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Tag Archives: branch operations

5 Key Steps for Growing Profitable Accounts

Without launching new mobile apps or remodeling branches, institutions can take immediate steps to help grow profitable accounts while reducing losses from fraud and charge-offs. Here are 5 steps for making business more profitable and less risky. Run the numbers, and understand the subgroups in your customer base. You’ve probably analyzed your customer base, know […]

See It Live at BAI Payments Connect: Dragnet Intercept Running with Epson Scanners

We’re pleased to announce that we’ve just certified two Epson scanners, the TM-S2000 and the TM-S9000, for use with Intercept, our real-time ID document authentication service.  We’ll be demonstrating the two products working together in Booth #313 at BAI Payments Connect next week in Las Vegas. (For more about Payments Connect, see the official Web […]

Lessons in Core Technology, Integration, and Customer Security from the NAFCU Technology and Security Conference

Presentations at this year’s NAFCU Technology and Security Conference focused on a few key themes, which we came to imagine as layers making up a credit union’s IT environment, starting with a core system at the center, moving out to integrations with various other systems such as identity verification and account-screening services, and eventually reaching that all-important community, customers.

Small Businesses Still Prefer Branches

A new study by BAI Research found that small businesses still do most of their banking at local branches. Consumers might be going mobile, but small businesses still prefer old-fashioned face-to-face banking. From the story: Small businesses continue to interact with- and transact at their branches. More than half of all business transactions are conducted […]

A Tale of Two Banks Pursuing Aggressive Growth Strategies

Imagine two banks that have decided to grow accounts aggressively. Bank #1: Open Now, Fix Later The first bank opens accounts for nearly anyone who enters the branch. Applicants walk in, meet with a banker, and walk out thinking that they have an account. Back-office processing for new accounts takes place in batch mode at […]

Are Bank Branches Obsolete?

Earlier this month The Economist magazine hosted a lively debate on its site about the future of branch banking. Brett King, author of Bank 2.0, argued that bank branches are obsolete. He wrote: “Just like the publishing and media industries, a place is simply no longer a vital, necessary component of day-to-day banking. Bankers would […]

Customer Onboarding Still Needs Improvement

Banks have invested millions of dollars in branch IT and training, but all too often the customer onboarding process remains frustrating and error-prone. Take the example of a friend of ours who recently opened an account with a major U.S. bank. She visited a local branch to open a checking account. The branch staff were […]

Customer Onboarding: Two Critical Questions

When someone walks into the branch of a financial institution to open an account, the branch personnel need to answer two questions. First, is this person who they say they are? Second, do we want to do business with them? After a cursory examination of the person’s driver license and a few background questions, most […]

CRM and Customer Onboarding

Customer Relationship Management (CRM) records are obviously essential for any Financial Institution. CRM records are required for Know Your Customer (KYC) mandates, effective outbound sales and marketing initiatives, and daily business operations. You rely on your CRM records. But how are you entering these records in your CRM system? It turns out that CRM data […]