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04/30/2019

Chatbots and virtual assistants poised to disrupt customer experience for FIs

Customer experience. In the last decade, it’s moved from operational afterthought to strategic differentiator, with brands like Zappos and Amazon setting a high bar for all industries. Consumers and businesses now expect: 24/7 availability Immediate answers Personalized service Tailored recommendations Access via phone, web, apps, live chat—even voice assistants like Siri and Alexa Chatbots and…

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04/24/2019

Why banks should institute rate floors if they haven’t already

Ah, the ever-changing economy. One day interest rates are up, the next day they’re down. Not exactly a roller coaster, but it’s at least a merry-go-round. Those rates impact the mortgages banks offer to their customers, adjustable rate mortgages most of all. Customers choose ARMs because they’re betting the rates aren’t going to go up…

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04/23/2019

Exploring acquisition trends in banking

Recently, we noticed a trend of credit unions purchasing community banks and were curious about why this was happening. Research from Filene Research Institute confirmed the trend and shared insights about why credit unions are doing this, if we should expect to see more, and if community banks should consider looking at acquiring credit unions….

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04/22/2019

The yield curve is inverting. That’s signaled recession since the ’60s. Now what?

Can we predict the future by looking at the past? When you’re talking about finance, the answer may well be yes. Every recession we’ve had since the 1960s occurred about a year after an inversion of the Treasury yield curve. And, it looks like that’s starting to happen right now. But it’s not time to…

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04/16/2019

Top use cases for artificial intelligence in banking

Analysts estimate a $1 trillion AI opportunity for the industry. $1 trillion. That’s the magic number for artificial intelligence (AI) in banking. Numerous analysts predict that in the next 10 to 15 years, an influx of AI-powered applications will create $1 trillion in savings for the industry.1 That figure comprises front and back office opportunities—everything…

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04/02/2019

How well does your bank speak AI?

Explore the fundamentals and sharpen your tech savvy. Can your bank explain the ins and outs of algorithms and deep learning? Do you know your neural networks from your natural language processing? Can you spot an RPA working diligently in your office? If so, congratulations! You’re an artificial intelligence (AI) ace. For the rest of…

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03/28/2019

Oh, Canada! Bangor Savings Bank Debuts RDC for Canadian Items

Enhanced functionality curbs FX risk and eliminates stranded items Bangor Savings Bank, headquartered in Bangor, Maine, embodies customer experience. Founded in 1852 and driven by the motto “You Matter More”, the community bank continuously strives to create a seamless and convenient experience for the businesses and consumers it serves. Yet as a bank comprised of…

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