| What It Takes For A Bank To Go Digital â And Keep Its Customers
Approximately one-third of banks' customers are "hidden defectors" â customers who maintain accounts at one FI, but go to competitors for additional services. Salesforce SVP and general manager of financial services Rohit Mahna says part of the problem is that banks are taking a product-first approach to customer service. If a bank is going to truly evolve, it must start with the customer and position services from there. Mahna explores how next-gen CRM solutions â bolstered by artificial intelligence and API technology â may help prevent customers from wandering off.
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| PYMNTS Faster Payments Tracker⢠|
| NEW REPORT: With Zelle, FIs Want To Be Everyoneâs P2P Bae
P2P FinTechs like Venmo and Square Cash gained popularity by winning over millennial users, which was rad. Now, the bank-backed platform Zelle is escalating competition by targeting millennials and their parents. Is it game on? In this monthâs PYMNTS Faster Payments Trackerâ¢, powered by NACHA, Melissa Lowry, VP of marketing and branding at Early Warning Services, the bank-owned company that runs the Zelle network, discusses the advantage of a P2P service supported by traditional FIs and the thinking behind offering Zelle as a standalone app. Plus, notable faster payments headlines, inside the latest Tracker. Itâs lit.
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| | Payments Fraud | | Inside Mastercardâs Journey To Predicting Card Fraud
In an age ever swelling with data breaches, reacting to fraud once itâs presented is not good enough. Mastercardâs Early Detection System gives issuers advanced alerts on cards and accounts that may be at risk, before the damage is done to consumers, issuers and merchants. Being proactive is now the name of the game, as Bruce Rutherford, SVP of Mastercardâs Security Standards & Solutions, gives PYMNTS an inside look at the platform and how it all works. Read More... |
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