Banks: sink or swim with FinTech players

November 30, 2015
/   Voices

Banking institutions must engage with emerging financial technology (FinTech) companies or risk being left behind by an industry that is currently undergoing one of the largest transformations ever seen.

Winning the Customer

November 27, 2015
/   Spotlight

It’s exhausting just trying to keep pace, let alone stay ahead. Every provider in every business feels the pinch.

Five ways payments will be different in 2024

November 24, 2015
/   Voices

Predicting the future of cash and card payment volumes is arguably a fool’s errand – but Payments UK, Britain’s new trade organisation for the industry, is in a good place to have a go...

Contactless cards: Opt-in or opt-out?

/   Voices

Australia is toying with the idea of creating an opt-in function for contactless cards, in a move that highlights the problems around coping with new payment technology and how fraud risks are handled.

Five EMV lessons for the US

/   Voices

The EMV liability shift has occurred in the US, so what can we expect to see happen in the coming months and years as a result of this change?

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 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.

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

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...

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...

 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.

  • Smartphone users worldwide seek more mobile banking services

ABA Banking Journal

Smartphone consumers want to do much more mobile banking than most of today’s smartphone apps permit, according to an international survey by FICO. While the most requested functionality is the ability to check account balances (75%), more than half of respondents want to receive notifications of potential fraudulent activity (59%), make payments from their account (53%), and transfer money between their accounts (50%) using their smartphone.

Read more

  • The Biggest Mistakes Banks Make in Mobile App Design

American Banker

How can banks make their mobile apps more competitive? We recently asked Greg Nudelman, principal and CEO of San Francisco-based DesignCaffeine, who has worked with USAA, Intuit, and Wells Fargo on app design, about his pet peeves. Too many people try to approach app development the way they approach web development. ]That’s the completely wrong question to ask. They’re missing the entire opportunity that is presented by devices. You have to start from the ground up. The best way to approach that is lean methodology.

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  • A Guide to Winning the Mobile Banking Arms Race

Bank Systems & Technology

The rapid pace of change occurring in the financial services market largely driven by growing consumer adoption of mobile is permanently altering the retail banking landscape. More and more, offering basic mobile banking capabilities is perceived by consumers as mere table stakes when it comes to evaluating their banking relationship. Differentiation in the mobile channel is critical for financial institutions (FIs) to attract and retain customers and to reap the resulting revenue benefits. To achieve this, new features must be continually introduced, and at a frequent cadence to keep up with consumer expectations.

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  • Psst, Want to Know What Bank of America Spends on Mobile?

Bank Innovation Net

Mobile continued to grow in importance as a channel for the Charlotte, N.C.-based bank, with 14.4 million mobile customers, up from 14 million last quarter and 12 million a year ago. We dug into BofA’s earnings reports and found that CEO Brian Moynihan revealed the bank’s tech spend to grow its mobile channel during today’s 4Q 2013 earnings call. Moynihan said the bank had invested “half a billion dollars in the online mobile platform across the last three or four years, and we’ll continue to invest at that rate.”

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  • Major security holes found in 90% of top mobile banking apps


Security is important in every app, of course, but if there is one group of mobile apps that users want to be secure even more so than any others, it’s probably mobile banking apps. It will undoubtedly come as a shock, however, that a new study has found 90% of mobile banking apps from top banks have serious security vulnerabilities that could potentially compromise sensitive user data. Security researcher Ariel Sanchez of IOActive recently published his findings after diving into home banking iPhone and iPad apps from 40 of the 60 top banks in the world.

Read more 

  • Wells Fargo tests voice-recognition mobile technology

Charlotte Observer

Imagine picking up your phone and being able to ask, “How much did I spend at restaurants last month?” That scenario might be in the not-too-distant future. Wells Fargo has begun testing voice recognition technology that would break ground on how customers interact with their smartphones. U.S. Bank said last year it was testing the technology among its employees. Insurers Geico and USAA have also incorporated voice recognition in their applications. Wells Fargo does not yet have a time frame for launching its version.

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  • Defining Social Media’s Purpose Can Help Produce ROI

Credit Union Times

In 2012, the $55 billion, Vienna, Va.-based Navy Federal Credit Union said it launched its “4 Million Members, 4 Million Stories” campaign as a way to thank its members for helping to reach the member milestone. The concept revolved around members submitting videos to share what they loved about Navy Federal on Facebook and to vote for their favorites to win prizes ranging from $4,000 and $1,000 certificates of deposit to $100 gift cards. During the giveaway, the credit union took the opportunity to promote auto loan refinancing and CDs via a mix of strategically crafted posts and paid Facebook ads.

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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.