Institutions cannot afford to rest on their laurels when it comes to branches. The time to make a change in branch strategy is now, and if banks want to transform their branches into the modern, customer-focused environments their consumers crave, it starts with innovation.
On Feb. 9, the Trump Administration issued an executive order (E.O.) enforcing, “Federal Law with Respect to Transactional Criminal Organizations.” In it, the new president announced, “It shall be the policy of the executive branch to strengthen enforcement of Federal law in order to thwart transnational criminal organizations and subsidiary organizations, including criminal gangs, cartels, racketeering organizations, and other groups engaged in illicit activities …”
On March 7, WikiLeaks released a huge cache of documents–close to 8,000 web pages–that provide a detailed glimpse into the CIA’s computer hacking capabilities. So what do we do now? Rather than be reactive, let’s discuss a few ways that this incident can help us be proactive.
Candidate Trump campaigned on a pro-business, deregulation platform. In his first days in office, President Trump has swiftly set that agenda in motion. We’re examining six regulatory-related moves initiated by the Trump administration in its first weeks–and dissecting what they actually mean today and what they might mean in the future.
VISIONBank in Fargo, North Dakota, has the motto: “Getting It Done.” And when the bank realized the need to find a more strategic core bank processing partner to improve efficiency and integration, that motto guided them through not only its decision to find a new core partner, but also its completion of the conversion process.
Success in a globalized economy is often rewarded with an increasingly complex landscape of rules, regulations and compliance pitfalls. And while such challenges were once the exclusive domain of finance, nearly every industry today finds itself touched by strict requirements to ensure that all transactions and business relationships are vetted against numerous federal watch lists and state regulations.
Technology has irrevocably altered the banking industry, leaving the traditional branch in its wake. How will your institution evolve to meet this challenge head on? Now is the time to decide. Check out this infographic to learn about the three essential elements institutions can combine to pull off the ultimate branch transformation.
One of the key business disrupters this century will be machine learning. The financial services industry has the potential to significantly benefit from this breakthrough, but first, bankers must do a bit of learning themselves about this emerging phenomenon.