Posts Tagged ‘Banking’

A report published by Ipsos MORI, a market research company, and VocaLink, a global payments partner to financial institutions and governments, indicates that European millennials are struggling to adopt mobile payment technology. While more than half of the approximately 4,000 millennials from Germany, Italy, the U.K., and the Netherlands who took part in the study […]

While some companies are keen on trimming the number of legacy IT applications through consolidation, they all agree that investments in technology are critical when it comes to operating in a digital world that has created incredibly high customer expectations. The adoption of mobile devices has significantly changed the operating landscape. During his remarks that […]

Gartner recently put out a press release that is quite memorable. It begins with: “By 2020, a corporate ‘no-cloud’ policy will be as rare as a ‘no-internet’ policy is today.” The chances are low that many companies maintain such success-hindering policies, but there are plenty of companies out there that are slow adopters, especially in […]

Boosting productivity through automation is another goal of the industry. Automation drives down costs and enables better control and compliance. It gives firms scale by allowing them to better serve existing customers and address new segments of customers by allocating resources to areas in which they can make the biggest difference. Eliminating simple manual processes […]

The benefits of robo-advisors are clear: trustworthy and affordable financial advice for everyone, regardless of net worth. Although some may debate what role robo-advising will play in wealth management, it’s hard to imagine a world without it. Ever since the evolution of the internet and the widespread adoption of digital devices, customer expectations have changed […]

Lloyds Banking Group, a company with 30 million customers under several brands including Lloyds Bank, Bank of Scotland, and Halifax, has put forth additional cost-saving measures to help the company weather poor economic conditions and better meet customer expectations. On top of the 9,000 jobs and 200 retail branches the bank outlined to eliminate in […]

Cost reduction remains a priority among financial institutions. Aside from re-negotiating contracts with vendors, consolidating IT applications is an ongoing trend in the industry. When speaking on the topic of expense reductions, Ralph W. Babb, chairman and CEO of Comerica, said, “We will enhance our technology capabilities, while reducing our overall spend by optimizing our […]

Results from the National Financial Capability Study (NFCS) were released in July, 2016 by the FINRA Investor Education Foundation (FINRA Foundation). The findings, which include data from more than 27,000 U.S. adults, reiterate the importance of providing people with financial education to help them better manage their money. According to an infographic that depicts the study’s results, “Absolute levels […]

Conversations with our clients have shed light on what’s taking place in their organizations and how they’re approaching their need to become more profitable. It’s evident that, for many, transformation initiatives are in development or already in place. These initiatives are not short-term plans, but rather ones that span many months or even years. Without […]

Today at IBM Amplify 2017, an event at which companies across all industries gather to learn how cognitive technology is transforming customer engagement to make each customer feel recognized and special at every step of their journey, my colleague, Michael Porter, was fortunate to hear firsthand how one bank in particular is achieving such great […]

During WSJ’s CFO Network conference, Bank of America chairman and CEO Brian Moynihan was asked the following: “If you were building a bank today from scratch, what would be the three attributes of this new bank?” One of the key attributes of today’s bank, Moynihan noted, was the need to focus on omni-channel. “You have […]

In the middle of 2016, J.P. Morgan chairman and CEO Jamie Dimon observed that we are experiencing “uncertainty and turbulence in the markets.” In early 2017, he updated that view and said things are looking better “if you take a walk around the world.” Either way, to say that we are experiencing a period of […]