EMV migration FAQs

October 12, 2015
/   Voices

EMV is the global benchmark for credit and debit cards that incorporate chip technology.

Big rise in Australian card fraud

October 9, 2015
/   Insights

Cases of card not present (CNP) fraud are continuing to rise across all corners of the globe, as EMV forces criminals away from traditional fraud channels.

EMV is Here: Tips & Tricks You Need to Know

October 7, 2015
/   Insights

The EMV (Europay, MasterCard, Visa) shift went into effect on October 1, 2015 and a majority of large retailers and merchants have upgraded POS terminals to accept EMV chip cards. Despite this new mandate,...

FI Highlight: BankMobile

October 2, 2015
/   Spotlight

Financial institutions that aren’t developing and catering to the wants and needs of younger demographics are missing out on huge opportunities for growth. Luvleen Sidhu, Chief Strategy and Marketing Officer at BankMobile, spoke with...

EMV Liability Shift: Are You Ready?

September 28, 2015

The talking is nearly over for the US payments industry as October 1st sees the all-important EMV liability shift. Chip cards are being issued to consumers and merchants are upgrading their point of sale...

The 5 Most Dangerous Mobile Banking Habits

September 14, 2015
/   Voices

Mobile banking grows more ubiquitous every year. 52 percent of smartphone owners with a bank account use mobile banking, according to the Federal Reserve, and more than half of users log in at least...

The Case for CSR

September 7, 2015

The demise of a New York City law shouldn’t stop good works

FI Highlight: Nusenda Credit Union

September 1, 2015
/   Spotlight

While it is important for banks and credit unions to consider the needs of consumers, it’s also important for FIs to take employee needs into consideration as well. Michelle Dearholt, SVP of Human Resources at Nusenda...

Is a .bank Domain Right for Your Bank?

August 28, 2015
/   Voices

With the general availability of the .bank registry under way, more than 5,500 applications from over 2,200 banks have already taken place, according to fTLD Registry Services.

Can Smartphones Solve ATM Skimming

/   Insights

ATM skimming remains a big business for organized crime rings. According to a recent article in ATMMarketplace.com, card skimming accounted for more than $2 billion in losses. One new approach that banks are exploring...

Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

December 18, 2013
/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Making Banking Fun: Gamification in Financial Services

August 5, 2013
/   Insights

Recently, the Banking.com team sat in on American Banker’s webinar, “Gamification in Financial Services: Five Proven Ways to Get an Edge,” which shared how leading brands in financial services have applied gamification to reach...

Small Business: Perception vs. Reality

November 21, 2012
/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Technology M&As: The Beats Go On

May 29, 2014
/   Insights

The ongoing fascination with Apple’s $3 billion purchase of Beats Electronics is entirely understandable, because it’s a cool story. However, it also says a lot about what’s going on between finance and tech.

What We’re Reading

May 5, 2011
/   Spotlight

Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below. Virtual Banking Worlds Provide Tangible Lessons American...

What We’re Reading: Thanksgiving Edition

November 22, 2012
/   Spotlight

Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom. Mobile Thursday? Plans for Thanksgiving...

There are a couple basic rules when it comes to dealing with customers: don’t get mad, be proactive, and treat everybody with respect. But what about customers who vastly differ in age? When a millennial business owner comes to your bank with their potential business, do you treat him differently than if he were a Baby Boomer? Maybe you should be.

Here are the major differences between Millennial business owners and Baby Boomer business owner, and what they’re looking for in a bank:

Millennial Business Owners
First of all, according to Pew Research, Millennials are defined as anyone between the ages of 18 to 34 in 2015. When you think about how Millennials are in the workplace, you can assume they’re very similar in nature when it comes to running their own businesses. They’re passion-driven, multi-tasking, flexibility-loving workers, and it shows in how they’re tackling entrepreneurship.

TechCrunch goes so far as to suggest that, because of these values, Millennials are destroying the traditional bank, and it’s the banks’ fault. Just as they want ease and flexibility from the workplace, they want it from their banks, too. They want everything online, they want things simplified, and they don’t want to have to go in and talk to an actual employee face-to-face to get anything accomplished.

Try and keep all of this in mind when you’re selling your service to young entrepreneurs. Let them know about your online options, highlight the ease in which they can perform transactions, and leave out anything about “traditional values.”

Baby Boomer Business Owners
Boomers are defined as anyone between the ages of 51 and 69. Boomers, on the other hand, have grown up with the traditional definition of a bank. According to Gallup, half of Boomers report over $100,000 in investable personal assets, compared with 37% Generation Xers and 14% Millennials. Boomers have been, and still are, very active in the banking scene. They’re borrowing, spending, and investing their money, so they’ve become accustomed to what a bank is and should be over the years.

As business owners, they want the same quality they’ve grown accustomed to as regular customers. They want to know about retirement planning, and they want great customer service. Though boomers tend not to mind coming into the bank as much as Millennials do, they, too, are starting to hop on the mobile banking train. In the same article as mentioned above, Gallup found that 71% of Boomers are using online banking services weekly.

So when you’re selling your bank to a Baby Boomer business owner, don’t forget to mention your mobile banking options. Every business owner is busy, no matter the age, so convenience is a good selling point for everybody. Additionally, let them know that customer service is important to you. And, lastly, remember that no Baby Boomer appreciates the nickel and dime routine. Every business owner can expect a loan application fee, or a fee to upkeep a checking account, but anything like a charging for processing, or too many withdrawals will earn you a complaint from a Boomer.

Deborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @deborahsweeney and @mycorporation.



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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Brad Strothkamp


Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.