If you’re reading this blog right now, it’s probably not the first time you’ve heard about “digital” banking and creating mobile banking apps for your customers. But, all the buzz isn’t for nothing—the shift toward mobile and Internet banking is here to stay. And it’s not just the millennials who are to blame.
Let’s own it, as bankers we like to be in control, so uncertainty stresses us out. And when that uncertainty threatens our capital position and spans multiple years, our anxiety reaches a fever pitch.
In the highly competitive banking industry, differentiating your bank from the “big dogs” (large-size banks) and other players in the field takes more than just good luck and a flashy logo. The industry’s highest performing banks are those focused on profitable growth, are highly efficient and have diversified revenue streams.
Recently, historic actions were taken by the U.S. to lift nuclear-related sanctions on Iran under the Joint Comprehensive Plan of Action (JCPOA). The agreement provides for the lifting of certain nuclear-related sanctions that were imposed on Iran in exchange for Iran's agreement to limit the development of its nuclear program.
In November, we conducted our annual Banking Priorities Survey to help uncover what banking executives across the country foresee as defining factors for the financial industry in 2016. Of the 11 questions answered by respondents, the one regarding top compliance concerns garnered some of the most compelling results.
Last year placed significant compliance demands on financial institutions, and the bank C-suite appears to be poised for a 2016 that’s no less challenging.
In today’s banking landscape, consumers have more power than ever. Your customers and prospects have several choices about how they want to bank—online, in the branch, on their mobile devices—and traditional industry boundaries are fading.
With 2015 drawing to a close, while bankers are wrapping up year-end projects, they are also planning for 2016 and beyond, making a list of strategic items to accomplish in the year ahead. It’s fitting, then, that we pause to reflect on the ways in which technology has evolved recently—and what’s to become of bank technology in 2016.
As the calendar year winds down, many in our industry wonder what 2016 will bring. Specific challenges for financial institutions will persist, like obstacles to their growth objectives, the continued barrage of regulatory updates, and the ever-growing possibility of enforcement actions. Fortunately, there’s an approach that is gaining steam and proving advantageous to the institutions utilizing it: Governance, Risk Management and Compliance, or GRC.
It’s that time of year again—holiday shopping is ramping up, and so are risks for fraud and security breaches. And with more and more consumers using their mobile phones to make purchases this holiday season, keeping your customers’ personal data safe should be on your radar.