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Many banks talk about the need to replace legacy core systems, but relatively few go through with it. The CEO of Mechanics Cooperative Bank in Massachusetts explains the case he made to his board that the promise outweighed the risk.
Alice Milligan, its chief digital client experience officer, said the company dedicated itself to delivering what customers really want and that more features are on the way.
The most satisfied customers are those who frequently use online or mobile banking, but still visit branches two or three times a month, J.D. Power said in its annual Retail Banking Satisfaction Study.
Established banks and financial startups bring different perspectives to the negotiating table. Better understanding those differences can make the sale of a fintech go more smoothly.
The issues at Wells Fargo extend beyond the fines; Ally Financial's auto finance chief departs; ICBA chief Cam Fine signs off; and more from this week's most-read stories.
Banks struggle to make their websites and apps a destination rather than a utility. Analyst Jacob Jegher offers some ideas for building digital relationships.
