Many community-based financial institutions struggle with the perception of not being as tech-savvy as larger competitors. But some are finding creative ways to overturn that perception and sail past the competition. Case and point: Citizens National Bank of Cheboygan (Michigan).
What’s the scariest thing going on right now in the financial industry? Given ever-persistent technology advances, for many bankers, cybersecurity is their biggest and most unpredictable threat.
If you’re reading this blog right now, it’s probably not the first time you’ve heard about “digital” banking and creating mobile banking apps for your customers. But, all the buzz isn’t for nothing—the shift toward mobile and Internet banking is here to stay. And it’s not just the millennials who are to blame.
In the highly competitive banking industry, differentiating your bank from the “big dogs” (large-size banks) and other players in the field takes more than just good luck and a flashy logo. The industry’s highest performing banks are those focused on profitable growth, are highly efficient and have diversified revenue streams.
Recently, historic actions were taken by the U.S. to lift nuclear-related sanctions on Iran under the Joint Comprehensive Plan of Action (JCPOA). The agreement provides for the lifting of certain nuclear-related sanctions that were imposed on Iran in exchange for Iran's agreement to limit the development of its nuclear program.
In November, we conducted our annual Banking Priorities Survey to help uncover what banking executives across the country foresee as defining factors for the financial industry in 2016. Of the 11 questions answered by respondents, the one regarding top compliance concerns garnered some of the most compelling results.
Last year placed significant compliance demands on financial institutions, and the bank C-suite appears to be poised for a 2016 that’s no less challenging.
In today’s banking landscape, consumers have more power than ever. Your customers and prospects have several choices about how they want to bank—online, in the branch, on their mobile devices—and traditional industry boundaries are fading.
With 2015 drawing to a close, while bankers are wrapping up year-end projects, they are also planning for 2016 and beyond, making a list of strategic items to accomplish in the year ahead. It’s fitting, then, that we pause to reflect on the ways in which technology has evolved recently—and what’s to become of bank technology in 2016.