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December 28, 2017
An article about Helocs in American Banker the day after Christmas begins with the opinion that “Americans who use their homes as ATMs are about to get hit with a sizable withdrawal fee,” referring to the removal of home equity interest deductions from income tax computations. First, any person actually taking cash withdrawals from a home equity account to meet living expenses is most likely...
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Christine Pratt
September 25, 2017
Everyone admits defined contribution (DC) plans were never designed to be the default retirement vehicle. But here we are. For the masses—no, those lucky enough to have one—DC plans are the default. When will we act for an effective retirement system? Defined benefit plans are essentially gone. The Social Security system is questionable. Congressmen are talking about removing the DC-plan tax...
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Denise Valentine
September 22, 2017
On this year’s FinovateFall stage, over 70 firms gave a seven-minute demo, of which over 15 firms touted data security tools and some 14 firms boasted data science expertise within banking or capital markets settings. After the JPMorgan and Equifax hacks, it seems that no client data is impregnable and that future data breaches are limited by the appetite of hackers. Financial institutions’ hope...
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Javier Paz
September 20, 2017
Last week’s Finovate event in NYC offered up a great mix of innovation across many areas of financial services with an added bonus for 2017. For those who have had the opportunity to attend, the initial format has not changed from the last few years; however, the event was expanded to four days this year and included multiple presentations on the use of artificial intelligence (AI) in retail...
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Kevin Morrison
August 30, 2017
The Grand Canyon is an extraordinary place, but it is one of those wonders you have to witness in person. You can see pictures and videos of it or selfies of your friends standing on the rim, but you don’t get a full appreciation for its incredible beauty until you see it for yourself. For those of us who have been in the banking industry over the last several years, the omnichannel customer...
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Kevin Morrison
August 8, 2017
Money isn’t everything, but it certainly helps create choices in life. Yes, investing can be tricky with many options and fine print. Still, the biggest obstacle for the average person is not investing; it is the saving bit. Saving requires discipline and, in some cases, sacrifice. It means spending less than you earn, though you’re surrounded by lots of temptation. Most people don’t bother to...
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Denise Valentine
June 13, 2017
It’s been just a few days since I published my latest report on the digital person-to-person payments landscape in the U.S., and recent announcements in the industry have already made some of the information in the report a little …. well, passé, I guess. This signals the intense competition, continuous innovation, and perceived importance of digital P2P payments as part...
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May 31, 2017
Just a few brief years ago, financial institutions (FIs) weren’t really focused on the customer experience. With the exceptions of making sure ATM downtime was minimized, branches were staffed appropriately, contact center calls were answered within acceptable time frames, and the online banking system worked properly, bankers were just doing business as usual. The world has changed dramatically...
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May 1, 2017
At its Retail (R)Evolution event in April 2017, Pitney Bowes shared research revealing that 94% of global consumers made a domestic online purchase within the last year, nearly half made purchases monthly, and one-quarter made purchases weekly. Pitney Bowes also found that two-thirds of consumers have made a cross-border purchase in the last year. While digital commerce accounts for a relatively...
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April 24, 2017
On April 26th and 27th, Finovate returns to San Jose with FinovateSpring, the flagship two-day showcase of the latest and greatest fintech innovations from leading established companies and bleeding-edge startups. Once again, 61 companies will be demonstrating their newest solutions live on stage in just seven minutes. Networking sessions follow the demos each day, giving the attendees a...
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