Despite the rise in digital banking adoption, consumers are reluctant to entirely abandon traditional brick-and-mortar branches and face-to-face interactions, particularly those who primarily use CUs for their financial needs.
CUs may risk losing customers, though, to banks that often have more branches and ATM networks, better online and mobile app technologies, and a wider range of products.
Jeoffrey Begin, Head of US Collections at BMO details how the bank has changed its focus in Collections away from a single transaction and towards the customer.
The customer-centric approach to Collections allows the bank to build consumers' financial health but it also requires them to be responsive to changes in their behavior due to factors such as technology.
Healthcare SMBs are increasingly turning to RTP payments for A2A transfers, surpassing credit cards and checks in usage over the past year.
As healthcare provider businesses increasingly integrate instant payments, two notable factors stand out that shape the adoption and usage of real-time payment rails across this sector.
U.S. Bank's Shruti Patel explains how the firm is adapting its approach to serve the evolving needs of SMBs in the coming months.
"I am really excited about several product launches we have planned for this year... they will bring to life our strategy to deliver a fully integrated suite of banking + payments + software solutions for our clients.”
We often think of technology as a driver for innovation in the financial industry. The word “technology” is in some ways synonymous with new and better. But not all technology pushes the envelope further for FIs.
We look at the cross-section of the industry to see how different FIs are navigating the question of technology in different areas such as retail, SMBs, and payments.