What Causes Profitability?

August 12, 2014
/   Spotlight

Digital Insight proves that digital bankers actually drive increase engagement and profitability with their financial institution.

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...

Cause and Effect: If you build it, will they come?

/   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...

Platform Shift in the Making

February 13, 2013
/   Insights

What does the banking industry as a whole have to do with Amazon, Microsoft and Apple? Just about nothing—and down the road, it may turn into a major problem (if it isn’t already). Consider...

Infographic: How to Spot a Fake Check

March 8, 2013
/   Insights

The team over at TROY pulled together an infographic on how to spot a fraudulent check. With more consumers using remote deposit capture to upload and deposit checks through their smartphones, it’s important to...

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...

Financial Literacy Month: How are you celebrating?

March 22, 2013
/   Insights

With April approaching, it’s almost time to kick off Financial Literacy Month! Strongly supported by the United States Congress and the Financial Literacy and Education Commission, Financial Literacy Month aims to promote the importance...

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.

 

  • ‘Consumer Reports’ Offers Tips For Doing Taxes Online

All Things Considered

If you expect to have an adjusted gross income of $57,000 or less, the easiest thing to do is use the IRS website — it has a section called Free File. You can prepare and file your federal income taxes for free with one of 15 companies that have signed up with Free File. If you think you’re going to have an adjusted gross income that’s greater than that, you can use the search engine, type in “tax preparation,” and a number of names should come up. One that everybody might know is TurboTax.

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  • Big Bank Breakups and Tech Disruptions: Predicting the Future of Reform

American Banker

Almost everyone in Washington finds some fault with Dodd-Frank. But rather than making smaller, incremental corrections in the short term, Congress could attempt a more comprehensive fix further down the road. To many, Dodd-Frank, which is meant to apply more regulatory pressure on the largest financial companies, tried correcting problems with Gramm-Leach-Bliley, which made it easier for multiline financial conglomerates to operate. Alternatively, the rush of technological change in financial services could serve as motivation to lawmakers to devise regulatory reforms that keep pace.

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  • Social Media Newbie Regions Bank Aces Facebook, Considers Vine

Bank Investment Consultant

Looking further ahead, Liliana Grip, vice president of social media at Regions Bank has her eye on Vine, a Twitter-owned mobile service that lets users capture and share short looping videos. “We’re trying to figure out how to leverage Vine[…]One concern, and Twitter is addressing this, is there’s a lot of [content] that isn’t consistent with our brand. We need to get through some legal and compliance hurdles.”

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  • Consumer Appetite for Comprehensive, Mobile PFM Grows

Bank Systems & Technology

Javelin estimates only 21 percent of U.S. consumers — or more than 49 million adults — mix and match current PFM features from software like Quicken, online banking, and various websites. However, many of those polled indicated that they wold like a way to view all their account balances in one place, with nearly half prioritizing this feature over all the other PFM services.

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  • What Will Retail Banking Look Like in 2020?

Bank Systems & Technology

Opening a new bank branch used to be a matter of simply choosing a location and building out the structure according to a template design. But today, the definition of “bank branch” is being transformed by technology, competitive dynamics and economic pressures. As reported in Jones Lang LaSalle’s recently published Global Retail Banking 2020 study, up to 50 percent of branches in today’s U.S. bank networks may be declared obsolete — although not necessarily defunct — by 2020. Given that branches constitute 75 percent of a bank’s total retail distribution costs, according to research from Capgemini, implementing smart, technologically savvy retail strategies will be critical to driving shareholder value.

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  • Threat of the Week: DDoS Becoming an Expensive Fact of Life

Credit Union Times

The ceasefire is over. Last week, on Feb. 25, the Cyber Fighters of Izz ad-Din al-Qassam renewed their Distributed Denial of Service attacks against U.S. financial institutions. That included again taking down the websites of two credit unions: the $1.5 billion University FCU in Austin, Texas, and Patelco, the $3.8 billion Pleasanton, Calif., institution. They issued the same demand – removal of an anti-Islam video from YouTube – and said their campaign against financial institutions would continue. What is new is that the conversation about how to respond to the industrial-grade DDoS unleashed by the Cyber Fighters is beginning to shift.

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  • Consumers Want More Practical Online Tools, Portable Bank Account Numbers

Financial Brand

According to a study conducted by BT and YouGov, 61% of banking customers in the U.S. favor portable banking account numbers. When asked which three tools they would most like their bank to provide, customers indicated that they would like to see more sophisticated, more practical online tools — all hosted on the financial institution’s main website. The features most desired by consumers include peer review sections (32%), live chat functionality (23%) and compare-my-bank style services (29%). When asked about which three factors would be the most appealing when considering moving banks, the results were fairly consistent across all countries. Good online banking facilities (39%), the presence of a local branch (45%) and the ability to access banking services 24/7 (29%) were ranked highest.

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  • Consumers remain resistant to digital banking aspirations

Finextra

A YouGov poll of consumer attitudes to the introduction of portable bank account numbers has unearthed an underlying distrust of social and mobile technologies and a clear preference for human-to-human interaction via the branch, the call centre and the Web. The BT-commissioned poll of 6500 adults from six countries worldwide, found that the majority of consumers in Spain (76%), Hong Kong (70%), France (64%), Germany (61%) and the UK (62%) all agree that a portable identity number – allowing them to switch banks without changing account details – would be useful.

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  • Five High-Tech Trends Driving the Future of Banking

FOX Business

Here are some of the trends driving the future of banking. Customers will soon be gaining more mobile-banking payment and account options. “We’re going to see a lot more and different products, and a richer (banking) experience,” says Brett King, author of “Bank 3.0″ and “Branch Today, Gone Tomorrow. Banks already are rolling out banking software for iPads and tablets and thinking of new ways to structure bank accounts “that are more purpose-built,” with more options for tracking money and ways to make payments, King says.

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Voices

Compelling voices and contributed content from around the web

Brad Strothkamp

http://www.forrester.com/rb/analyst/brad_strothkamp

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.

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.