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Banking For A Customer-First Era

Mobile is without doubt the present of banking and a pillar of the consumer’s pursuit for relevant, on-hand amenities. While digital doesn’t just mean good things for the customer; financial institutions are interested in the online model as it is significantly less expensive, more accessible, and can produce more customer intelligence than traditional banking.

But what is the challenge in digital banking transformation? With this shift into mobile, the bank will need to rethink traditional business models, define new revenue sources and above all, keep the customer interacting and engaging in a new way.

That’s exactly when relationship banking comes in.

 

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Topics: relationship banking, ENGAGER, customer insights, banking, personalized finance

Author: Erik Brieva, CEO on Oct 12, 2018

Zoe Plasencia: On Being a Project Manager at Strands

The role of Project Manager requires someone who can wear a lot of different hats —especially in the FinTech game— and who has the ability to skillfully accomplish tasks, managing a team of talented people. Zoe Plasencia is one of these phenomenons who makes projects happen at Strands.

Zoe’s career started in IT Development at IBM, spanned to Technical Leadership and progressed to her current role in Project Management (PM) in the digital banking space.

Here, we share a little more about what PM looks like for her, what’s unique about her position at Strands, and what her preferred methodologies are in reaching company goals successfully.

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Topics: Project Manager, FinTech project management, Company Culture

Author: Miriam Ballesteros on Sep 27, 2018

SME Banking: Become your SME customers' primary bank in 2018

According to FIS Global's 2018 PACE (Performance Against Customer Expectations) Report, 43% of SME banking transactions in the UK are completed digitally, and 60% of SMEs increased their use of digital transactions in the past year.  In the US, the same report shows that 42% of SMEs use their mobile banking app (online and/or mobile) more than a year prior, but interestingly, far fewer small businesses are planning to jump ship, with 8 out of 10 SMEs satisfied with their banking provider. 

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Topics: Financial Management for Small Business (BFM), Digital Transformation, Unbanked, Underbanked, BFM, ENGAGER

Author: Cesar J. Richardson, VP Sales and Operations (Americas) on Sep 25, 2018

Why Banks Need Fintechs To Understand Their Customers

The banking and FinTech community now widely view data as the new frontier of finance.

The successful banks of tomorrow understand that the key to success lies in harnessing their massive amounts of customer data, and to successfully do this, they must collaborate with their agile counterparts: FinTechs.

 

 

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Topics: FinTech, Innovation, fintech innovation, fintech disruption

Author: Timothy J.Woods on Sep 17, 2018

A Little Insight Goes A Long Way

Engaging the SME customer & Improving Cash Flow

The number one aim of small businesses is to become profitable, and quickly. By nature, a small enterprise will have seasonal ups and downs and a cash cycle dictated by factors beyond their control, so ensuring they have enough cash in hand is critical. Profitable companies might see their cash reserves affected if they are moving too fast, and stagnating companies might find an unexpected liquidity issue unsurmountable.

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Topics: SME banking, SMEs, ENGAGER, customer insights, Artificial Intelligence, data analytics, machine learning tools

Author: Estefania Gual on Aug 23, 2018

Behavioral Economics: The Bank's Secret Weapon

In this digital era, with easy, fast and limitless options, decision-making has become even more difficult.

Banks can’t predict user behavior with absolute certainty, but they can help frame their financial decisions by understanding how choices are made, and designing solutions around them.

This is where Behavioral Economics, the study of how and why we make decisions, can be a powerful tool for the banking industry.

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Topics: behavioral economics, Personal Financial Management (PFM), banking, banking and technology, chief behavioral officer

Author: Miriam Ballesteros on Aug 1, 2018

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