Insights

With most major banks and credit unions now offering a mobile banking platform, end-users are already accustomed to digital banking from their smartphones. Leading the pack are the younger generations, with 88% of Gen Z and Millennials choosing to bank on mobile.  However, by no means does usage tail off among older bankers. In fact, some 40%…

Collecting and holding information on your clients is part of the banking industry’s DNA, because it made good business sense even before “know your client” laws made it mandatory. In the middle of the last century, computerization made record-keeping easier and more cost-effective, with the predictable result that institutions kept ever-larger quantities of client data. …

Digital transformation in banking is a top goal, but obstacles limit adoption rates. Transformation roadblocks include legacy systems and implementation costs. Likewise, leadership may question the timing of digital initiatives. While these concerns are valid, forgoing digital expansion may pose a greater threat. Learn about the challenges banks and credit unions face, then discover how…

Cloud technology is an already trending business initiative now exacerbated by the global pandemic. According to a report by Gartner, the cloud technology solutions market is forecasted to reach $364 Billion in 2022, up from $242.6 Billion in 2019. Ninety percent of enterprises expect cloud usage to exceed prior plans due to COVID-19. Further, 61% of organizations plan…

Consumers have long been enjoying digital banking. According to data compiled by Comscore and reported in Business of Apps, personal finance and banking are the No. 1 and No. 3 fastest-growing categories, respectively, of mobile app usage. Users of banks and credit unions clearly understand the value in managing their finances on the go. But we’ve also…

Your users are the lifeblood of your financial institution. They choose local banking services because of the institution’s investment in the region. Unfortunately, community-building goals stagnate when in-person visits decrease. Yet, there are steps you can take to infuse the human touch into online interactions.  Moreover, taking these steps helps your bank or credit union deliver…