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Mobile Account Opening at BAI Retail Delivery 2015

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, […]

White Paper: Unlocking the Potential of Mobile Banking with Data-driven Insights

“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.”

Find the “Keepers”: Identify Your Most Profitable Customers and Grow Your Share of Business

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 an Important Channel for the Unbanked and Underbanked

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.[1] The FDIC study found: Relative to fully banked households, underbanked households are more likely to have […]

Infographic: State of the Unbanked and Underbanked Markets 2015

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 […]

Assessing the Risk of DDA Account Applicants: The First Data® Confidence Score® Advantage

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? […]

Use Web Services to Modernize Applications and Support Omnichannel Strategies

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 […]

Study Finds that Customer Empathy Usually Goes Amiss

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.

Benefits of Real-time Account Segmentation

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. Sometimes in business a feature or function dismissed as tactical or merely technical proves itself to be strategic — a vital tool for organizations to grow […]

WIB Annual Conference 2015 Report

We’re back from this year’s Western Independent Bankers Annual Conference for Bank Presidents, Senior Officers, and Directors. This year’s conference was held at the beautiful Grand Wailea resort in Maui. It was a great setting for conversations, presentations, and, of course, sunshine and golf. The theme of this year’s conference was Transformational Leadership. It was […]