Tag: Innovation

The Big Game Changer In Citi’s New Mobile Banking App

It has been six months since Citibank released their upgraded mobile app. During that time, their app has garnered a following and we have been able to collect data on the user experience. We now rank Citi as the third best banking app behind Wells Fargo and USAA and it is moving up. Citi has closed the gap not only with all banks but with most fintech firms as well. This new app is the foundation of their yet to be released digital bank which is why everyone is paying such close attention.

Moving From Agile To DevOps In Banking Culture

Faster New Idea Execution

Since technology permeates everything we do, it is no surprise that engineering and development methodologies used in information technology (IT) diffuse into other areas of the bank. In the 1980’s the “waterfall” methodology went mainstream and management organized new products, processes, marketing campaigns and everything else around the concept. By 2000, “agile development” was all the rage. Now, in 2018, “DevOps” is the latest management development methodology.

Getting Ready For The Boom in Robotic Systems Financing (IoT)

The Internet of Things Banking

What specialties does your bank have? If you don’t have a set of banking specialties then chances are you are trafficking in commoditized bank products and strategic differentiation will be difficult. As we look ahead, one area that banks should consider specializing in is the financing of robotic systems for small and mid-sized companies. The Internet of Things (IoT) trend is a perfect fit for bankers looking to become more of a trusted advisor as it takes a certain level of expertise.

Mark King’s 6 Ideas For Bank Performance

Innovation Lessons

At the recent ABA National Conference for Community Bankers, Mark King, the President of Adidas North America, talked about his philosophy to make good companies great. Mark has an impressive track record. Starting as a sales rep for TaylorMade he worked his way up to President in 1999. During his 14 years at the helm, TaylorMade became the leading and most profitable golf company in the world, with sales increasing from $300 million to $1.7 billion.

Bankers Need To Know These 6 Laws of Innovation

The Human Side of Banking Technology

Some 30 years ago, Melvin Kranzberg, a professor at Georgia Tech, wrote a series of laws around innovation that all bankers should keep in mind as they deal with innovation. These laws are seemingly straightforward but have a profound effect on how bankers view and react to change. The advantage of understanding these laws is that it places technology in the context of strategy and execution. Innovation is only partly about technology, and these laws have been helpful for us to enlighten our thinking.

Marketing Same-Day ACH for Fun, Profit, and Deposits

Same Day ACH

Since September of 2016, bank customers have had access to same-day ACH credits. When same-day ACH was expanded to include debit transactions four months ago, no surprise, the functionality took off. Same-day ACH grew 138% from Q3 to Q4. The funny part is that, despite its proven popularity, few bank are marketing and many customers don’t know that the functionality is available to them. The same banks that complain and worry about competition from fintech disruptors are slow to adopt and market ACH.

Marketing Same-Day ACH for Fun, Profit, and Deposits

Same Day ACH

Since September of 2016, bank customers have had access to same-day ACH credits. When same-day ACH was expanded to include debit transactions four months ago, no surprise, the functionality took off. Same-day ACH grew 138% from Q3 to Q4. The funny part is that, despite its proven popularity, few bank are marketing and many customers don’t know that the functionality is available to them. The same banks that complain and worry about competition from fintech disruptors are slow to adopt and market ACH.

Here is Our Road Map of Prioritized Bank Technology Projects [eBook]

Technology Road Map - A Prioritized List of Bank Technology Projects

“Squirrel!” was a common refrain at meetings when some staff members saw the next shiny technology object that we just had to have – usually because a large bank was rolling it out. Saying “squirrel” became code for “let’s stay focused.” The real problem was that many suggested projects were actually worthy of attention and investment. Further, we had no framework for evaluating innovation and deciding how many projects to tackle in a given year and in what sequence.

Survey Results: Here Is How Bankers Will Compete In The Future [Free eBook]

Bank Competition In The Future and Fintech

Last month we, along with CS Consulting Group and the Banking Exchange, asked bankers to complete the survey on their current challenges and what tactics they are employing to overcome those challenges. An overwhelming 79% of bankers expressed a need to find new strategies, lines of business, methods, or a transformation of their business model, to better compete going forward. While banking faces many challenges, the survey results show that bankers have a clear view of the future and a plan for how to get there.

How To Prioritize Your Bank’s Technology Projects

Our Technology Scorecard

The key to successful bank spending is having a solid framework to help articulate and execute a set of clear priorities. Since every bank starts at different a place, with different objectives, and with different resources, the best way to do this, that we have found, is to form a scorecard or algorithm and then force each initiative or project through on an annual basis. What emerges should be a prioritized list of projects that the bank can expend resources to achieve that will give them the best return for the least amount of risk.

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