No tricks, just financial IT treats

by CDW Financial Services|Oct 26, 2016

Halloween is just a few days away, but not to worry, our FIN List isn’t pulling any tricks. Instead our round-up this week is full of treats: including how financial IT solutions like fintech, blockchain, mobile, data analytics and biometrics can sweeten your organization’s operations and bottom line.

  • ABA launches new fintech playbook. A new resource and guidelines from the American Bankers Association will help financial institutions embrace emerging financial technology. It’s new FinTech playbook will include standards for banks to follow as the adopt new technologies to expand their services.
  • Using data analytics to address three financial services challenges. The most successful financial marketers are using big data analytics to gain insights into how they can improve customer interactions and create a more personalized experience. Data analytics can also be used to: better understand millennial customers, increase customer loyalty and improve the customer experience.
  • Blockchain can benefit capital markets firms. In capital markets, there are two major functional areas that can benefit from blockchain: trade reconciliation and KYC/AML procedures. Real-time reconciliation/settlements of cash securities and sharing of KYC information on blockchain can save resources spent on manual processes and trade errors.
  • Capturing mobile banking ROI. Mobile banking is often considered “table stakes” or the “price admission” for today’s retail banks. Capturing the ROI of mobile offerings is often difficult. A new study revealed that mobile banking can, in fact, increase point-of-sale transactions, ATM withdrawals and revenue from transaction accounts – as well as products held per customer.
  • Using biometrics to protect customers. More banks are turning to biometrics to increase security and protect sensitive customer information. Fingerprint identification, voice authentication, face recognition and iris scanning ATMs are four ways the technology can protect customers.

Be sure to follow us on the blog and on LinkedIn to keep up with the latest industry trends. And don’t forget to check back next Wednesday for the latest FIN List.