Blog

Author: Gene Pranger
Date: October 9, 2018

How To Slay FOUR Common Convenience Killers

Mobile channels are supposed to improve convenience, but most mobile banking apps have fallen flat. According to a recent Magnify Money report published in The Financial Brand, consumers gave mobile banking apps an average rating of 3.7 out of 5, a merely average 74% score.

The culprit is friction – all of that red tape that kills convenience. Eliminating friction is the primary objective of POPio Mobile Video Cloud’s video banking solution. We’ve been thrilled to hear how our clients have utilized mobile video to reduce friction and create a better experience that builds sales and brand loyalty.

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Author: Tim Pranger
Date: September 12, 2018

What is Video Banking?

What is it and where did it start?

Video banking is the concept of utilizing video collaboration services to deliver live agents to you consumers from anywhere for the purpose of serving, selling, and completing banking related transactions remotely through video without the use of a physical meeting place. 

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Author: Jed Taylor
Date: July 23, 2018

The engagement gap is digital delivery's biggest challenge

Losing the Relevance of Bank Branches

The migration from branches to digital channels continues. According to a Feb. 8 report in the The Wall Street Journal, the banking industry closed 1,700 branches in the 12 months ending in June 2017, this was the largest one-year decrease ever.

Not only are branch numbers falling, but the relevance with the consumers is falling too. I'm sure you remember the day when branch location was the primary decision criteria when selecting a new bank or credit union. Now it's fallen to third place according to Novantas research (2017 Omni Channel Shopper Study). A superior digital banking experience is now number one. In a

different study (2017 Account Opening and Onboarding Benchmarketing Study) they found t

hat about one-third of all consumers prefer to open their account digitally.

Looking at all of this research, it would appear that consumers increasingly prefer digital service over face-to-face branch service.

But not so fast.

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Author: Jed Taylor
Date: July 23, 2018

Retail's Digital Journey - Lessons For Banking

Consumers want to use digital channels and FI's need to adapt and move towards a digital first strategy. As the financial industry goes through this transition, we can learn a bit from Retail's Digital Journey.

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Author: Tim Pranger
Date: July 23, 2018

An Open Letter to Bankers About Your Millennial Challenge

Before we even get started, I need to clear the air. I believe it would be dishonest, disingenuous

and even misleading for me to express my opinion without you knowing what I am.

I am a millennial.

I am also a fintech executive.

I will never forget attending BAI a number of years ago. I watched a group of suits, at least 60 years old or older, discussing and hypothesizing why millennials were giving them so much trouble.

The dialogue went something like this: Millennials are lazy. Millennials are entitled. Millennials whine. Millennials have no idea what the world is or what is expected, and they avoid hard work.

No solutions. The takeaway was simply: millennials need to change. The End.

Really?

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