Customer service

How do you eliminate "pain points" in the banking experience, increase wallet share and improve loyalty? Companies like Ally, USAA and Bank of the West are believers in tracking the customer journey to find the answers.

Consumers are more than willing to share retail payment information, geolocations, as well as Uber, OpenTable, Facebook, and Twitter information. However, they have high expectations for what they receive in return, writes Lisa Woodley, vice president of FSI customer experience for NTT Data Services.

There are a number of tactics and solutions organizations can employ to shut down the favored methods of fraudsters, including the use of bots and device compromise, writes Michael Lynch, chief strategy officer at InAuth.

The move comes at a time when banks are becoming more aggressive in acquiring or investing in financial technology companies.

Capital One became the latest bank to feel customers' online wrath last week after reports that some customers were being charged twice for debit card activity. But it was hardly alone.

First it was coffee and car service, and now it could be cashier’s checks and debit cards. Matt Krogstad left his bank job to build tech that lets bank customers order products at the press of a button and pick them up at a branch or get delivery.

Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.

When taken in the context of the complete invoice and payment cycle, manual payments not only have higher processing costs to the provider and supplier, but also result in delays between processing and making payments, writes Darci Guerrein, vice president of payment operations for GHX.

Commercial customers, including small businesses, seem ready to pay up to shift to faster, more sophisticated electronic invoicing and payments, and enterprising banks that provide them the technology to do so could find it lucrative.

SMBs are choosing virtual cards as their preferred form of electronic payments because they solve many of their payment challenges, while also helping them avoid the costs associated with custom software solutions designed for larger businesses, writes Blair Jeffery, COO of Noventis.