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270° View

On Ignoring Pundits, The Theory of Shiny Objects and Untimely Distractions

Posted by Michael Carter on Wed, Feb 15, 2017 @ 09:02 AM

Editor's Note: In this blog, we discuss Nassim Nicholas Taleb's book Antifragile and how it relates to the financial services industry. As consumers become more connected than ever before, it's crucial that banks and credit unions evaluate the industry deeply and create digital strategies for long-term success, not just using what's new.

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Topics: banks, digital banking, credit unions, financial institutions, Digital Transformation, Nicolas Taleb, Forrester Research, Laggards, Antifragile, Leaders

Brexit, English Soccer and Humility

Posted by Michael Carter on Thu, Jun 30, 2016 @ 16:06 PM

Editors Note: In the upcoming 270° View blog series, we discuss the "wow" factor of digital banking. As digital savvy users continue to demand a personalized experience, with the right pieces in place, financial institutions can use big data to provide the 'wow' that their consumers demand. Today we discuss this, Brexit, England Soccer, humility and more!

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Topics: data, banks, digital banking

What Digital Means In Banking: Operating Model

Posted by Michael Carter on Thu, Nov 12, 2015 @ 14:11 PM

Editor’s Note: The following is third in a series of blogs excerpted from a report published by Celent entitled Defining A Digital Financial Institution by Daniel Latimore and Zilvinas Bareisis . D3 Banking has licensed the content used for general distribution. For the full report contact Celent. The previous installment in this series dealt with the the need for financial institutions to provide customers with a personalized, consistent user experience across all digital channels.

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Topics: data, banks, digital banking, user experience, innovation, channels

What Digital Means In Banking: Data Analytics and Automation

Posted by Michael Carter on Wed, Sep 30, 2015 @ 09:09 AM

Editor’s Note: The following is second in a series of blogs excerpted from a report published by Celent entitled Defining A Digital Financial Institution by Daniel Latimore and Zilvinas Bareisis . D3 Banking has licensed the content used for general distribution. For the full report contact Celent.  The previous installment in this series dealt with the the need for financial institutions to provide customers with a personalized, consistent user experience across all digital channels.

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Topics: data, banks, digital banking, user experience, innovation, channels

What Digital Means In Banking: Brand Experience

Posted by Michael Carter on Tue, Sep 1, 2015 @ 15:09 PM

Editor’s Note: The following is part one in a series of blogs excerpted from a report published by Celent entitled Defining A Digital Financial Institution by Daniel Latimore and Zilvinas Bareisis . D3 Banking has licensed the content used for general distribution. For the full report contact Celent.

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Topics: data, banks, financial services, digital banking, user experience, personalized experience, devices, channels

A Digital Banking Strategy For Next Decade

Posted by Mark Vipond on Tue, Jul 28, 2015 @ 09:07 AM

With digital banking adoption continuing to grow, branch traffic dropping and digital devices proliferating, the current approach is unsustainable for most institutions. That is why the results from the 2015 KPMG Banking Outlook Survey held few surprises. The study indicates that 46 percent of the banks that participated will increase their technology spending the coming year. In addition, nearly 40 percent of the bank executives said they plan to make “significant” investments in IT related to online and mobile banking over the next one to three years.

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Topics: data, banks, digital banking, user experience, innovation

Effective Digital Customer Onboarding

Posted by Mark Vipond on Mon, Jul 6, 2015 @ 08:07 AM

Today, customers have a number of options of when and how they communicate their banking needs. However, one thing is certain - they want to do business with financial institutions that make their experience easy, convenient and simple. A customer’s first impression of a financial institution is extremely important and with planning, the digital revolution is making onboarding more easy, convenient and simple.

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Topics: data, banks, advsior, personalized experience, channels

Digital Is The Branch But Many FIs Lack The Personal Touch

Posted by Michael Carter on Tue, Jun 30, 2015 @ 08:06 AM

No one disputes that branch traffic is down and digital use is up at financial institutions. However, there is much debate over the conclusion that such a trend means that branchless banking is just around the corner.  To some, the argument for keeping branches open seems to be backward facing, to a time long gone when most consumers had to make a personal visit to their financial institution to make deposits, open accounts and send money.  Why hang onto branches when all those services and more can be completed on digital devices? To others, the inability of banks and credit unions to personalize the end user’s digital experience makes them hesitant to close the branches where they still do the bulk of their selling.

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Topics: banks, payments, financial services, digital banking, innovation, personalized experience, devices, Millennials, core renewal, channels

Monetizing Digital Banking Channels

Posted by Michael Carter on Tue, Jun 23, 2015 @ 08:06 AM

Financial institutions are awash in data that could enable them to construct the most intimate financial portrait of their individual customers in history including information about transactions, financial holdings, location, biometrics, user experience and social media feeds.

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Topics: data, banks, advsior, financial services, innovation, channels

The Real Threat To Financial Institutions In The Digital Age

Posted by Michael Carter on Tue, Mar 10, 2015 @ 06:03 AM

Christoffer O. Hernæs is executive VP of strategy, innovation and analysis at Sparebank 1 Group, Norway’s second-largest financial institution. His thoughts were recently published in TechCrunch and are second to none I have read when it comes to explaining what financial institutions should fear most about the digital age. 

Here’s the breaking news he offers about that fear: IT HAS NOTHING TO DO WITH TECH COMPANIES WANTING TO BE BANKS. Mr. Hernæs explains, “The cost and complexity of running a bank is not compatible with the fundamental business model of tech companies, and meeting the capital requirements, compliance and overhead associated with running a bank is perhaps best left to the banks.”

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Topics: banks, financial services, Apple, core business, Google, tech companies