Posts Tagged ‘Financial Services’

Properly trained employees can help keep companies regulatory-compliant, increase sales, and gain the trust of customers and prospects. Financial services companies should have established standard operating procedures and training materials for all levels of employees, with oversight by managers. These training materials should stress the importance of ethical practices and provide employees with clear details […]

A new report released by eMarketer highlights the digital ad spending outlook and trends among financial services companies, including insurance, commercial banks, credit agencies, consumer finance companies, business credit institutions, and credit card agencies. It also includes companies engaged in the underwriting, purchase, sale or brokerage of securities and other financial contracts. The US Financial […]

Customer onboarding is one of the most important and scrutinized processes in financial services. Companies continuously refine their processes in an attempt to make customer acquisition more effective. How can they enroll customers fast enough to avoid application abandonment, while having enough safety measures in place to minimize potential risk? Enhanced new account opening processes […]

If there’s one area that can spell the success or failure of an insurance carrier, it’s claims. Claims consume nearly 80% of insurance premiums in the form of payments or processing costs. Consequently, claims managers are challenged to reduce these costs, improve service levels, and gain greater control over the processing environment. As regulatory oversight […]

I had the pleasure of attending an Adobe Café in NYC earlier last week. The Cafés are a series of workshops Adobe is hosting for its partners. This one in particular was specifically geared towards business development in the financial services industry. Christopher Young, director of industry strategy and marketing for financial services at Adobe, presented some great statistics […]

While modifying sales goals can be a good place to start, artificial intelligence and intelligent machines (along with a comprehensive process) can be leveraged to analyze data and identify patterns. Aside from knowing the real identity of customers, companies are obligated to ensure that their customers have willingly opted to do business with them through […]

Most successful cross-selling programs have incentives in place that reward employees for selling additional products and services to existing clients. While financial incentives are often indispensable in certain parts of the industry, and there is nothing wrong with such programs at their core, they do open the door to unethical behavior that can have unfortunate […]

Let’s talk about what cross-selling is, in the simplest of terms. It is well known in the financial services industry that customers who sign up for multiple products and services are typically more loyal and, therefore, can bring organizations more revenue in the long run. These deeper relationships are what make cross-selling financial products so […]

At last year’s Milken Institute Global Conference, an annual event that attracts some of the world’s most extraordinary people to explore solutions to today’s most pressing challenges, a group of experts gathered for a discussion on the future of blockchain. Brian Forde, who is now a senior lecturer at the MIT Sloan School of Management, […]

Financial services organizations such as banks, insurance organizations, and credit card issuers, are creating mobile applications that are not just focused on the products or services they’re selling. Instead, they’re using mobile as a way to get in front of customers and non-customers alike. At the end of the day, their belief, and rightly so, is that […]

Transformation initiatives require the development and implementation of strategies and technologies capable of delivering operational efficiency, reducing expenses, and increasing revenue. As an organization, you can commit to putting initiatives similar to the ones discussed here in place. It will require everyone, all the way to the CEO, to be on board and contribute where […]

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 […]