Citi’s latest technology improvement isn’t sexy, but it sure is effective: The bank invested in a system that scans 95 million monthly trades to catch human errors – and it’s already preventing what could be costly mistakes. Citi’s SMART system is dramatically reducing human error in its trading division, CEO Jane Fraser revealed during a talk […]
Tag: automation
Washington Federal wants to help other banks partner with fintechs, so they can better compete with larger rivals – and it’s the latest financial firm to bet that its homegrown tech tools will reel in external customers. Washington Federal – known as WaFd Bank – launched a separate firm to help other regional and community […]
Customer obsession needs to come from the top. Digital strategy execs should marry data with a person-first mindset, rigorously monitoring feedback to keep a constant pulse on how clients feel, according to BofA’s David Tyrie. Bank of America’s chief digital and marketing officer, David Tyrie, pairs his morning coffee with customer feedback. The exec uses BofA’s […]
Small businesses have historically felt underserved by their financial institutions, which has led to an increase in efforts to offer tools like personalized analytics and business projections. American Express just launched a new digital cashflow-management hub for its small business customers – called Business Blueprint – that builds off its 2020 acquisition of SMB lender […]
US Bank wants to make it dead-simple for new customers to deposit their paychecks into its checking accounts, as FinServs vie for loyalty and people pick up new gigs. US Bank is partnering with payroll startup Atomic to save time for new customers (or those with a fresh side hustle). Instead of manually filling […]
Leaders need a framework for choosing technology experiments and partners on their quest to “disrupt” themselves – and a gameplan for helping workers find meaning and value in their work. We received a wealth of advice from the tech execs who have shaped financial firms’ strategies. Former Credit Suisse CIO Radhika Venkatraman built a […]
Automation is fulfilling its promise of transforming time-consuming, expensive, and labor-intensive processes into seamless and efficient operations. This year, automation maintained the spotlight as banks applied it to many different parts of their business. For example, understanding customer behavior and rooting out product issues no longer needs to take forever: Customer analytics firm FullStory […]
The pandemic normalized digital customer onboarding, often through video. AI-powered tech can provide even more seamless experiences. UBS is streamlining its customer onboarding through a new partnership with ID verification firm Regula. UBS uses Regula’s technology to read, authenticate and verify data from a person’s biometric passport – with RFID checks run on a server-side. […]
Wells Fargo is providing a platform for its customers to build their own ideal digital banking experiences and hopes to set itself apart from competitors through customization, forecasting, and self-service tools. Wells Fargo just unveiled Vantage, its new digital banking platform for business clients of all sizes. The portal uses artificial intelligence to provide recommendations and […]
Artificial intelligence-powered contact center technology can help financial firms build more personalized customer service experiences, at a lower cost, by answering questions or correctly routing callers. One of Australia’s “Big Four” banks, National Australia Bank (NAB), just signed a multimillion-dollar deal with Amazon Web Services to increase its cloud-enabled efficiency and innovation. The bank […]