Financial Services

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Highlights from John Glen’s Keynote Speech at the Innovate Finance Global Summit on Crypto

John Glen, Economic Secretary to the Treasury of the United Kingdom, delivered the keynote speech at the Innovate Finance Global Summit held in London last month. Glen began his speech by stressing the enormous contributions financial services institutions, particularly “fintech unicorns,” have made to the UK; the UK is the leading European fintech hub and […]

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Pandemic Car Buys, Rising Interest Rates, and High Gas Prices: A World of Hurt for Lenders

It really is a mixed up, muddled up, shook up world. It seems like everyone in 2021 took out a loan on a new car, even though we all knew supplies were low and demand was high. As the Financial Times pointed out: “Americans went shopping for cars in a big way during the pandemic. […]

How to Commit Your Entire Organization to Your Commerce Strategy

It’s hard to believe we are more than halfway through our blog series on commerce for the insurance industry. Reflecting on opportunities to improve commerce in the insurance industry and find ways to positively impact this industry with new opportunities with my colleague Beth Duerr has been exciting.  Now we’re focusing on internal commitment. We’ve […]

Focus on Customer Obsession by Understanding Consumer Needs, Wants, and Expectations

How close are you really to your customers? In this fast-changing consumer environment, staying close to the customer is critical. The relationship and understanding of your customer should be used to drive strategies across the entire organization.   We all get high-level behavioral segmentation studies and marketing personas, but they don’t get us closer to the […]

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Creating a Deposit Advance Product to Boost the Customer Experience

According to industry research, 73% of all people point to customer experience as an important factor in their purchasing decisions. Moreover, customers in the financial services industry are increasingly interested in using their go-to firm to cover more of their needs, rather than using multiple providers. To meet the needs of their customers, banks are creating […]

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Perficient Included in IDC Market Glance: Lending Digital Transformation Strategies

While it was once expected and acceptable for lenders to enforce standardized payment due dates and policies, COVID-19 brought the impracticality and ineffectiveness of a “one-size-fits-all” approach to credit and lending to light. Two-plus years later, banks and credit unions continue to feel the pressure to transform their credit and lending operations. And for good. […]

What Your Digital Commerce Strategy Means to Your Company

Last week, we introduced our blog series on insurance commerce. We discussed the need to consider all the commerce activities that take place before the customer engages in a purchase. First, You’ll Need a Strategy There are many versions of the famous quote that says, “Strategy without execution is a dream, and execution without strategy […]

Preparing to Report TRACE Transactions (Part 2 of 6)

FINRA member participation in TRACE is mandatory and obligates members to submit transaction reports in TRACE-eligible securities to conform with the Rule 6700 Series. Getting started requires a member to complete a FINRA Transparency Services Participation Agreement (FPA) version 1.4, found on the FINRA website, and then submit the signed form via the FINRA Firm […]

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Why the Shopping Cart is Irrelevant in Insurance

In our previous blogs, we’ve documented how insurance is a complicated product for the traditional commerce process. Let’s recap what we’ve covered: It’s a product mandated by the state, financial institutions, and professions for many parts of life – driving, homeownership, rental, professional liability, and others. But it’s not a product that most of us […]

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Power BI Best Practices

1. Limit the visuals in dashboards and reports Limit the visuals in reports & dashboard. Keep the tiles limited to no more than 10 per dashboard. 2. Remove unnecessary interactions between visuals We can make that possible by removing unnecessary interactions between visuals. This is possible because of the reason that all visuals on a […]

What is TRACE Reporting? (Part 1 of 6)

In my over thirty years of experience in the financial services industry, I have learned a thing or two about completing, reviewing, and filing various types of reports — some of which have extremely tight restrictions and constraints to which the reporter must abide. This blog marks the first of a six-part series that will […]

A Digital Mindset: The Key to an Enhanced Strategy for Insurance Commerce

The connection between technology and consumers in the insurance industry has never been more relevant. Although the insurance industry was already facing rising competition and customer expectations, the global pandemic forced our industry to take legacy processes and technologies, and transition to “digital” seemingly overnight.  With the rise in vaccination rates and a hopeful return […]

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