Data is the topic that every financial institution is talking about – it seems to be everything to their future. There are many ways that data is accessed, and there are a variety of tools that are available for gathering and analyzing it.
Banking consumer's expectations, Digital banking and clean data, Fintech's untapped market: Essential Banking News
Last week's news talked about banking consumers technological expectations and how clean data might mean getting more out of you digital banking technology.
Digital banking has become one of the most important investments for financial institutions today. From the onset, it seems simple enough to put in place the right tools, gather data, and then use that data to make decisions. Yet, like with anything else, you get what you put into it. In short, if you do not have high-quality, clean data to build a foundation from, you cannot achieve the best possible outcome. For those looking to utilize artificial intelligence, for example, to achieve the most bottom-line benefit from digital banking, it is critical to build a strong foundation of clean data.
AFCU receives rave mobile reviews, 2018 feeling like 2006, Wells Fargo discloses gender pay gap: Essential Banking News
This week look back on the rave reviews coming from AFCU's mobile app and the scary thing about 2018.
Rocket Mortgage meets Amazon, Coast Capital partners with MX, Banking and the digital era: Essential Banking News
This week we look into what Amazon did to get their foot in the metaphorical door of mortgage financing and the MX and Coast Capital partnership.
Financial institutions are facing increasing competition, bigger demands from customers, and the need to reduce costs all at the same time.
Yahoo Finance releases savings app, OCC cautions banks, Citi to shape digital banking: Essential Banking News
Last week Yahoo Finance is rolling out a new savings app and the OCC is asking banks to proceed with caution.
3 crucial banking challenges; CFPB legal battle isn't over; Wells Fargo partners with Fitbit: Essential Banking News
Last week in banking we looked into the 3 crucial challenges facing banks in 2018 and more on the CFPB legal battle.
The banking industry, like many other industries, is poised to experience unprecedented change as it moves towards a digital industry. While most bankers have already begun to embrace a digital landscape, there is still a lot of challenge to come.The future of banking will include a number of new ideas and methods for accomplishing tasks on a grander scale. And, perhaps most importantly, the customer will be at the forefront of that change. Today’s average banking consumer expects more, demands it faster, and expects better results. Banks unable to compete with those meeting these demands will likely struggle to remain viable in the long term.