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Archive by Bob Meara

Yesterday, NACHA issued a press release announcing initial steps towards same-day ACH. This is a second attempt at accelerating ACH payments. Rather than a “big bang”, this second attempt advocates a phased approach, inviting banks to invest in three projects instead of one. The sentiment seems worthwhile, but I’m not convinced that this is a […]

Mar 19th, 2014 | Filed under Banking, Corporate Banking, Retail Banking

Last week, Wells Fargo promoted new banking by appointment via outbound e-mail marketing. I say it’s about time! Here’s how it appeared: Online appointment booking is just plain smart. It’s also overdue. For years, consumers have been able to schedule appointments with healthcare providers, hair dressers and restaurants – why not banks? The idea makes […]

Mar 13th, 2014 | Filed under Banking, Retail Banking

Banks and credit unions have been bemoaning the decline in branch foot traffic for some time now. In part, this is a result of widespread and accelerating consumer preferences for digital channel interactions. In a 2012 Celent survey of North American financial institutions (an effort we intend to repeat in 2014) , nearly half of […]

Feb 5th, 2014 | Filed under Banking, Retail Banking

I just finished two remote deposit capture (RDC) related reports last week – and yes, they took way too long to complete. The first was a comparison of vendor solutions and the second an analysis of the state of RDC with projections for the future. Having been immersed in RDC for a bit (OK months) […]

Jan 13th, 2014 | Filed under Banking, Corporate Banking, Retail Banking

Apple is often cited as an excellent example of how bank branches should be – Apple Stores that is. I couldn’t disagree more. Far from a thorough analysis, let me support my disappointment with the Apple Store customer experience. I recently had need for a simple transaction. All I wanted was a new iPhone. What […]

Dec 19th, 2013 | Filed under Banking, Retail Banking

While Bitcoin captures the imagination of millions, another electronic payment mechanism has been slowly gaining momentum without much notice. Unfortunately so, because it holds significant promise. I’m referring to the Electronic Payment Order (EPO). EPOs are one of a small variety of checks – but without the paper. Originated electronically, EPOs are processed, clear and […]

Nov 21st, 2013 | Filed under Banking, Corporate Banking

Now in our seventh year, Celent is seeking nominations for its Model Bank awards. Each year, we honor a hand-picked selection of financial institutions who model excellent utilization of technology in banking. Celent Model Bank 2013 winners represented 19 financial institutions across 12 countries. All received recognition at our annual Innovation and Insight Day this […]

Oct 25th, 2013 | Filed under Banking, Corporate Banking, Retail Banking

In a word, yes – and not a moment too soon. As thousands gather for Money 2020 in Las Vegas this week giving ear to a bevy of start-ups promising mobile payments nirvana, a small but growing number of retail banks are addressing those same consumer dynamics with much needed right-sizing of their branch networks. […]

Oct 9th, 2013 | Filed under Banking, Retail Banking

Customer analytics is so hot right now – for good reason. There are at least three reasons why now is a good time for financial institutions with no customer analytics experience to take the idea seriously. And for those with customer analytics initiatives, why now is a good time to revisit how and how broadly […]

Sep 17th, 2013 | Filed under Banking, Corporate Banking, Retail Banking, Uncategorized

Mobile RDC (mRDC) is so hot right now. And, for good reason – the capability matters to consumers. In fact, consumers value it rather highly compared to other mobile banking functionality. In a June 2013 Celent survey of US internet active consumers, mRDC was the second most highly valued capability surveyed, with two-thirds of smartphone […]

Aug 22nd, 2013 | Filed under Banking, Retail Banking