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Are Banks and Credit Unions Inhibiting Their Own Digital Growth?

Posted by Doug Parr on Tue, Oct 23, 2018 @ 09:10 AM

Editor's note: Like Tesla, financial institutions must consider the ways to remove barriers to innovation to provide customers and members with the experience they desire.

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Topics: innovation, channels

Defining A Digital Financial Institution - Show Me The Money

Posted by Michael Carter on Tue, Dec 1, 2015 @ 10:12 AM

Editor’s Note: The following is the  third and final installment 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 for general distribution. For the full report contact Celent. The previous installment in this series dealt with legacy systems and organizational culture as the two biggest impediments to banks improving their digital sophistication. 
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Topics: data, digital banking, personalized experience, Amazon-like, channels

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

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

Optimizing Digital Banking Content And Services

Posted by Michael Carter on Thu, May 28, 2015 @ 07:05 AM

The influence of digital access points on the decision by consumers to switch financial institutions continues to grow in importance.  It makes a “business as usual” approach the most significant risk an institution can take in responding to the digital needs of customers.  According to the Accenture 2014 North American Consumer Digital Banking survey, more than one in four customers would likely consider a branchless digital bank.  In addition, nearly three-quarters of US customers—two-thirds in Canada—consider their banking relationship “merely transactional.”  

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Topics: financial services, digital banking, personalized experience, devices, PFM, Millennials, channels

What Can Financial Institutions Learn From Retailers?

Posted by Michael Carter on Mon, May 11, 2015 @ 19:05 PM

An IBM report analyzing 2014 holiday spending shows the distinction and complementary nature of digital devices. Smartphones drove 31 percent of total online traffic, nearly two and a half times that of tablets. While smartphones drove the traffic, more purchases were completed on tablets. Tablet accounted for 13 percent of online sales, whereas smartphones only accounted for 9 percent of total online sales.

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Topics: financial services, digital banking, user experience, innovation, personalized experience, channels

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