The UK’s doing it. At least 27 other countries are doing it. And Stateside, Arizona, Utah and Wyoming are doing it. What are they doing, you ask? They’re playing in sandboxes – regulatory fintech “sandboxes”, that is. And they’re making strides towards greater – and faster – banking innovation than otherwise possible on the highly-regulated […]
In a world of competing priorities and instant gratification – Small Business Owners expect speed and simplicity when applying for loans with their Community Banks or Credit Unions. Take a look at what we’ve learned by working with Financial Institutions to grow their Small Business Lending! Download our free PDF of The Five Minute Problem […]
Innovation used to be the domain of large banks. Think ATMs, all-purpose credit cards and online banking. But the Great Recession and a more complex compliance landscape changed that. Enter fintech startups. Working in the same space as banks, alongside banks and even competing with banks, fintechs claimed the world of financial innovation as their […]
A 2018 Federal Reserve survey revealed that about 59% of small banks and 57% of large banks consider borrower relationships to be their most important competitive advantage. However, this roadblock is steering many small-business (SMB) borrowers away from traditional banks and towards alternative lenders, putting invaluable bank-borrower relationships at risk: ‘bank’ speak. What’s ‘bank’ speak? […]
Over sixty percent of participants in a survey conducted for American Bankers Association reported banking online or on mobile more than any other method. How many participants said they bank primarily in branches? About 18%. Does that mean the bank branch is dying? Not necessarily. Even millennials still visit bank branches regularly. And as Mirador’s […]
How many consumers, would you say, still do their banking primarily in branches? According to this recent American Bankers Association survey, about 18%. The basal problem? Today’s branches are too focused on simple transactions that lend themselves to digital self-service. But If you think that means the bank branch is dying, think again. Over 50% […]
89% of Americans are online. And a whopping 77% of Americans are online every day. The near ubiquity of the internet and mobile devices has changed how Americans gather information, make decisions and even manage relationships. With a majority of 69% of US adults, and 88% of those aged 18-29, using some type of social […]
What does data have to do with customer experience? Let’s just say the relationship is big. In fact, “big data” is helping a growing number of companies create personalized experiences that make it easier and faster for consumers to find what they’re looking for. Think Apple, Netflix or Amazon. For many banks and credits unions, […]
Even with significant resources at their disposal, big banks still struggle to crack the code on optimal customer experience. Why? It’s tough work that requires innovation and creative freedom to test new concepts. And too often regulators are used as an excuse to avoid that work. Although regulators and regulation exist to prevent the kinds […]
What started as a routine flight for the 155 people on January 15, 2009, become known as “Miracle on the Hudson” or “the most successful ditching in aviation history,” as one National Transportation Safety Board official would later say. Ten years later, we celebrate the remarkable happening, the resilience of the human spirit and the […]
