There is $1.3 trillion value at stake in the financial services industry projected by 2022. Capturing this value requires embracing today’s digital disruption and the major technology transitions of mobility, collaboration, cloud, big data analytics, and security.
Join us at Cisco Live Berlin 2016 from February 15th -19th to learn how Cisco can help you on your digital business transformation journey.
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Tags: #CLEUR, customer experience, digital, digital bank, digital solutions, remote expert, security, virtual expertise
As Mike Riegel pointed out in his recent blog, ‘Financial services is the prime example of an IT-intensive industry.’ Financial institutions rely on consistent technology and innovation to compete and to ensure compliance with regulatory requirements. Customers put a lot of trust in their financial services provider to secure their data and privacy.
On the other hand, cyber criminals put financial institutions in their sights in efforts that, when successful, can damage customer trust and an institution’s reputation. Financial institutions around the world are targets for malware, phishing, ransomware, and ATM skimming. The most serious losses come from targeted attacks. According to the Cisco 2016 Annual Security Report, malware is becoming increasingly sophisticated and cyber criminals are launching attacks through a variety of attack vectors, including tools that users trust or view as benign. Furthermore, targeted attacks are on the rise and the cyber criminals are unrelenting in the execution their mission.
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Tags: #SecurityEverywhere, Bill Fearnley Jr, Chris Christiansen, Christian Christiansen, Cisco, ciscochat, cybersecurity, digital, digital bank, Financial Services, IDC, security
I’ve been using online banking for a while now. Just the other day, I had a quick question and saw “Chat Live with a representative” so I decided try it out. As I got comfortable asking a few questions, I started to want to do more. I wanted to talk with the banker. And I’d like the banker to look at my account page with me so I knew we were looking at the same information. It would have helped if I could see the banker and have her give me on-screen guidance.
In a recent report, Alyson Clarke from Forrester interviewed a number of financial institutions that have been using various channels to communicate with their customers from online chat to video. The report revealed that while online chat can be a great way to offer live help, the experience is probably better suited to simple situations.
Apple’s FaceTime has made video communications convenient and simple to use. Video technology has dramatically improved; so it’s time for financial institutions to move beyond chat and offer video banking, true video banking. Read More »
Tags: collaboration, digital solutions, financial advisor, remote expert, video banking, video collaboration, virtual expertise
“One of these days the ground will drop out from beneath your feet
One of these days your heart will stop and play its final beat
One of these days the clocks will stop and time won’t mean a thing”
“These Days”, Dave Grohl, Foo Fighters
As we kick-off 2016, the time is now for industry decision-makers to make a profound difference in the way Insurance business is transacted. Not just for competitive position, but for future generations, shareholders and most importantly, for the customer. Peer group competitors are formulating action plans now to address the most pressing tactical and strategic business imperatives across the enterprise for 2016 and beyond. Are you? Here are five top focus areas for 2016 that I am hearing from insurance executives across both Life and P&C:
- Digital Strategy
- Talent Acquisition and Retention
- Business Outcome Approach
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Tags: analytics, Big Data, Cisco, collaboration, customer experience, digital, digital strategy, financial advisor, Financial Services, insurance, omnichannel, security
I am a millennial and my entire financial life fits in my front pocket.
Whether I am setting up automatic credit card payments, paying a friend back for a dinner he paid for, making my monthly rent payment, or buying the latest Wall Street darling stock; it can all be accomplished with four or five taps on my smartphone.
Since the advent of the iPhone in 2007, the app economy has flourished, and now there seems to be an app for everything. This is particularly true for the financial services industry. There are apps for banking, investing, measuring net worth, tracking expenses, processing payments, and for things that probably neither you nor I have even thought of yet.
This trend has spilled over from the world of simple financial transactions to the complex financial world. Exemplifying this perfectly is the astounding success of Quicken Loans, which has grown to become the third largest United States mortgage lender (by volume) after adjusting its strategy in the late 90’s to become a direct digital lender. And as you may have guessed, they have an app for that. Read More »
Tags: banking, Cisco, customer experience, digital, Financial Services, Millennial, personalized service, remote expert