Along with executives from NCR Corporation and Jack Henry Associates, Dragnet Solutions President and CEO Greg Coté was featured in BAI Strategies article focused on the opportunities that 2016 holds for financial services solution providers. Here’s an excerpt: Cote: The fastest-growing customer segments for banks are Millennials, the unbanked and underbanked. Banks need a new […]
Along with executives from NCR Corporation and Jack Henry Associates, Dragnet Solutions President and CEO Greg Cote was featured in BAI Strategies article focused on the opportunities that 2016 holds for financial services solution providers.
Revenue growth, customer experience, mobile banking, and branch transformation were the major themes at this year’s BAI Retail Delivery Conference in Las Vegas. We were pleased to meet with so many bankers interested in solutions for delivering great customer experiences while growing profits and reducing risks. Most banks today offer some form of mobile banking, […]
“The next frontier in mobile banking is mobile account opening. Enabling consumers to open accounts on smartphones and tablets is especially critical for those institutions interested in serving tech-savvy Millennials or unbanked and underbanked households who use smartphones as their sole means of Internet access.
Until now, mobile account opening has been hampered by two challenges, which turn out to be related. First, financial organizations have difficulty collecting and verifying Customer Information Program (CIP) data from consumers on mobile devices. Second, mobile interfaces often require a lot of typing, which can lead to errors and variations that make CIP data hard to verify, and which also make degrade the customer experience of using the mobile app.”
This post is an excerpt of an article by Dragnet Solutions CEO Greg Cote for Western Banker Magazine. The full article is available on here. For most banks, non-interest income has been hovering around 2 percent since the recession. Banks are making various efforts to grow that income – efforts that include taking a hard […]
Mobile banking is increasingly popular in the U.S. consumer market. That’s true not only for traditional bank and credit union customers but also for unbanked and underbanked customers, according to the FDIC’s latest study on unbanked and underbanked households. The FDIC study found: Relative to fully banked households, underbanked households are more likely to have […]
The Unbanked and Underbanked markets in the US continue to grow in importance. Unbanked customers have neither a checking account nor a savings account. Underbanked customers may have an account, but rely primarily on Alternative Financial Services such as check-cashing storefronts and pre-paid cards to manage their finances. The infographic below presents recent statistics about […]
The Importance of Risk Assessment When a consumer applies for a DDA account at a bank or credit union, the institution typically performs some kind of risk assessment to determine how reliable the consumer is likely to be. Will the applicant bounce checks? Will the applicant commit fraud? Will the account eventually be charged off? […]
This post is an excerpt of an article by Dragnet Solutions CEO Greg Cote for the WIB Directors Digest newsletter. The full article is available on the WIB site. Banks find themselves facing two daunting technology challenges: first, updating or extending legacy applications to take advantage of Big Data, faster analytics and mobile devices; and […]
Is empathy a reliable way of understanding customers? All too often, the answer is no, according to a recent study described in Harvard Business Review. The more managers strive to be empathetic, the more likely they are simply to project their own preferences onto customers.