Customer service

A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity.

There are ways to provide a better consumer experience, even when institutions are looking to settle up on unpaid accounts.

With smaller screen sizes and increased levels of distractions ranging from a text or a notification, pitfalls in the checkout process can result in more abandoned carts than successful transactions, writes Andre Lyver, director of engineering for financial services at Shopify.

AxiomGo is being offered to customers seeking alternatives to prepaid cards and traditional checking accounts.

Payment data can also reveal insights for companies to foster better relationships with customers and vendors or suppliers, writes Matt Clark, president and COO of Corcentric.

Manual means of dispute management are inefficient and growing untenable in the current security and compliance environment, writes Brad Johnson, director of solutions consulting at Centrix Solutions.

The Consumer Financial Protection Bureau issued a request for information Thursday on the bureau’s public reporting of consumer complaints, which has long vexed the financial services industry.

An omnichannel payment platform offers customers a unified shopping experience across whichever channel they decide to make a purchase, whether via point-of-sale in-store, online, mobile or even telephone, writes Nick Aceto, senior vice president of technology for CardConnect.

Given the rapid pace of change across the industry, it’s wise for banks to focus on improving customer service rather than chasing the strategies of their rivals.

Scores of customers have been unable to use digital channels to access accounts for more than a week, and many have taken to social media to voice their displeasure with TD’s response to the outage. The lesson for other banks: Test new platforms, and test them again, before making them live.