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THE RISE OF CONSUMERIZATION
COVER STORYBanks May Not Be Able to Resist 'Bring Your Own Device'User-friendly consumer devices such as Apple's iPad increasingly are infiltrating the enterprise and transforming workforce expectations. Despite security concerns, employee demands and the productivity gains powered by bring-your-own-device initiatives are forcing banks to embrace BYOD. Banks Can't Afford to Be Afraid of Social Media Banks ignore social media at their own risk. But effectively taking advantage of the ever-growing channel requires more than just setting up a placeholder presence; it requires true engagement and authenticity. Sidebar: 3 Tips For Implementing Banking BYOD Initiatives Banks must focus on improving BYOD skills. Here are three critical steps. Banks Find Lessons to Improve the Consumer Experience in the Online Retail Model Online retailers have led the way in providing the kinds of real-time, personalized transactions that consumers have come to expect. What can banks take away from the modern retail experience to improve their own customer satisfaction? 4 Keys to Connecting With Customers In the Mobile Age Banks face big hurdles to engaging consumers in the mobile era, says Dell's Bob Barris. He offers tips for getting closer to customers. FEATUREBuilding a 21st Century Agency: An Inside Look at the CFPB's Technology InfrastructureWhile it has begun outreach initiatives to help it understand the scope of its task, the Consumer Financial Protection Bureau also has had to build its tech infrastructure. CFPB CIO Chris Willey recently spoke with BS&T about the benefits and challenges of being a newly created entity and about how technology advances the agency's mission. PERSPECTIVESProviding a Distinctive Customer Experience: The Power of Customer Communications ManagementWhen it comes to customer communications, a personalized, multichannel experience is required.
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FROM THE EDITORConsumerization in Banking Is Driving More Profitable RelationshipsConsumerization is changing how both customers and employees interact with their banks through BYOD, social media, and more-customized and targeted approaches to product development. INDUSTRY WATCHHow the Global Payments Data Breach Affects BanksWith yet another high-profile attack against a third party, banks are reminded that security vigilance extends well past their own walls. B to B Payments Fraud Down Slightly in 2011: Report A survey conducted by the Association of financial Professionals also found that larger corporations were the more frequent target of attacks. Amazon's Kindle Fire Heats Up Tablet Banking App Development Bank of America and Citi confirm that providing a unique experience on each mobile device, including Amazon's tablet, is a key part of a customer-centric mobile strategy. The Future of Corporate Banking: Intelligent Transactions to Improve the Customer Experience The next big thing in the treasury services/corporate banking space will be bringing intelligence into high-value transactions, according to participants at the recent SWIFT Operations Forum. Report Points to Security Holes in Customer-Facing Bank Apps The CRASH Report, a study of the structural quality of applications, reveals that banks have some work to do when it comes to making their customer-facing applications structurally sound and secure, especially as they innovate in the mobile channel. ANALYTICS WATCHState Street's Chief Scientist on How to Tame Big Data Using SemanticsSemantic databases are the next frontier in managing big data, says State Street's David Saul. COMPLIANCE WATCHCreating a FINRA-Friendly Social Media PlanHere's how financial institutions can begin to effectively leverage social media tools without violating compliance requirements. BEST PRACTICESNational Bank of Abu Dhabi Creates a Modern Data CenterNational Bank Abu Dhabi signficantly reduces energy use and downtime by leveraging multiple Emerson Network Power solutions to modernize and manage its data center infrastructure. EXEC WATCHWells Fargo's Secil Tabli Watson Looks to Improve the Corporate Banking ExperienceAs the new head of Wells Fargo's wholesale Internet services group, Secil Tabli Watson brings lessons learned from her former position as head of the bank's consumer digital channels to Wells' commercial and corporate digital channels, where she will continue to focus on improving the customer experience. |
