What We’re Reading: Mobile Bankers, Millennials, Cyber-Attack Trends

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 Banking Increases the Need for Mobile Bankers

American Banker

Ask a thousand bank managers what makes their bank a better choice than the competition, and about nine hundred and fifty will tell you “our people.” I won’t argue that. In an increasingly commoditized industry, our people can be one of the few true differentiators left. But the model that has them forever sitting in buildings that fewer and fewer people utilize makes less strategic sense each year. The term “universal banker” has become pretty ubiquitous. Universal bankers (usually) can handle anything from assisting with a teller transaction, to opening an account, to performing varying levels of financial needs analysis.

Read more

  • Banking Cyber-Attack Trends to Watch

Bank Info Security

The key for banking institutions in 2014 will be to focus on detecting and mitigating multiple risks across multiple channels. “We will see more blended attacks that combine DDoS with some form of attempted data compromise,” says Doug Johnson, vice president and senior adviser of risk management policy for the American Bankers Association.

Read more 

  • Three Ways Millennial Business Owners Differ from Your Traditional Business Customers

Barlow Research

Barlow Research recently hosted a Webcast panel-discussion on the millennial generation entitled “Banking the New Face of Business: Millennials, Boomers and Dynamos.” Our panel included three very knowledgeable panelists: Himmat Randhawa from Digital Insight, and John Yarley and Alfred Chin from Visa. Through the course of the panel discussion on millennials, we learned three important things about this generation. 1. Instant Gratification Is Expected. Himmat Randhawa from Digital Insight believes that a challenge that financial institutions have with understanding the millennial generation has to do with their usage of technology and their channel preferences. “The vast majority of millennials are tech-savvy and think about the online channel as their primary channel with very little interaction with the offline channels. Millennials want anytime, anywhere access to information and don’t have an expectation to do that in-person.”

Read more

  • Top Reasons Card Data Breaches are Here to Stay

Credit Union Times

By far, the main reason thieves have begun to steal card data from U.S. firms, some experts say, is because they can. “The U.S. payments industry has become the one household in the neighborhood that has not upgraded its security system while everyone else has,” explained Karisse Hendrick, program manager in payments and fraud for the Merchant Risk Council, an international trade group that is organized to help firms fight card fraud. “When you are perceived to have security that is the easiest to beat, she added, thieves will try to beat your security.”

Read more 

  • Ally Bank launches app for Windows Phone 8

Finextra

Ally Bank, the direct banking subsidiary of Ally Financial Inc., has expanded availability of its popular Ally Mobile Banking app to include a version designed exclusively for Windows Phone 8 users, enabling even more customers to access and manage their money “on the go” using the Bank’s award-winning app.

Read more