This is a roundup of industry news and links for the week of June 17th that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
- Forrester finds financial companies top retailers in customer experience – Although banks are not known for exceptional customer service, a Forrester Research survey released this week shows they’re making progress.
- ‘The Future of Money’ Research: Emerging Markets are Money Savvy and Ready for Change – The adoption of cryptocurrencies in developing countries has been well documented and the anomaly is often flagged that people who have less appear to take greater financial risks.
- Truist Bank: Colossal Rebranding Misstep? Or Long-Term Winner? – The proposed new name for the BB&T and SunTrust combination is turning out to be more of a piñata than a trial balloon, at least on social media. The negative views over the aspirational name poured in quickly from consumers and others. Branding experts split more evenly. Adding to the drama: Truliant Federal Credit Union has sued the banks for trademark infringement.
- To Satisfy Gen Z, Banking Providers Must Make Payments ‘Seamless’ – Gen Z consumers, and Millennials too, expect the buying experience to be fast and efficient. Financial institutions and the merchants they support need to rethink their approach to the payment process so consumers are the first touchpoint in the value chain, not the last. Otherwise new options like Facebook’s Libra and other global initiatives will gain traction.
- Bank of America CEO says company wants a ‘cashless society’ – Bank of America Opens a New Window. CEO Brian Moynihan spoke this week about embracing digital payment transactions while moving toward a cashless society.