This is a roundup of industry news and links for the week of February 12th that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
Generation Z: The Future of Banking – Many financial institutions blew it with Millennials. They simply waited too long to go after them. Granted, teenagers aren’t typically a profitable segment, so they are easily dismissed. But Millennial adults are profitable now… and possibly banking with a competitor down the street. If there is any lesson here, it’s that retail financial institutions must start building relationships with consumers while they are still young, or they risk missing out on opportunities to help shape their financial perspectives while building brand preference. If the Millennial train passed you by, here’s your shot at redemption. Say hello to Gen Z.
CFPB releases five-year strategic plan – The Consumer Financial Protection Bureau released its five-year strategic plan this week, establishing its mission, strategic goals and strategic objectives. Working with the CFPB on a number of credit union priorities is on CUNA’s 2018 advocacy agenda.
Shaw Partners With CSG – CSG, a leading provider of digital and customer experience solutions, recently became an alliance partner of Shaw Systems Associates, Inc., a top loan servicing software company. CSG’s customer communication management solutions will be fully integrated into Shaw Systems software providing Shaw’s clients with a faster, easier way to communicate with their customers in the digital channels that customers prefer, such as e-mail, social media, web and SMS/text.
Financial Services Industry Implements Machine Learning Into Technology – The financial services industry is implementing machine learning into their technology. Several large institutions including BBVA, JPMorgan Chase, HSBC, OCBC, and more, have successfully implemented this kind of technology.
12 technologies that will disrupt business in 2018 – From artificial intelligence to augmented reality, these dozen disruptive technologies and trends will begin driving how business gets done at forward-thinking organizations this year.