Tag: Innovation

Increasing Bank Productivity – A Better Tool Than Email

How banks can improve on emails

The other day we learned something when our email server went down – collaborative communication applications helped increased productivity for internal projects.  Email, we found out, is the lowest common denominator. We have a beta test team using different types of collaborative applications and today we present some thoughts about using these applications in a bank environment.

Using Decision Trees in Banking (And Why Innovation Makes Economic Sense)

Decision Tree For Bank Risk Management

If you are looking to make best-in-class decisions, it pays to have a variety of best-in-class tools at your disposal. Oftentimes, a reason why banks don’t innovate more is because they lack the tools and experience to properly understand the risk and the return. Without a way to quantify the risk, stagnation occurs. As banks develop their risk management culture, it pays to have all managers conversant in the proper tools to manage risk.

Banks Need To Stop With The “Digital Strategy”

Building The Mobile First Bank

Indra Nooyi, Pepsi’s CEO, wanted to put more emphasis on design. She gave each executive a photo album and a mission to go capture designs that “inspire.” It was a simple assignment, but only a few managers completed the task and of those that did, half of those had their spouse do it for them. Those that did do it, just stuck with superficial changes such as changing the shape of their bottle, the label and the color of Pepsi’s blue.

What Are The Future Forces of Banking? [Survey]

Future of Banking graphic - Cartoon of banker staring into the future

We could use your help in spending five minutes to complete this quick survey (HERE) so that we can collect your opinion regarding the future of banking. In exchange, we will not only be eternally grateful, but you will be the first to receive the survey results as well as a presentation on the future forces of banking.

Rebooting Financial Services - FinTech 2.0

This paper looks at the key opportunities in the industry that banks can take advantage of for tech investment and development. While banks may want to develop technology on their own, banks should also consider a model where they partner with development companies to achieve a goal. 

 

Why You Need Nao - The New Banking Robot

Banking Innovation

Bank of Tokyo-Mitsubishi UFJ is proving assembly lines shouldn’t be the only ones with robots as it introduces Nao, the world’s first banking robot into its branches next month. Nao stands two feet tall, speaks 19 languages and doesn’t take any breaks. Developed by Aldebaran Robotics, a French company owned by Softbank, Nao is also one of the first robots to recognize and “feel”/mimic human emotion. Ask about a problem with your statement and Nao will judge the level of frustration, anger or sadness.

Why Commerce Bank’s New Toggle Card Is Interesting

Innovative Bank Products

Given the rise in digital payments, one thing that makes less sense for consumers is having them carry both a credit card and a debit card. For banks, the situation is equally absurd, since both cards not only increase issuing and maintenance cost, but making debit more convenient would not only increase interchange revenue, but reduce check processing costs as well and help with overdraft compliance.

This Bank's Deposit Innovation Should Spur Your Bank's Creativity

Deposit Innovation

We talk to more than 4,000 banks nationwide and sometimes that is not enough. Last week we had to go out of country in order to get the scoop from Alfa Bank, Russia’s largest private bank ($82B in total assets) and learned something new. The Bank introduced a new deposit account that has a rate of interest tied into an activity tracker.

 

This New Savings Account Should Inspire Banks

Savings Account Innovation

Last week, Suntrust introduced their new savings platform called e-Savings that allows customers to open multiple subaccounts tied to their regular checking account. What is basically a modern redesign of the Christmas Club account, the platform allows bank customers to segment their funds for specific purposes thereby giving savers more control and accountability.

Finovate Roundup: New Bank Tech That Could Make A Difference

Bank Technology

After meeting and demo-ing some 70+ companies at Finovate (including non-presenters), there is more of a gap that we alluded to yesterday. Yes, the technology presented was interesting and the show format perfectly efficient, but there are a couple more glaring holes outside of the lack of discourse around profitability and risk management plus the lack of innovation around handling the small to mid-sized commercial customer that we highlighted yesterday.

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