Financial Services | Perspectives on All Things Financial Services

Financial Services

Perspectives on All Things Financial Services

ING’s New Mobile App Helps Manage Your Finances Across Banks

ING is really flexing its digital muscle. Last week, the company announced that it launched Yolt, a free mobile app that allows UK consumers to manage their money across various banking institutions. According to the app’s website, Yolt aggregates a user’s bank and credit card accounts, and provides a dashboard that: Instantly shows you how […]

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[Video] A Look At Bank of America’s New Chatbot And ATM

Money20/20, the world’s largest conference geared towards the financial services industry, continues to generate big announcements from heavy hitters. Just yesterday, Bank of America’s Head of Digital Banking, Michelle Moore, introduced us to Erica (a play off the company’s name), a digital assistant that is driven by artificial intelligence, predictive analytics, and cognitive messaging. The […]

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Ally Financial Placed 100 Pennies Worth $1,000 Each Across 10 Cities

Ally Financial, a top 25 U.S. financial holding company, launched a clever multichannel marketing campaign that aims to make consumers think differently about money. Ally placed 100 pennies in plain sight across 10 cities, each of which can be redeemed for $1,000. The company developed a website that allows passersby to enter the code they […]

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Ensuring A Bright Financial Future In An Aging World

My colleague recently sent me an article that discusses the financial security, or lack thereof, of Americans. And that’s very troubling. The problems we face today are, indeed, different than yesterday. Take for example the fact we’re living longer, albeit with health issues, such as Alzheimer’s. Or, take America’s Social Security retirement trust funds into […]

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ING’s Big Bet On Digital Transformation

ING issued an update on its strategy, which focuses on the ongoing transformation of the large global financial institution. Between 2016 and 2021, the company intends to spend close to $900 million to enhance the customer experience, boost innovation, and become more efficient, all while reducing costs for years to come. Much of ING’s plans focus […]

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Future Of Robo-Advisors

There’s no question that the core function of managing money in a heavily regulated industry is difficult and expensive. New companies with robo-advising technology will need to learn how to navigate the regulatory landscape, making it critical to collaborate with traditional wealth management firms. From a bank’s perspective, robo-advising remains critical in terms of servicing […]

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World View Of Robo-Advisors

Depending on where investors are located in the world, investor behavior is vastly different; therefore, robo-advising may play a different role depending on the region. Some counties are more conservative and prefer traditional forms of wealth management services, while others are much more comfortable with investing on their own. The World Economic Forum conducted research […]

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Replacing Traditional Wealth Management Offerings With Robo-Advisors

Robo-advising will likely never take over wealth management, but there are certain elements it could replace. For example, tax-loss harvesting and digital account opening can be streamlined through technology and automation. Any tasks that serve as barriers to receiving services should be accomplished by machine. Financial advisors should instead do more of what they do […]

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Despite Headlines, Banks Continue To Open Physical Branches

Several months ago, I mentioned how Bank of America Chairman and CEO Brian Moynihan believes that the need to be omni-channel is one of the keys to success for a bank that operates today. He said, “Despite people saying ‘I never go into a branch,’ they all do.” While there’s a lot of talk about […]

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What It Costs To Comply With The DOL Fiduciary Rule

The new U.S. Department of Labor (DOL) fiduciary rule is quickly revealing itself to be the most impactful regulation in the financial services industry in a long time. The investments that companies are needing to make in order to comply with the rule, which focuses on conflict of interest, are making the impact painfully clear. […]

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