When I tell organizational leaders that they can cut the average call time in their customer engagement centers by 10 to 20 seconds, their eyes light up. I can see them doing the mental math, calculating their potential savings by multiplying those shaved seconds across all the calls that their customer service representatives handle every…

In May, the digital world was awash in privacy practice notifications that inundated users on websites and in email inboxes. This wave came as companies doing business in the European Union prepared for the implementation deadline of the General Data Protection Regulation. Talking heads fueled a media frenzy of speculation regarding when EU supervisory authorities…

Banks and other financial institutions collect a significant amount of data about their customers. Often, a customer will have checking and savings accounts with the same bank, as well as debit and credit cards and perhaps even a mortgage or a car loan. The customer may also use the bank’s website and mobile app. With…

How much do you really know about your customers? The answer goes a long way toward determining how much money your business makes — or loses. That’s why banks and other financial services firms are increasingly using artificial intelligence to get deeper insights into customer needs, wants, habits, risks and more. The lessons learned —…

Our nation’s financial system is fragile. The technology we depend on today for the secure exchange of funds between banks dates back decades to a system that was first built to facilitate funds transfers using Morse Code. Today’s incarnation of that system takes advantage of modern computing standards, such as TCP/IP networking, but that convenience…

During the day, I speak with banking executives who want to be as strategic and efficient as possible with their customer outreach. But when I go home, my mailbox, my email inbox and sometimes even my voicemail are filled to the brim with offers from financial institutions for products and services that don’t fit at…