The recent local government imposition of a cash transaction limit creates a great opportunity for financial institutions to not only increase discussions with consumers about alternative payment options but to also for each institution to start thinking about its state of readiness for the next technology wave and a new generation of cosnumers.
Many institutions are focused on launching bigger and better mobile banking apps but the fact is that mobile is already here and soon to be a thing of the past. Is your institution poised to take advantage of the next great thing? To leverage current and future technology to create new products with better margins that better satisfy customer needs? Better yet, with the vast amount of data you have gathered over the years can you move from just reacting to new technology and and changes in customer tastes, to predicting them. The Future is All About Data is an insightful article written by Chris Skinner which talks about how financial institutions should be able to use their data for predictive and proactive marketing and the increasing importance of data security. You may also purchase his book, "Digital Bank" on Amazon.com.
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