

    … For anyone who works at, for or with JPMorgan Chase, there’s a familiar mantra that runs through the entire company. It’s “do the right thing,” a Chase principle that emerged in CEO Jamie Dimon’s first annual letter to shareholders as CEO in March 2006. “Jamie always says, ‘you know what the right thing to do is, we all know what the right thing…

    Digidayin How To's- 26 readers -
  • Banks are falling behind when it comes to understanding — and using — data

    …. But with the shift to open banking systems and the integration of AI technologies, banks will soon look to emulate the monetization models of companies like Facebook and Amazon to create incentives for customers to generate more data and new types of data. “Banks are just starting to think about data as a revenue source,” said Bradley Leimer, head…

    Digiday- 17 readers -
  • How much of a threat to finance is a ‘Bank of Amazon’?

    … The Digiday Retail Summit is coming up at the end of July and we just opened up a few complimentary passes for brand and retail executives. Interested? Apply here. It seems like there’s nothing Amazon can’t do: Cloud computing services, music and video streaming, payments, credit cards, small business lending. “They’re the everything store…

    Digidayin How To's- 20 readers -
  • More than a cash dispenser: How banks are rethinking the ATM

    … Arguably no banking technology in the last 50 years has been as disruptive as the ATM machine, celebrating its birthday Tuesday. Banking may look different on the surface, but its core functions look the same. Growth of mobile banking usage is slowing, mobile payments haven’t really taken off, and banks are re-investing in their branches…

    Digidayin How To's- 18 readers -
  • The retailpocalypse: Bank branches are closing in droves

    … locations, a 3.4 percent decline, from 2012 to 2016. Wells Fargo closed 98 branches, a 1.6 percent decline in the same period. Its peers are even more aggressive. Bank of America closed 243 branches (16 percent) in that period and Citi closed 302 (28.5 percent). Branches are consolidating locations with lower servicing volume, opening in higher…

    Digiday- 14 readers -
  • How banks are using virtual reality

    … Virtual reality has emerged as a hot topic in banking with the rise of artificial intelligence, innovation labs, and the eath of the physical bank branch. There’s a way to tap into the mind of the customer through VR, but how it should fit into the business is still a mystery for most. Venture capital funding in VR totaled $2 billion from 2015…

    Digidayin How To's- 20 readers -
  • Citi CMO Jennifer Breithaupt: Marketing is joining the front lines of banking

    … When it comes to legacy banks, Citi has been one of the front-runners in tackling new technologies. It was one of the first to transform its branches to “smart branches,” offer a mobile-first banking experience for high net worth clients, and has been a mobile banking innovator, introducing functions like charge disputes, and card replacement…

    Digiday- 19 readers -
  • What it will take to make digital identity real

    … The biggest problem with digital identity is that it’s sort of just a pain in the ass. As banks, governments and e-commerce giants try to solve the issue of customers having account overload and password amnesia, the problem becomes that security is just inconvenient: there are so many required security specs for passwords, are many different…

    Digiday- 19 readers -
  • The state of bank innovation in 5 charts

    … innovation labs and digital hubs and creating C-suite roles dedicated to leadership in innovation. Smaller institutions have been thinking about a digital overhaul for just as long, but without the resources to invest in fintech initiatives or the massive customer base to test pilots, they’ve been slower to move. Below is a look in five charts…

    Digiday- 17 readers -
  • How Kasisto avoids the financial chatbot fatigue

    … There’s an entire financial chatbot ecosystem emerging in the artificial intelligence space. Chatbots, designed to simulate conversations with human users, have existed for a long time. Now, with so many millennial consumers who prefer digital interactions for accessing and managing their financial services, chatbot popularity has erupted…

    Digidayin How To's- 29 readers -
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