3676 Results from /retail
Retired Member
A recent CUinsight article by this topic explores the untapped up-side in marketing via the eStatements channel. The post was made by a vendor in this business. Nothing wrong with selling, but... In my experience, migrating a user from paper to eStatements is a very good thing in a connected world. However, when a paper statement is delivered, it...
06 February 2013 /retail Online Banking
Industry analysts at Ovum have predicted growth of 3.4% in the IT spend of retail banks around the world in 2013 – following fast on the heels of Celent’s predictions last month of the same growth for total bank IT spend. Whilst this is obviously good news for those in the fintech space, it is worth diving into the predictions a bit deeper. The O...
05 February 2013 /retail
Jp Nicols Managing Director at FinTech Forge
Wealth management is an attractive business line for banks. Affluent clients hold higher balances, have lower credit default rates and utilize more fee-based services than the average branch consumer. No wonder forty percent of bank leaders surveyed by KPMG in June 2012 said that wealth management would be a critical component of their growth plan...
I have been in the insurance software business now for more than 25 years, and early in my career, the question was raised: “Why do brokers have client administration systems while insurers struggle on with multiple, unconnected policy administration systems?” During all my time in the business, nobody has been able to tell me why insurers wish to...
04 February 2013 /retail /wholesale
Sometimes the simplest lessons are the hardest ones to learn. Anyone who has taken even the most basic business course in the past fifty years is undoubtedly familiar with Theodore Levitt's 1960 treatise “Marketing Myopia”: "The railroads did not stop growing because the need for passenger and freight transportation declined. That grew. The r...
01 February 2013 /retail
Jim Marous Publisher at The Financial Brand
Trying to predict what is going to happen in the banking industry is like trying to predict tomorrow's weather. While you may get the forecast right, it could be more a case of luck than skill. And what you see today could quickly change tomorrow. With that as the backdrop, I asked almost fifty industry leaders who author blogs I read, post on Twit...
31 January 2013 /retail Disruption in Retail Banking
When it comes to banking, innovation may not be as compelling a priority as managing cost, risk or compliance. But it is definitely on the strategic agenda given its potential in driving differentiation, customer acquisition and growth. No surprise then that 73% of the global banks featured in the 4th edition of the EFMA Infosys Innovation in Reta...
30 January 2013 /retail
Martin Bailey Technology Product Director at Temenos
Reports on customer loyalty may differ on the exact number of people who are changing banks, but they all agree that customers are getting more promiscuous. The bad news is that I don't think we've seen anything yet. Mobile phone vendors eye how often customers change their banks with envy. The race to acquire new customers is on. In the UK, Maks ...
30 January 2013 /sibos /retail Innovation in Financial Services
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
Soon after I wrote CTS2010: Cheque Truncation Or Contract Termination System?, a senior banker averred to me in private that India's cheque truncation program had a lot of loose ends. A friend of mine who used to work for a CTS solutions provider pointed out that the program had an ever greater impact on NBFCs than banks (For the uninitiated, a No...
29 January 2013 /payments /retail
New technologies and tools are quickly cropping up to facilitate lending and account opening. We have pulled together five most important capabilities of a lending system to help you identify the most appropriate solution for loan origination. 1. Intuitive management of loan processing business flow. Visual editor for decision flow is one of the m...
25 January 2013 /retail
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