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Industry Insights

Tag Archives: Financial Institution

Social Media Trends Every Bank and Credit Union Should Know

banking social media trends

Does your bank belong on Snapchat? What should your credit union tweet about? Will Facebook’s algorithm ever be on your side again?

There’s a perfect storm swirling in the social-sphere that is creating a lot of questions for social media professionals in the financial services space.

As banks and credit unions increasingly try to engage consumers on social media, they’re often left defeated amidst waning attention spans, changing platforms and unfriendly algorithms. It’s the harsh reality of social media today, but it’s not all bad news.

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Digital Innovation in Banking (And What It Means to Accountholders)

Digital Innovation in Banking

Technology moves fast. We see it with major “disruptions” from both digital innovation in banking as well as in our personal lives. These changes breed new opportunities but the accompanying challenges can be difficult to overcome. With all the avenues for innovation, what’s the most profitable path for financial institutions? 

A people-centric approach with a dual-view of the digital landscape is always a smart place to start.  Continue reading

Going Above the “Rearview Approach” to Post-Breach ID Protection

Credit Monitoring is Not Enough Post Breach

The Pew Research Center reports 64 percent of Americans have been victims of at least one data breach. 

A data breach occurs when personal or financial information is unlawfully viewed, stolen or used. Exposure can stem from malicious sources, like hacking and theft, or can be seemingly innocent in nature, such as an employee improperly disposing of sensitive files.  Continue reading

Blurred Lines Between Business and Personal Banking Creates Opportunity

Small Business Banking

Small business banking is the new battleground for financial institutions, as many seek to ramp-up revenue by focusing on these often-under-served assets. 

The push comes as small business undergoes some major changes — from the owners themselves to the sought-after account features to the diverse set of players in the space. This small, yet mighty facet is creating major opportunities, as well as some considerable competition, for banks and credit unions.  Continue reading

How Exploring Emerging Fraud Threats Puts You Ahead of the Odds

Staying on top of consumer and small business fraud risks is critical to the security and success of your financial institution. Hand-in-hand with being attuned to identity crimes, you must be able to help customers protect against them. This keeps you compliant with industry regulations and fulfills your customers’ expectations.

So how do you ensure such a positive outcome for you and your customers?

View our latest webinar Strategies to Protect Banking Customers from Emerging Fraud Schemes, which I recently presented with fraud expert Al Pascual of Javelin Strategy & Research.

Our discussion delves into new findings surrounding current and evolving fraud threats, how customers view your role in their protection and how you can strengthen customer relationships while growing your revenue with industry-leading identity protection.

Take advantage of this complimentary webinar now.

Emerging Fraud Threats Webinar

How Protecting Customers From Fraud Helps the Bottom Line

How Protecting Customers From Fraud Helps the Bottom Line

As public concern about identity theft and fraud continues to escalate, it has become more critical than ever for financial institutions to step up customer protection efforts — or risk taking a hit to their bottom lines.

In a global study across 17 countries that included more than 5,200 consumers, some 25 percent of respondents said they’d been victims of credit, debit, or pre-paid card fraud within the past five years. Most tellingly, more than 20 percent reported that they will stop using, or switch from, the card impacted by fraudulent activity. The study — conducted by ACI Worldwide and Aite Group — further found that after experiencing fraud, more than half of cardholders switched to using cash or an alternate form of payment instead of their credit or debit card.

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What Makes a Good Fraud Protection Partner?

In the wake of the Target data breach last December — which put an estimated 70 million customers at risk for identity theft after thieves stole massive amounts of credit and debit card information as well as username and passwords — fraud protection has become a major concern for consumers, and for good reason.

For victims of identity theft, cleaning up the mess is no fun. Some 10 percent of victims must spend more than a month working to clear up associated problems, according to the Bureau of Justice Statistics (BJS). And those whose issues linger are more likely to experience problems at work and in their relationships. Nearly half of identify theft victims who spent more than six months resolving financial and credit card problems reported experiencing severe emotional distress.

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