Keeping the customer in mind post-acquisition

by CDW Financial Services|Nov 2, 2016

The climate for M&A in financial services is favorable — a trend that experts predict will remain the same in 2017. This week’s FIN List takes a look at what banks should focus on once the post-acquisition dust settles. Plus, we’ve got the key findings from Gartner’s 2017 IT spending survey and the latest on cybersecurity rules, core conversions and mortgage tech.

  1. Focus on the customer post-acquisition. All too often the impact of a merger or acquisition on the customer is an afterthought. But the fact remains that customers are vulnerable after an acquisition — so much so that J.D. Power and Associates found that customers are three times more likely to leave a bank during the process than at other points.
  2. 10 key findings from Gartner’s IT predictions survey. Gartner predicts a pickup in IT spending in 2017, thanks to increasing interest in software and communications services. This is a welcome change after years of contraction in some segments. Watch this slideshow for other key findings from this year’s survey.
  3. Regulators draft new cybersecurity rules.S. bank regulators will issue new standards for banks to protect themselves from cyberattacks. These come in the wake of U.S. banks suffering serious losses from online thefts and will require banks to employ the best cybersecurity tools available.
  4. Need a mortgage? Some Millennials would consider an app for that. According to a new survey, more than 41% of Millennials say they would be willing to use an app to buy a mortgage, and over half would take out a mortgage with a challenger bank.
  5. Follow these steps for a successful core conversion. A core conversion can be a daunting task. But by following these seven steps — including assembling a dedicated team, selecting the right vendor partner and conducting mandatory training — your organization can achieve core conversion success.

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