Audience: Banks

  • 5 Types of Banking Fraud Schemes and How To Prevent Them

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    by Marty Aquino Wherever there is money, there will be bad actors trying to take it from your users. According to Business Insider, nearly 800,000 internet crimes were reported to the FBI in 2020, worth a loss of over $4 billion. The banking fraud numbers can be staggering, and they’re likely to keep rising as the world becomes…

  • What Is Personalized Banking and How Can It Improve Customer Satisfaction?

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    by Marty Aquino Personalized banking isn’t optional for financial institutions to survive in the digital age. With previously unknown startup fintech companies devouring once untouchable bank and credit union market share, it’s clear that end-users prefer more custom solutions. Accenture’s Banking Consumer Study, one of the largest of its kind, with 47,000 participants in 28…

  • Software Supply Chain Attacks Are Up — What Does This Mean for Digital Banking?

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    If you’re an online business, highly organized hacker teams could be coming for your code. Software supply chain attacks on public and private codebases surged by an astonishing 650% in 2021. That’s a serious threat for digital banks and credit unions, especially since it comes at a time when they are pushing ahead with digital transformation to keep…

  • The 7 Most In-Demand Mobile Banking Features to Consider for Your User Experience

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    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%…

  • Credential Stuffing Prevention: Identity Theft and Fraud Require Better Solutions

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    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. …

  • 3 Common Misconceptions About Cloud Technology Solutions

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    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…

  • Do Older Generations Actually Prefer to Bank in Person?

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    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…

  • How to Foster Community Through Your Bank’s Digital Experience

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    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…

  • Gen Z vs. Millennials and Baby Boomers When it Comes to How They Bank

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    How do financial institutions meet the needs of Gen Z, millennials and baby boomers when each is apparently so far apart? One solution is not to believe the hype. Although each of these three sizable generations brings a different backstory to banks and credit unions, they are all looking for much of the same thing —…

  • 5 Stats That Highlight the Importance of a Reliable Online Banking User Experience

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    Your users’ expectations of your digital capabilities are growing bigger, faster and stronger every day. According to consumer research by Salesforce.com, 80% of consumers say the digital experience your institution provides is just as important as its products or services. It’s also multi-generational — demand is not exclusive to the younger generations. A Zelle study showed that…