Customer service

The breach occurred through a vulnerability in third-party file transfer software, and it took weeks for the bank to discover it.

AI isn't inherently good or bad; its value depends entirely on how it's used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.

High winds continue to impede firefighters' progress in the Pacific Palisades and Eaton fires.

Few banks are listening to what their customers are saying on Reddit, but the site can help them spot customer complaints and develop content that dispels misinformation. 

If banks want to create customer loyalty and support growth, they need to holistically focus on the human factors that ultimately influence business outcomes.

A new government effort intends to tackle unfriendly consumer practices. The CFPB is tasked with addressing chatbot misuse and customer service "doom loops."

Air Canada was penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software.

Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.

Eras come and go, but the ongoing investments in developing, empowering, leading and retaining superior personnel will remain the highest priority of top-performing financial institutions.

Why banks believe fraud prevention and customer experience are both top priorities