Customer service

On customer satisfaction and trust, traditional banks scored higher than upstarts in a new study of consumers who took out personal loans.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

The regional bank wanted to make more timely and relevant offers to its customers, especially in the realm of online and mobile banking. It worked with several vendors on a system to analyze customers’ activity and push out personalized recommendations.

The pandemic was certainly a factor, but the Mississippi company says its decision to concentrate interactive teller machines in drive-through lanes and retrain employees who appear on-screen made a big — and potentially lasting — difference.

The feature has become popular during the coronavirus pandemic, providing a quick and simple way for credit unions to confirm users' identities as well as promote products and services.

Stubbs moved from Ohio to Texas last year to open PNC's first customer care center in the Lone Star State. Then the pandemic hit.

Citing the risk of bias and misidentification, cities and civil liberties groups are calling more loudly for a ban on the use of face scans.

By migrating to Fiserv’s DNA core account processing platform, Citizens Bank & Trust in Guntersville, Ala., aims to give customers instant updates on balances and transactions.

Less than half of consumers believe financial services providers adequately protect their personal information, according to an Arizent survey. Banks such as Wells Fargo and Bank of Idaho are offering mobile tools and cybersecurity education that could help rebuild trust.

Wherever they are, customers should be able to access their application and resume the process at a later time, says FICO's Therese Henry.

Small businesses still process a large number of transactions and can fall behind if there are delays, says Valtatech's Jussi Karjalainen.

Compassionate billing, transparency and digital processing can all improve conditions for providers and patients, says Cedar's Florian Otto.