What would an Apple bank account look like if the Big Tech company were to offer one? That was the question that well-known technology analyst Benedict Evans posed recently on his Twitter account. Apple already [...]
Velocity Solutions recently commissioned a research report from Cornerstone Advisors: The Reacquisition Imperative: Why Financial Institutions Must Reacquire Customers Through Digital Engagement. This 35-page report, based on survey data from 3,004 U.S. consumers, [...]
In a blog post titled Full Stack Startups, Chris Dixon wrote: Suppose you develop a new technology that is valuable to some industry. The old approach was to sell or license your technology to existing [...]
Fears of an Amazon "invasion" in financial services have reached a fever pitch. One Financial Brand article reported that banks and credit unions are "bracing for the Amazon doomsday." Does Amazon--and other big tech companies, [...]
In a recent survey, the Financial Health Network asked financial services executives about their organizations' most important strategic priorities. The second most-frequently mentioned priority--cited by seven in 10 banks and credit unions--was "improving customer financial [...]
According to JD Power's 2019 U.S. Retail Banking Satisfaction Study, just 4% of consumers switched primary banks in 2018. This was the lowest level of switching ever recorded by the research firm, down from [...]
Following an initial announcement in May 2018, Apple and Goldman Sachs confirmed their intention to launch a jointly-branded credit card. According to the Wall Street Journal: Apple and Goldman Sachs plan to start issuing this [...]
It wasn't that long ago that the banking pundits were predicting that fintech startups would put existing banks out of business. The Wall Street Journal headline Biggest Three Banks Gobble Up $2.4 Trillion in [...]
It’s the Credit Union podcast! CU 2.0 is excited to bring you the twenty-first in a series of podcasts from Robert McGarvey. Welcome to the CU 2.0 Podcast, regular interviews with credit [...]
Claims regarding the impact of artificial intelligence (AI) on banking are getting out of control. Claim #1: [Financial] institutions will turn AI-enabled back-office operations into external services, both accelerating the rate at which these capabilities [...]
In Cornerstone Advisors’ What’s Going On in Banking study, senior executives at financial institutions were asked how “future-ready” business functions within their institutions are. Just 26% of execs said the contact centers in their [...]
There is a lot of discussion in the banking industry regarding the potential and possible impact of Amazon’s entrance into banking. To recap some of the prevailing perspectives: “Amazon is under pressure to keep [...]
“The path to the corner offices doesn’t go through the marketing departments of credit unions. Never has and never will.” Exactly five years ago, that was a comment left on an article penned by [...]
During a presentation at strategic planning session for a large credit union, I challenged the management team’s notion that the FI was–or could be–“competing on superior service.” My argument went as follows: [...]
‘Tis the season. Yes, it’s that time of year for holiday celebration and reflection of the past 12 months. In 2016 we saw many lists produced of fintech and financial services influencers. How these [...]
