Customer Acquisition
Persons who are older than 30 may feel the urge to gloat about this: Millennials – – the cohort, according to the Pew Research Center, born between the years 1981 and 1996, and who watch with glee as older folks struggle with social media and Ubers – – are currently the primary target when it…
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Is it important for financial institutions to deploy the best possible tools to fight fraud? Consider this: According to LexisNexis Risk Solutions in its 2018 True Cost of Fraud study for the financial-services sector, for every dollar of fraud a financial institution absorbs, it drains an additional $2.92 in associated costs — that’s up 9% from…
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Getting the money is always a challenge with fund raising, as is reconciliation and record keeping. Additionally, it’s beneficial to communicate to the individuals who donate, because they are interested in your program and a great “target market” for the next fundraising effort. Very often, contributions are solicited via social media, allowing contributors to go…
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While steadily declining in overall usage, cash remains “as relevant in retail as it has ever been,” according to an article by Bob Meara, Senior Analyst with Celent, in an article previewing his presentation at November’s AFP 2018, “Fewer Cash Receipts Still Mean Big Retail Challenges.” RCC (Remote Cash Capture) is noteworthy for the collaborative service delivery required to…
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Alfredo Alvarez, a principal at Liberty Advisor Group, writes in his article how modernizing legacy technology wins the digital customer: Nimble new entrants and rapidly increasing customer expectations for digital products and services continue to disrupt financial services firms. In response, financial services organizations have made significant investments in agile development and DevOps (development and…
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Last week, USA TODAY published a consumer-focused article explaining new deposit requirements from a number of banks: Depositors must now include the phrase “For Mobile Deposit Only” underneath their signature on all checks deposited using mobile apps. Some banks are also suggesting you add “For Mobile Deposit Only at (Bank Name)” or “For (BANK NAME) Mobile Deposit…
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Payments 3.0 columnist George Warfel signs off of his last column for the site by noting what he considers deep trends to watch in banking and payments. One particular point he makes is something we’ve seen borne out again and again as cleverly-named payments technology brands appear and then either disappear or team with more established…
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Admit it – you thought everyone knows the basics of check writing, and figured that the younger generation is not using checks. So who cares? Well, you might think this is the case, but there are fresh ideas in this article at the street.com including safeguards against check fraud, which, according to the ABA Deposit Fraud Study, saw…
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In the spirit of Independence Day, let’s take a look at an article from PaymentsSource.com that explores various attempts to become “independent from checks, cash, and cards.” Their list includes venerable “we’re going all-digital” efforts like Venmo, Green Dot, and even PayPal – – all have sought to declare independence from plastic cards and checks,…
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According to Thomas Skala, chief executive officer and president of telecommunications and payments company Genie Gateway, a mitigated risk of chargebacks makes checks the best path for high-risk sellers. High-risk sellers can include, for example, product repair companies if a customer is unhappy with a repair result; or the travel industry, in which buyers can chargeback travel…
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