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Posts in category "Payments"

05/15/2014

Fraud and Confidence Play a Role in Cross-Sell

When customers are made aware of the fraud prevention strategies their financial institutions use, they have more confidence in those institutions and become more loyal customers. Financial institutions that effectively communicate their efforts to prevent fraud and protect customers create a shared understanding of values and increase the likelihood customers will cross-buy other products and…

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05/08/2014

You Say You Want a [Payments] Evolution?

When you draw a standing-room crowd for the breakfast slot on the final day of a major industry conference, it’s safe to assume people are interested in your topic. Still, I suspect even the Fed was surprised by the turnout for the readout on their Payment System Improvement initiative. Cheryl Venable (of the Fed’s Retail…

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05/01/2014

Remote deposit capturing more interest among small businesses

In my January blog I discussed the continued preference that small businesses show for paper checks for business-to-business payments.   So it may not be a surprise that local bank branches remain the preferred channel for most business deposits. However, in both cases, there is great opportunity for financial institutions to step in and offer more…

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04/10/2014

Business payments – the journey from paper to ePayment

Regardless of what you are hearing about checks declining, businesses in the U.S. still pay half of their bills by check, according to a September survey by the Association for Financial Professionals. While its down from the 2007 numbers (74%), the rate of decline has and is slowing which suggests that there are some stubborn…

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03/27/2014

Report shows fraud prevention has strong tie to cross-sell

Financial institutions that do more than their competitors to protect account holders from fraud, and share the news about those efforts, have more loyal account holders and enjoy stronger relationships with them. While that may seem like a logical supposition to make – one that could be used to inform a fraud prevention strategy, perhaps…

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03/20/2014

Bridging the gap between paper checks and online payments

This is an exciting time to be in the payments industry. Events like Finovate are loaded with new ideas on how to innovate within the financial services space. Although most of these innovations are focused on the consumer, three out of four businesses with less than $10 million in revenue continue to make the majority…

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02/27/2014

Is anyone still writing checks? The answer may surprise you

When the question “Who is still writing checks?” comes up in conversation – and I recognize it probably comes up more in my conversations than yours – the answers aren’t quite what the conventional wisdom would have you believe. It is true that, generally speaking, the older you are the more checks you tend to…

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