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...

Maybe if the Occupy Wall Street folks heard about this, they’d go after another industry.

The Wall Street Journal reports on a research report from the University of Southern California on the perils of investment banking to your health. According to the study, a range of afflictions, from alcoholism and heart palpitations to eating disorders and a fiery temper, plagued the subjects of the research. In fact, every individual observed over a decade did develop a stress-related ailment within just a few years on the job.

The scientific validity of the study, which is due to see the light of day later this month, will surely be questioned. While nearly 270,000 people are in investment banking category, this initiative involved following only about two dozen closely over a lengthy period. The researcher essentially shadowed them regularly while they put in 80- to 120-hour workweeks. Within four years, the stress of the job was starting to take its toll. Some developed allergies and substance abuse issues, while others were diagnosed with Crohn’s disease and thyroid disorders.

It’s easy to be dismissive of these issues—by its very nature, the field draws individuals who are competitive and aggressive. They know it will require a tremendous physical and emotional commitment. And if they do it right, they will be very well compensated.

However, the new study provides some sharp comparisons to another one promoted recently by the business cable channel CNBC. That one focused on the most stressful jobs of 2012, and in it investment banking ranks. . .nowhere.

The closest is ‘senior corporate executive,’ which clocks in at No. 8, just above ‘cabbie’ and ‘photojournalist.’ It’s also right below ‘Public Relations Executive.’ For the record, the top five are (in ascending order), ‘police officer,’ ‘military general’ (the best compensated on the list, with an average annual income of $196,300), ‘airline pilot’ and, at No. 1, ‘military soldier.’ In this time especially, it’s hard to dispute that last one.

Still, here’s a thought: What, in the business world of 2012, counts as a least stressful job?

CNBC has just such a list too, but this one will likely draw some skepticism—it cites tailors and hair stylists (clearly no one in New York during Fashion Week), dietitians, furniture upholsterers and, at No. 1, medical records technicians.

Maybe the sad reality is that in this cruel world, just about every occupation, in every working environment, involves a certain level of stress. In investment banking (and surely in some other fields) every aspect is magnified—the hours, the competitiveness, the compensation, the pressure, the overall stakes. So is the stress.

By the same token, each of us is unique—we confront many of the same issues, but we deal with different pain points in different ways. Many of us also pride ourselves on taking care of clients better than we take care of ourselves.

Maybe it’s time to find a better balance. Otherwise, any study analyzing the health effects of investment banking—which some see as the premise for a punch line—might have a foregone, and unhappy, conclusion.





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Compelling voices and contributed content from around the web

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.