Customer experience

Axcess Financial is using stronger authentication, studying up on bad actors and planning to use a federal service that automates verification of Social Security numbers.

JPMorgan Chase is cracking down on racism by its customers. The bank is revamping a policy for dealing with abusive clients to include racism toward call-center employees as behavior that could warrant cutting ties with the customers.

Now perhaps more than ever, banks and their proxies need to show tact when communicating with past-due borrowers.

Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.

Butte Community Federal Credit Union, which previously served just one county, added five more after getting regulatory approval.

Credit union executives have led teams through past crises, but the pandemic has created new economic stresses and mental strain that CEOs must address.

Digital banking has ramped up during the coronavirus lockdown but customers will seek somewhere to go as cities reopen. A branch could provide that safe haven.

Tyrie has advanced Bank of America’s virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers. Those achievements have earned him recognition as one of American Banker’s digital bankers of the year.

Credit unions need a clear strategy if they hope to break through to consumers already overwhelmed by the coronavirus.

The industry is well positioned to gain market share, but institutions may not see the same levels of growth as after the last recession.