Chatbots and digital assistants are everywhere. Start typing questions in a chatbox on a website, and there’s a good chance you’re not conversing with a living, breathing human. The truth is chatbots save companies money. But why are so many of them “female?” [Continue]
Amazon has totally transformed the retail landscape, including the supply chain and expectations of customers who want things immediately. Bankers trying to differentiate in a crowded marketplace are increasingly committing themselves to a service standard that clears the Amazon baseline. [Continue]
Was anyone surprised when the Fed announced August 5 it would create a real-time payment and settlement service? The Fed has been the backstop clearing house for payments for more than a century; the evolution of those payments to digital is no reason for the Fed to back away from the crucial work of facilitating payments and settlement. [Continue]
Technology should provide advantages to every user — bank employees, advisors and clients. Technology is flexible, which enables the incorporation of traditional options like paper quarterly reports. It can enhance the relationship with an advisor but is unlikely to completely replace it, and that’s where Sawtooth comes in. [Continue]
Hopefully this peace time will continue. However, in case it does not last, it is wise to consider steps that can be taken now to avoid (or at least mitigate) financial stress, which could lead to the need to sell your institution or take on partners. [Continue]
The ATM and drive-through lanes didn’t put an end to face-to-face banking, and neither will online or mobile banking tools. [Continue]
Community banking industry experts weigh in on the art of negotiating and its worth to both up-and-coming and veteran bankers. They offer insight into the key areas of negotiating and how to hone your chops in this key skill. One tip? Queue up episodes of Shark Tank. [Continue]
While termination and change-in-control penalties can play a significant role in an M&A transaction, third-party contracts can impact a deal beyond just the financial impact associated with early termination. [Continue]
LenderClose, a fintech startup based in Des Moines, Iowa, is developing new ways for banks to close deals, particularly in the mortgage market. BankBeat talked to its CEO Omar Jordan about the young company’s take on crossing the finish line. [Continue]
There is a distinction being made now between customer service and customer experience, or CX. The former involves interactions with your people while the latter refers to customers’ holistic encounters with your brand. Some companies spend big money and years of study to create a brand designed to deliver memorable CX. Yet investments meant to deliver on CX are destined to fail without a highly-trained workforce. Everything hinges on those people skills! [Continue]