Moving Mainframe Legacy Apps To The Cloud Without Rewriting
LzLabs, a #mainframe migration software specialist based in Zurich, is coming to North America, where it has heard a few mainframes are still running.
Financial Technology
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The Clearing House Sponsored A Contest For Apps Using Its Real-Time Payment Rails
The North Carolina #Fintech Hub and The #Clearing #House invited #banks and fintech firms to develop innovative solutions #using the TCH real-time payments (RTP) network.
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New private banking frontiers: mobile apps, convenience & personalization
In the first blog in this series, we discussed how #banks seeking to expand their presence in #private #banking and wealth management should employ digital solutions to provide customers with the #convenience and #personalization they have come to expect from other companies with which they do business.
#Mobile #apps are an essential part of such an integrated private banking strategy. Rather than an “add-on” feature, they should be a central element in providing exclusive services to people with premium needs. These services can range from personalized financial advice (delivered at the frequency the customer desires) to digital feeds of financial media tailored to customer needs.
A first-class mobile app should be:
Secure & private
The app should have two-step authentication and may incorporate a biometric login such as voice, facial or thumbprint recognition, as well as data encryption and fraud protection.
Innovative
The app may connect the customer with the private bank via a chatbot or may enable voice-controlled, hands-free interaction. It may aggregate all the customer’s accounts with that institution or with other institutions.
Robust
It should provide the customer with a portfolio overview and interactive tools for portfolio analysis and personalization, using both human and #robo-advisory capabilities. The app should support trading, brokerage and foreign exchange transactions as well.
Interactive
Through the app, the customer should be able to interact with client services via live chat, through call-backs or through other apps such as WeChat or Whatsapp. The app should also enable direct contact with the financial advisor via direct messaging, direct dial or video conferencing.
Personalized
The app should notify the customer of product and service offerings, provide tailored market and economic research and offer educational content using interactive tools and gamification.
Of course, the question now is not whether private banks should have a mobile app—but how to develop an attractive, value-added offering. Human interaction is still essential to private banking, but wealth managers using mobile apps in concert with other digital technologies will have more time and better insights with which to cultivate their customers.
The post New private banking frontiers: mobile apps, convenience &038; personalization appeared first on Accenture Banking Blog.
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Consumers Have High Expectations of Their Digital Banking Apps
#Consumers want #banks to do more than just hold #their money. They want their banks to help them meet their financial goals. In fact, a new consumer report by CSI shows that 83% of American consumers agree with that statement. That number jumped to 87% for consumers with an annual household income of $ 100,000 or […]
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Mobile Banking Apps Get a Blah Net Promoter Score From Consumers, Bank Innovation Finds
#Banking #consumers take a middling view of today’s #mobile banking applications, according to a study by #Bank #Innovation. In the survey conducted this month by Bank Innovation, banking consumers gave mobile banking a net #promoter #score of 12, which is in the bottom 25% to 50% of all NPS scores. NPS scores range #from -100 to […]
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Finastra Develops An Open Platform For Banking Apps
#Finastra‘s #banking #platform offers a way for financial services institutions to innovate faster, and way for #fintech firms to partner with #banks.
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The Key to Good UX Design for Bank Apps Is Customer Research
The mobile phone is becoming the preferred method of banking for many customers. #Bank of America just crossed the 25 million mark of mobile users, Chase has 30.1 million mobile users, and Wells Fargo has 21.2 million users. So, it’s safe to say that mobile banking is crucial to a bank’s business as well. Features […]
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Are Consumers Ditching their Banking App for Fintech Apps?
Scrapegators, what’s that? According to Malauzai Software, that’s the term used for vendors that “scrape” digital #banking #apps on the internet to gather data and then provide that data to fintechs. In other words, they are aggregators. Think Mint, Yodlee and Intuit, who, according to Malauzai Software’s Monkey Insights February 2018 report, are the largest …Read More
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Millennials Have More Banking Apps than Other Generations
Mobile #banking has officially gone mainstream: 55% of U.S. adults have at least one full-service banking app on their phones now, according to a study conducted by BankRate. Additionally, those consumers with bank #apps are active users, with 70% stating that they use their app at least once a week, the survey of 1,156 adults […]
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Malauzai Software: 2017 Slow Growth Rate for Mobile Banking Apps
A recent report by #Malauzai #Software showed that new app #growth #rate among #banks and credit unions has slowed down by 8% this year. This #slow down is an indication that the market is saturated, according to the report. Nevertheless, this year had the highest number of #mobile #banking #apps. The survey, which was conducted […]
Bank Innovation
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