NG Data

AUGUST 15, 2024

The impact of behavioral economics on financial decision-making, particularly in community banks. It explores how cognitive biases and emotions influence customer behavior, driving some banks to introduce innovative tools and services aimed at improving financial literacy and savings habits. appeared first on NGDATA.

Banking 52

Banking Innovation Decision-making 52

NG Data

MAY 8, 2024

The annual list of independent bankers' best-performing community banks showcases the success achieved by these banks through their hard work, flexibility, and expertise. Source The post Best Performing Banks in 2024 appeared first on NGDATA.

Banking 52

Banking 52

NG Data

AUGUST 9, 2024

Sonata Bank has adopted a niche strategy inspired by the fast-food industry to address the high employee turnover in quick-service restaurants. By providing simple, frictionless banking experiences and leveraging the Digital Onboarding platform, Sonata helps financially underserved employees adopt banking services.

Banking 52

Banking Onboarding Digitalization 52

NG Data

MAY 16, 2024

Community banks are embracing innovation and technology to stay competitive. ChoiceOne Bank built its loan origination platform and offers it to other financial institutions. BAC Community Bank has hired professionals with data analysis backgrounds to help with software and other projects.

Banking 52

Banking Innovation Software Software 52

NG Data

AUGUST 15, 2024

Community banks are increasingly shifting their advertising efforts from social media to streaming platforms like Peacock, Hulu, and Disney Plus. Streaming allows banks to reach broader and more diverse audiences, especially through live sports, which have proven to be highly engaging.

Banking 52

Banking Media Marketing Advertising 52

NG Data

DECEMBER 6, 2023

Banks face challenges from oversight, innovation, and competition. Despite past issues, the last 18 months have been the best period for global banking since 2007. Source The post Global Banking Annual Review 2023: The Great Banking Transition appeared first on NGDATA.

Banking 52

Banking Innovation 52

NG Data

JUNE 18, 2024

In the transition to a cookie-less future, banks must leverage first-party data while maintaining privacy and regulatory compliance. By adopting privacy-centric strategies, banks can enhance customer experiences, boost engagement, and foster trust.

Banking 52

Banking Customer Experience Marketing 52

NG Data

JUNE 13, 2024

AI's impact on banking jobs remains limited, particularly in community banks, where customers and leaders prefer human interactions. Younger generations, comfortable with technology, will drive AI adoption in banking. Source The post Why AI Isn’t Coming for Your Banking Job appeared first on NGDATA.

Banking 52

Banking 52

NG Data

JUNE 13, 2024

Composable banking enhances digital customer experiences by utilizing modular components rather than monolithic systems, allowing financial institutions to quickly adapt to market changes and integrate new services seamlessly. This approach improves operational efficiency, customer engagement, and supports innovation.

Banking 52

Banking Customer Experience Digitalization Innovation 52

The Center for Sales Strategy

MARCH 14, 2023

Building, and maintaining, a talent bank is not for the faint of heart. Now imagine the added stress that occurs when you’ve made a heroic effort to build a great talent bank, and it runs dry.

Banking 96

Banking Management Sales 96

NG Data

JUNE 13, 2024

Legacy banks are under pressure from digital-first neobanks that offer convenience and modern services. To stay competitive, traditional banks must embrace digital transformation by adopting AI and mobile-first strategies. This shift is crucial to meet evolving customer expectations and capitalize on the growth of digital banking.

Digital Transformation 52

Digital Transformation Banking Digitalization Meetings 52

The Center for Sales Strategy

SEPTEMBER 6, 2022

What if you had a Talent Bank full of these talented people? Would you manage your people differently if you had your next Sales Superstar sitting on the bench, ready to jump in? If you are like most leaders, you would probably hold your people more accountable for meeting expectations, and you would refuse to tolerate poor performance.

Banking 114

Banking Meetings Management Sales 114

NG Data

MAY 16, 2024

Community banks face compliance challenges due to regulations and limited resources. Tools like HawkAI, TridentAI, Greenlite, Shiboleth, and Parcha empower community banks to navigate compliance requirements more efficiently. Source The post Navigating compliance in community banking: AI brings opportunity appeared first on NGDATA.

Banking 52

Banking 52

NG Data

DECEMBER 12, 2023

Community banks, often overshadowed by larger institutions, are experiencing a resurgence in growth due to big bank branch closures and their unique ability to meet the specific needs of local communities. This shift towards local, community-focused banking could lead to increased migration to community banks in the near future.

Banking 52

Banking Customer Experience Meetings 52

NG Data

APRIL 11, 2024

Community banks are locally owned and operated and provide small business loans, agricultural loans, and commercial loans. They focus on personal relationships with customers, keep up with technology, and are more flexible than larger banks. They are active locally and often participate in community initiatives.

Banking 52

Banking Small Business 52

NG Data

MAY 8, 2024

The "Main Street" banking model is being squeezed due to various factors, including changes in the definition of community, generational changes, product pricing, the economics of talent, and government regulations. However, small businesses may help save community banking in the long run. appeared first on NGDATA.

Banking 52

Banking Government Small Business 52

NG Data

APRIL 18, 2024

Banks use real-time client data, AI, cloud computing, and open banking to enhance digital experiences and provide personalized interactions. It also promotes financial inclusion for underserved communities by expanding banking options. Source The post 4 Ways Personalization Is Evolving at Top Banks appeared first on NGDATA.

Banking 52

Banking Digitalization 52

NG Data

OCTOBER 24, 2023

Last month, we attended the Bank Marketing Conference by the American Bankers Association in Austin, which showcased insights, case studies, and networking opportunities. ” The conference covered various topics related to banking marketing strategies, including customer engagement, digital transformation, and brand management.

Banking 52

Banking Marketing Digital Transformation Digitalization 52

Customer Think

MAY 13, 2024

Banking and financial services is a complex business. Service providers need to offer great products with competitive rates and all within the rules enforced by industry regulators. Compliance is not an option.

Banking 62

Banking Financial Services Business Services Customer Experience 62

NG Data

APRIL 18, 2024

A recent survey by the ABA shows that while the use of AI-powered marketing technologies in banks is still low, the potential impact of AI is significant. Source The post Bank marketing and AI: Here today, gone tomorrow?

Banking 52

Banking Marketing Customer Experience 52

NG Data

MAY 29, 2024

Federal banking regulators have increasingly imposed new rules on community banks, responding to the risky practices of large institutions. Since July, nearly 7,000 pages of new regulations have been introduced, disproportionately burdening smaller banks.

Banking 52

Banking 52

NG Data

OCTOBER 25, 2023

In today’s digital landscape, banks must continually adapt their digital toolkits to remain competitive and deliver consistently positive customer experiences. AI plays a central role in developing a customer-led culture, allowing banks to prioritize understanding customer needs, preferences, and pain points.

Banking 52

Banking Digitalization Prioritization Marketing 52

NG Data

MAY 16, 2024

The survey by TD Bank shows that 90% of small-business owners are optimistic about the next 12 months. Source The post Bank Survey: Small-business owners optimistic about their future appeared first on NGDATA. However, concerns about inflation and increasing costs are prevalent.

Small Business 52

Small Business Banking Finance 52

Customer Think

MARCH 3, 2023

The use of AI continues to proliferate among retail banks to meet demands for personalized customer experiences and enhanced fraud protection, as well as to seize internal efficiencies through automation. This issue can be mitigated using several practical approaches that improve how banking providers manage AI […]

Banking 113

Banking Retail Customer Experience Meetings 113

NG Data

FEBRUARY 29, 2024

Teaser offers are popular among banks to attract new customers and deposits. Bank executives should focus on fairness, ease of execution, value, and effectiveness. Source The post Are Teaser Offers Worth the Trouble in Banking? Offers should be clear, consistent, and easy to understand to avoid negative perceptions.

Banking 52

Banking 52

NG Data

APRIL 25, 2024

Credit unions have great customer service, but banks excel in digital services. To build and maintain customer loyalty, credit unions must learn from banks and improve their digital offerings. Source The post Banks Have This Major Edge. Can Credit Unions Catch Up? appeared first on NGDATA.

Banking 52

Banking Digitalization 52

NG Data

MARCH 21, 2024

Despite their value, many banks are hesitant to adopt the send side of FedNow transactions. Source The post Banks are still warming up to instant payments appeared first on NGDATA. They need reassurance that the benefits outweigh the risks.

Banking 52

Banking 52

NG Data

FEBRUARY 1, 2024

Banks can't win the fight against scammers alone. They need a unified effort between banks, regulators, law enforcement, and other stakeholders, along with consumer education and improved collaboration. Banks need to secure the mail system to fight check fraud.

Banking 52

Banking Stakeholders Media 52

NG Data

FEBRUARY 20, 2024

Fiserv, FIS, and Jack Henry dominate the core banking services market, leaving smaller players with unfavorable contracts. Community banks claim services are expensive and delayed. Source The post Community Banks Voice Frustration with Core Tech Providers appeared first on NGDATA.

Banking 52

Banking Marketing 52

PandaDoc

MARCH 4, 2024

A virtual data room , or VDR, is a secure, online space acting as a repository of a company’s documentation, and serves as a virtual hub where company users share real-time information with other investors, clients or stakeholders when executing investment banking deals. What is a data room for investment banking?

Banking 52

Banking Investors Acquisition Stakeholders 52

NG Data

APRIL 11, 2024

The US experienced major bank failures last year, driving the need for regulatory responses. To reduce the risk of destabilizing bank runs, Brookings recommends strengthening liquidity regulations and modifying the Liquidity Coverage Ratio. Source The post How Should Regulations Evolve to Keep Up with the Banking Industry?

Banking 52

Banking 52

NG Data

MARCH 6, 2024

Banks and credit unions should focus on increasing customer engagement to win a larger share of their financial business. Source The post Engaging Existing Customers Drives Banks’ Cross-Sell Success appeared first on NGDATA. Reviving sputtering relationship growth with existing customers can help in cross-selling.

Banking 52

Banking 52

NG Data

MARCH 28, 2024

Source The post Leveling up the bank marketing game appeared first on NGDATA. While AI can make financial marketers' jobs easier, it's still important for marketers to thoughtfully re-craft starter ideas generated by AI tools.

Banking 52

Banking Marketing Prioritization Media 52

NG Data

JUNE 27, 2024

Mobile banking has become the primary banking channel for the majority of consumers, with 58% using mobile apps most of the time, and even higher rates among Millennials and Gen Z. Web banking, in contrast, is seeing a decline in usage, with only 18% of consumers accessing it frequently. appeared first on NGDATA.

Banking 40

Banking Digitalization 40

NG Data

MAY 22, 2024

Many Brits are increasingly cautious about online banking and mobile apps due to concerns about online fraud and data privacy. Source The post Younger generations lead scepticism in online banking amid rising fraud concerns appeared first on NGDATA. Gaining customer trust, especially among younger generations, is crucial.

Banking 52

Banking 52

Customer Think

DECEMBER 1, 2022

In the recent past, big names in the banking sector like Axis Bank and Deutsche Bank have made it to the news for incorporating RPA in their processes. However, even Japan’s biggest banks, like Mitsubishi UFJ Financial Group Inc.(MUFG), MHFG), made headlines for integrating banking […].

Banking 87

Banking Finance 87

NG Data

JUNE 18, 2024

With the growth of digital banking, financial institutions should invest in advanced digital experience platforms (DXPs) to better understand and enhance customer engagement. Source The post Don’t Ask Your Bank Customers If They’re Happy. Watch What They Do, Instead. appeared first on NGDATA.

Banking 52

Banking Digitalization 52