Similar to the way digital transformation means different things to different people, there are myriad types of projects and initiatives that fall under the concept of digital transformation, including: Implementing methods that enable changes to be made quickly on digital platforms, such as websites, mobile, social, and portals Developing websites and portals that are mobile-friendly […]
Posts Tagged ‘Banking’
How Digital Transformation Begins In Financial Services
Most digital transformation initiatives begin with customer journey mapping, a process that helps one fully understand the dynamics of the target customer and their behavior. Journey mapping connects the dots from a customer’s initial interaction with a brand, through their entire experience with that brand via multiple channels (e.g., website, mobile app, phone call, direct […]
Cloud Is Key To Metro Bank’s Growth Strategy
Metro Bank, a financial institution that has over 40 “stores” in Britain, has officially migrated its core banking IT infrastructure to a private cloud that will be managed by Rackspace. While the bank is only six years old, it has relied heavily on systems that were on-premises. The cost of running the applications in-house were […]
Why Digital Transformation Matters In Financial Services
In today’s digital age, consumers have evolved to become far more independent and self-sufficient. They expect access to information, services, and products to be quick, easy, useful, engaging, and even entertaining. Businesses that are not yet meeting these new expectations are falling behind the curve. But this particular curve is not just the trend of […]
Citi Goes For The Gold With Its New Mobile-First App
Several years ago, Citigroup formed a FinTech group that is dedicated to developing new offerings that bleed with innovation. One of the first solutions to come out of Citi FinTech happens to be a mobile app for its Citigold credit card members. Citigold is a pure wealth management offering that targets affluent and emerging affluent […]
Digital Transformation In Financial Services Defined
While it means different things to different people, digital transformation is a movement. According to the research firm Altimeter, the definition of digital transformation boils down to this: “The realignment of, or new investment in, technology and business models to more effectively engage digital customers at every touchpoint in the customer experience lifecycle.” Digital transformation […]
Introduction To Digital Transformation In Financial Services
We have become a digital society. We use mobile devices to guide us through rush hour traffic, to find a great new spot for lunch, to research recipes for dinner, to do our shopping, to track our exercise, to entertain, to connect with friends and family, and to wake us up the next morning to […]
Top Five Concerns For FSIs Include Cyber Risk And Today’s Election
According to a survey conducted by The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, 56% of respondents rated cyber risk a top-five concern, while 22% indicated it was their biggest concern. 50% of respondents said that the outcome of today’s presidential election is a top-five […]
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 […]
[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 […]
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 […]
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 […]