5 topics expected to trend at #FinovateFall 2014, NYC

Finovate has come a long way from where it began in the year 2007 (New York). The objective was to bring the FinTech community together to foster innovation, and Finovate did just that. This year at FinovateFall we expect the following topics to garner attention at the show.   1. Apple Pay: From planning till its launch this has been the talk of the town. We expect talks on how payment community is going to use this technology to create

Getting your customers to talk positively about your bank

According to the latest survey in Retail Banking by Gallup, most of your customers are talking about your bank. In fact, 72% of respondents reported talking to others about their primary bank over the last three months. They have been using various channels in the past but now it’s primarily Social Media. The banks have been constantly building their loyal customers through fans, followers etc. but you have to realize that it takes less than a second for your customer

One Word Answer To Bank’s Customer Retention Problems

One Word Answer to Bank’s customer’s Retention problems

Make no mistake, a significant portion of account-holders want to switch their banks. EY found that over a 12-month period, 52 percent of those surveyed had opened or closed at least one account, and another 40 percent planned to do so in the coming year. It’s obviously not wise to formulate a strategy in which ‘acquiring’ is given the first priority and ‘retention’ second. How can banks retain their valuable customers and searching for ways to control this situation?  The

5 Tips to stop technology from taking your customers away

Do you know that technology is taking your customer away from you? The lack of efficient customer engagement techniques, inefficient use of available communication channels, lack of an emotional connect are all contributing factors to this phenomenon. While enjoying the upside of technology like reduction in time, cost and effort incurred, this major downside goes unnoticed. And this has to be avoided. Of course, banks are businesses which have targets to achieve and profit goals to meet. So why should

Banks are changing from financial intermediaries to financial facilitators

Finally!!! Banks have started to think out of their conventional business models. Their rusted role as financial intermediaries is evolving into that of financial facilitators. So what caused this giant shift in the thought process? And why would a bank want to be a financial facilitator? Banks have always been trying to perfect their internal workflow and go omnichannel. However, the major concern that always remained unattended has been as to  “Why a customer should choose your bank over another

Customer Retention through Closed Group Reward Programs for Banks

Have you ever dreamed to be part of your customers’ everyday decision making process? Such that, before every decision, they make they would think about you first. ‘Closed Group Reward Portals’ enable banks to be a part of customers’ decision-making process for each of their needs. This continuous engagement can be converted to a strategy which involves repeated use of banking products/services. This ingenious concept can help banks step out of its shoes of being a mere financial partner to