Banks and credit unions will only gain branch cost savings if they improve their digital offerings. Many consumers aren't that impressed.
Marrying virtual and physical, halving the floor plan, trimming staff to basics, and rethinking mission go into post-COVID expansion drive.
BofA's Erica leads the pack, but chatbot and voice banking are not just for megabanks. Community institutions are getting in.
Digital banking does not normally meet consumer expectations set by digital leaders like Amazon, Netflix, Uber, Spotify or Zoom.
Corporate social responsibility is now an expectation. CSR stories, if authentic, can boost consumers' trust in banks and credit unions. Read Article
If not offered the right digital tools, Millennials and Gen Z will put the funds in fintechs that compete with banks and credit unions. Read Article
Data-driven approaches to developing new ways to serve the needs of individual consumers can ensure survival of banks and credit unions. Read Article
Banks and credit unions would do well to use micro-influencers. Often these people are available, more effective and much less costly. Read Article
Marcus by Goldman Sachs keeps growing by providing high-value banking products that are simple to use and easy to understand. Read Article
Data — finding, analyzing and benefiting from it — drives personalization and customer experience. Improving its use is getting a revamp. Read Article
Reports from banking's front lines as branches reopen paint a different picture from the usual predictions about consumer banking behavior. Read Article
Understanding gender-based differences in banking behavior and perception can help improve financial inclusion and literacy for women. Read Article
Direct bank model's appeal grew during coronavirus crisis and points to need to improve online and mobile channels' ability to fulfill needs. Read Article
Too many financial institutions have undifferentiated brands and inconsistent digital CX, which will hinder them in the post-pandemic period. Read Article
Good financial content marketing is hot, but easily avoidable mistakes produce material that leaves younger generations cold and disengaged. Read Article
A challenger bank's credit marketplace could be seen as a threat or a way forward for banks and credit unions as banking continues to evolve. Read Article
Digital lending automation and advanced analytics are required to meet the future demand for loans in a post-COVID world. Read Article
Customer-centric thinking propelled digital financial brands through COVID disruptions. Such strategies drive a cultural shift for growth. Read Article
COVID showed what banks and credit unions are capable of digitally. To keep the momentum going they must rethink distribution and process. Read Article
Touted for many years as the next big thing, RTP is now beginning to accelerate in the U.S., impacting P2P, payroll, disbursements and more. Read Article
Banks and credit unions increasingly must leverage data, innovation and a platform business model to deliver digital banking solutions. Read Article
In the post-virus era, social media skills will become an even greater competitive advantage, especially for those selling new services. Read Article