Key trends in person-to-person payments

July 11, 2016
/   Insights

The emergence of new technology solutions in the past few years has affected almost every aspect of the financial sector, but one area where this is making a real difference is in the person-to-person...

FI Highlight: TotalBank

June 30, 2016
/   Spotlight

With innovation on the rise at financial institutions both big and small, security has become a hot topic in the financial services industry.

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...

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...

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...

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 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...

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 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...

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...

What We’re Reading: Thanksgiving Edition

November 22, 2012
/   Spotlight

Below are interesting stories the 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...

The renaissance in retail banking is here, and not a moment too soon.

Since the economic crisis in 2008, nearly 5,000 U.S. banks have closed their doors, and the rest of the world isn’t too far behind. In the last year alone, more than 600 bank branches have closed across Britain.

While some of this is a reflection of macroeconomic issues, the primary – and growing – threat to banks and credit unions is related to the digital age we’re living in. Declining cost-income ratios, competition from fintech startups and blue chip technology companies, as well as mobile and online banking channels – these are the new realities facing financial institutions today.

However, all is not lost. As we’ve seen with our own clients, the success and survival of financial institutions in our digital age is now predicated on the adoption of consumer-friendly technologies to create personalized, omnichannel experiences.

Today, many banks and credit unions are bridging the gap between their digital content and physical locations. Similar to the retail industry, omnichannel strategies are quickly becoming a key component in attracting and retaining new customers.

The promise of these digital transformation projects has been validated by management consulting firm, McKinsey. Their analysis suggests retail banks embracing digital may see profit gains of more than 40 percent. Further, the inflow of revenue from digital sales can reach more than 50 percent by 2018, according to their estimations. So, what’s there to lose?

Recently we’ve seen more financial institutions at the regional, national and multi-national level, make strides toward digital innovation. And the common thread between all of these projects has been the focus on making them customer-centric, and bringing about positive and profitable change.

Navy Federal Credit Union (NFCU), the world’s largest credit union, has been using tablets in their branches to reinvent the customer experience and to help address some key business problems. Tablets were a cost effective and flexible option enabling NFCU to quickly test and rollout digital solutions across branch locations nationwide.

Replacing traditional teller lines with iPad kiosk solutions, customers interact with self-service touch points to manage all of their personal banking needs. Employees can assist customers if they have questions, of course, but it also frees up bank staff to spend more time focusing on high-value transactions. Additionally, some NFCU branches have infotainment stations where children can play games and interact with educational content.

Salesforce, the enterprise computing company, is also working with banks and credit unions to help them get more out of their digital marketing efforts. The Salesforce Marketing Cloud gives financial institutions the tools to stay connected with their customers at every touch point. By mapping out the customer journey and understanding more about them, businesses can create more intelligent, personalized experiences that can lead to more revenue-driving, cross-sell and up-sell opportunities.

Omnichannel strategies are a new cornerstone for financial institutions. Businesses must focus on the customer experience to drive innovation. The successful projects we’ve seen in retail and now in banks, center around the user not technology. This is a paradigm shift a lot of companies are struggling with, but with smart design approaches and consumer technologies, banks can offer better commercial and customer services.


Tobi Schneidler is the founder and CEO of Bouncepad. In his role, Tobi drives the strategic direction and growth of the business, while ensuring the company continues to shape the future of retail technology and customer experience.


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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.

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.

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.

Brad Strothkamp