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...

Reserve Banking: The New Radical Idea

June 5, 2014
/   Insights

Banking is by nature a very conservative industry. That’s why the current buzz over ‘reserve banking’ is so interesting. Even the term seems innocuous, but the scenario it proposes is nothing short of revolutionary....

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.

  • 43 retail banking myths—busted!

ABA Banking Journal

With the financial services industry changing so quickly, it should come as no surprise that many assumptions banks and credit unions believed to be true for years could actually be rendered obsolete.  Myth 1. Banks must embrace big data to be successful. Reality: Most banks and credit unions have not fully leveraged insight that is currently available within their firewalls. Account ownership, demographics, product use, and other behavior data should be used for offers and communication before adding unstructured data from outside the organization.

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  • Holidays Drove High Use of Mobile Banking Apps

American Banker

December was a busy month for mobile banking, as on-the-go holiday shoppers actively logged into their accounts to check balances or see if purchases went through. In American Banker’s monthly survey of mobile banking activity, more than 65% of respondents said that volume was up in December from a month earlier, while just 2% said activity declined. The rest reported that activity was roughly the same month to month. Several respondents attributed higher activity to the fact that their mobile banking app is relatively new.

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  • Mobile Banking: Making Security and Convenience a Package Deal

Bank Systems & Technology

The key to mobile security success is a multi-layered approach that enables companies to verify who their customers are and what they are authorized to do. The clash between convenience and security has been in motion as the world has shifted to mobile devices, but this is only the beginning. While highly-connected companies have been managing these challenges for years, the speed, scale, and scope of the ongoing business transformation are enormous.

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  • Chase’s Quick Checkout: Leveraging the Power of ChaseNet

Celent Banking Blog

A digital wallet, which stores customer’s payment credentials and shipping details, and pre-fills them at checkout. Like other digital wallets, Quick Checkout is “open” – i.e. customers can register their non-Chase cards. However, their Chase cards will be automatically available and kept up-to-date in the wallet when they get replaced in case they expire or get lost or stolen.

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  • Capital One Ups the Punching Power of ClearXchange

Javelin Strategy & Research Blog

Person to person (P2P) payments are quickly becoming a regular feature of today’s banking industry. ClearXchange, the P2P payment platform that developed as a partnership between Bank of America, Chase, and Wells Fargo, has announced that it has added Capital One to its list of owners. Capital One is the second FI to join clearXchange (the first institution was the regional FI FirstBank) and is scheduled to go live with the service later in 2014. According to Javelin data, the addition of Capital One now gives clearXchange the capacity to reach 40% of all U.S. banking adults and 53% of all adult credit cardholders.

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  • It’s Time to Uncork Commercial Relationship Revenue

Gonzo Banker

There is a brutal feeding frenzy occurring in the banking industry today: the complete commoditization of mainstream commercial and commercial real estate lending. Like a pack of vultures picking at the flesh of a potential new mini-perm deal or term loan, liquidity-rich banks are feverishly bidding down pricing into the zone of shareholder destruction. We see fixed-rate deals for 7 to 15 year terms that carry coupons lower than many banks’ net interest margins. Despite calls for sanity from every senior loan committee across the country, the brinksmanship continues. Business customers have grown savvy, and even the most loyal now send their credit needs out onto the street for competitive RFP bids. Loyalty these days seems to buy about 10 basis points for the banker.

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  • Banking Trojans emerge as dominant mobile malware threat

ZDNet

Kaspersky Lab’s latest mobile threat landscape report portends more ominous news for mobile device users as the number of new malicious programs tailored for smartphones and tablets more than doubled to nearly 100,000 malicious modifications in 2013. The vast majority of the most damaging mobile malware targeted users’ money and bank cards, according to the security software firm’s latest data, and more than 2,500 attempted infections by banking Trojans were blocked last year alone.

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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.