Follow the Money
What are the truly"hot" technologies in banking? They're the ones that banks and credit unions actually invest in. At the end of the past few years, Cornerstone has surveyed financial institutions to find out which technologies they plan to add or replace in the coming year. Here are the top five for 2019:Not only was digital account opening the most-frequently cited technology for addition or replacement, it was at the top of the list of technologies that banks plan to pursue fintech partnerships for. Some institutions may not get what they're looking for, however.
in this account opening space--e.g., Jack Henry/Bolts, Temenos/Avoka, Q2/Gro Solutions, and a FIS/Zenmonics partnership--will have a big impact in 2019 and 2020.Venmo and Square may get a lot of press regarding P2P payments, but banks are the real leaders in the P2P payments race. Consumersa little more than $300 billion in funds to other people through their banks and credit unions in 2018, with Zelle accounting for about 40% of that.
That's for sure. The state of CRM in most financial institutions is abysmal. Few have a CRM plan that outlines goals and priorities established by the senior management team, or have a CRM scorecard with specific and realistic targets.The pendulum may stay on the enterprise-wide deployment side for another couple of years, but if banks don't get their CRM management practices and processes in order, the pendulum will swing back to distributed CRM.
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