Ignore Millennials at Your Own Risk


At a recent conference primarily for credit unions and small banks, I participated in an interesting discussion about the future role of banks and legacy payments for person-to-person (P2P) payments. Few of the attendants offered a P2P solution as part of their online or mobile banking platform and those that did claimed the product was seldom used, if at all. There was consensus that a majority of their customers just aren’t interested in this product.
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mPOS is the key to mobile payments adoption


The day when people leave their wallets at home and use their phones or tablets for all their financial transactions is on the horizon. What the founders of many FinTech companies are pondering, is just when people will reach this horizon and what will get them there. The answer to the latter part of the question, in my opinion, is mobile point of sale (mPOS) Technology.
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Top 5 Mobile Missed Opportunities that Cost Financial Institutions Money


In recent years, the proliferation of smart phones, tablets and web-enabled mobile devices has spurred nearly every financial institution to scramble and put together a mobile banking option for their consumers. It’s not just the growth of these technologies that is driving demand, it’s the users themselves.  Mobile users have been found to access their financial information 64 percent more frequently than non-mobile users.  As these consumers become increasingly more dependent on these devices, financial institutions are realizing that the first-generation mobile banking offerings are not sufficiently supporting the demand for anytime, anywhere banking needs, or giving financial institutions the ability to integrate all product and service offerings.  At what point did the existing mobile banking experience become obsolete?
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Mobility in Banking: A Game Changer


Mobility is transforming every aspect of the financial services enterprise. Bank Systems & Technology and leading experts will discuss best practices and where the industry goes from here in our May executive forum.

It’s safe to say mobile is no longer an emerging channel. Almost every bank has a basic mobile offering, and many offer services such as mobile RDC and bill pay.
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UX Lessons for Card Issuers from the New Starbucks Mobile App


When I moved to Seattle, Starbucks had just four locations. So I’ve had a ring-side seat in their climb to worldwide ubiquity. Though not a huge fan of their coffee, I greatly admire their business model, technology, and payments innovations.

I have been paying with the Starbucks mobile app for the past few months (note 1) as have 14% of its customers. It’s great as long as there is a queue. That gives you plenty of time to go through the 9-step mobile payments process (10 steps with tipping):
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Mobile is Now Mainstream and Increasingly Impacting Bank Switching


In another example of how U.S. consumers’ acceptance of mobile banking continues to grow, a recent AlixPartners study shows that 60 percent of smartphone or tablet owners who switched primary banks reported mobile banking capabilities as “important” or “extremely important” in their decision to switch. That’s up dramatically from 48 percent in a similar survey from the first half of 2013.
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Predicting the future of money


The Future of Money Award was launched in 2009 and was created to bring previously unseen creative thinking to the financial industry, by asking artists and designers to think ‘out of the box’ when imagining the future of money and payments – pushing the boundaries of what might be possible.

The theme of the award this year was ‘Identity is the new money”, and it invited… “creative practitioners to imagine a future world where identity has become the new money… looking for either hopeful or woeful visions of this monetary future, which explore the social impact of this technological trend.”
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