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Perspectives on All Things Financial Services

Technology Partnerships: Creating New Avenues Of Revenue

There’s no question that financial institutions need cutting-edge technology to support growth. However, there is also no question that technology is not their core business. Therefore, it makes sense for them to partner – or even acquire – financial technology companies, which brings us to the topic of unicorns. What do unicorns have to do […]

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Banks Might Not Have To Cover Fraudulent Activity

I recently received a letter from American Express, warning me about a data breach that occurred with a third-party service provider several years ago. Although the letter doesn’t name the company who suffered the breach, it does mention that I’ve done business with them. The letter goes on to say American Express will continue to […]

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The DOL’s New Conflict Of Interest Rule, In A Nutshell

In April of this year, the U.S. Department of Labor finalized a new rule that is meant to protect individuals from receiving retirement investment advice that, in reality, may not be in their best interest. It’s a complicated rule that addresses the conflict of interest that financial advisors frequently encounter, such as receiving commission or […]

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Citi’s Digital And Cultural Transformation

Michael Porter, a colleague of mine, is live-blogging at this week’s Forrester CXNYC event, a conference for customer experience leaders, innovators, and practitioners. I wanted to share a session he sat through in which John Dalton, an analyst at Forrester, interviewed Alice Milligan, the chief customer and digital experience officer of Citi Cards at Citi. […]

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Smart Machines: Putting Tech To Work For You And Your Clients

Smart machines, which encompasses a group of cognitive computing technologies such as advanced machine learning, natural language processing, and prescriptive analytics to make decisions and solve problems without human intervention, have been receiving more attention in recent years due to the rise and success of solutions like IBM’s Watson. A smart application learns and adapts […]

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MasterCard To Pilot SoftBank’s Robot “Pepper” At Pizza Hut

MasterCard is looking at using artificial intelligence (AI) to help make businesses operate more efficiently. The global payment-technology company recently announced that it will be piloting a robot called Pepper, created by SoftBank Robotics. The robot will leverage MasterPass, MasterCard’s digital payment service solution that enables consumers to purchase from merchants. The first test for […]

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Cloud: Delivering Business Value While Reducing Costs

The cloud is not new, but it remains incredibly important. Yes, leaders at financial services institutions continue to worry about the cloud’s ability to meet their strict security and privacy requirements. However, threats like cyberattacks are not stopping them from moving to the cloud. There are simply too many more advantages to operating in the […]

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$17 Million For An Inadequate AML Program

Recent news from the Financial Industry Regulatory Authority (FINRA) reminds us of the importance of having a solid anti-money laundering (AML) compliance program. A well-known financial services company was fined $17 million for not having sufficient processes that could enable them “properly prevent or detect, investigate, and report suspicious activity.” While the organization significantly grew […]

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Digital: Engaging With Clients On-The-Go

If there is one trend making more headlines than cybersecurity, it is digital. In a world in which people are now performing more searches on their mobile phones than on their computers, it is no surprise that financial institutions with legacy business models and strategies are flocking to adopt new technology that meets the expectations […]

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HSBC’s 4-Part Plan To Cut Costs

HSBC recently announced that it’s going to cut 840 jobs in the UK and send them to offshore facilities. But, that shouldn’t come as a surprise. It’s all part of their grand plan to become a more efficient, cost-conscious financial services provider that can compete against competitors on a more even playing field. If you […]

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