Up until now, no fintech company has succeeded on a mass scale to offer solutions beyond its core product. But disruptors are trying to go in that direction, and banks should watch their efforts closely.
Financial services IT teams must think like cybercriminals and develop an offensive approach to security at a time when threats are growing in frequency and sophistication.
Paper-based marketing Â-- not digital communication Â-- remains a more promising way to reach customers 50 and older, who also tend to be a bank's wealthiest client segment.
There's no tech solution in the world that can prevent cybersecurity attacks. To mitigate risks, however, banks can apply four controls after they first determine their risk tolerances.
Increasingly, our conversations about digital banking are only about technology. We must expand our dialogue to include ways to make digital banking empathetic.
For large banks, the risks of partnering with marketplace lenders do not matter. But small community banks can't afford to partner with competitors angling to poach their customers.
With new fintech investments tapering off and banks starting to get the hang of digital innovation, young companies need to take a hard look at their business models.
