Banking

We attended BankWorld, the Connecticut Bankers Association bank show at the Mohegan Sun Casino. When we weren’t taking your questions & answers at the booth (come find us at other conferences this year), we attended some great sessions on trends in the financial realm today. One of the most resounding sessions was presented by Bruce […]

While 2019 is forecasted to usher in an acceleration of digital transformations and added online services for retail mortgage lenders, the in-person visit is still the preferred transaction method for nearly half of banking customers when making major financial decisions. And when it comes to community banks and credit unions, industry leaders stress the need […]

There comes a point in time when every bank or credit union searches for a solution to serve as a central repository for information. Often times this begins with a search for knowledge bases. As important an endeavor as this is, we’ve put together this blog post to help you mitigate your search, and a […]

Alternatives to Passageways OnSemble and Microsoft SharePoint Finding the right employee intranet can be an immense endeavor for a bank or credit union. Microsoft’s SharePoint and Passageways OnSemble are often the first to make the list, but may not be the ideal fit for all banks and credit unions. In this blog post we’ll guide […]

With just days left to go in 2018, we thought it was the right time to take a look back at the blog posts and topics our readers loved most this year. In case you missed them, here’s a quick Top 10 list. Enjoy, and we look forward to bringing you more engaging content in […]

Even as the lines between physical and digital channels continue to blur, many banks and credit unions are struggling to prioritize the people and financial resources needed to reach their goals and deliver a truly omnichannel and personalized in-branch experience. A new report from WBR Insights’ Future Branches division, Enabling In-Branch Associates Through Phygital Initiatives, […]

Today’s Millennial consumers expect a modern experience when choosing a financial services provider. Whether it’s a bank, credit union, or wealth management advisor, Millennials want to engage when, where and how they want, across multiple channels. Web, mobile, app, or phone — all represent viable Millennial engagement options that financial services sellers must tailor to […]

The change? A shift in focus, from buying products to building relationships. The way people buy has changed. Today’s consumers want customization, not generalization. The challenge? Matching the convenience of the on-demand economy, where consumers have instant access to infinite options, while providing the personalized connections and experience that brick and mortar locations offer. The solution? […]

Yesterday Engageware released data from our survey on the state of the B2C buying experience, and respondents made it overwhelmingly clear that B2B brands should consider appointment scheduling to deliver the personalized buying experiences preferred by today’s consumers. The Engageware-sponsored survey, “What Buyers Want: The State of the B2C Buyer Experience,” complements our recent data […]

Rising interest rates and digital alternatives to traditional banking have American banks facing unprecedented competition for market share. One Accenture study estimated that digital alternatives could capture up to one-third of traditional banking revenue by 2020! Executives at the nation’s leading banks understand that delivering an excellent customer experience provides a significant edge when it […]

It’s no longer necessary to visit a branch for many banking services, yet in-person banking isn’t going away. Instead, it’s becoming more important and more specialized and, as a result, the customer service experience a branch provides is increasingly vital to a bank’s success. This reality is supported by Engageware’s own recent study about the […]

Credit unions continue to win over consumers by positioning themselves as community-oriented institutions that provide a wide range of financial services. This success stems from credit unions’ early recognition of today’s on-demand consumers’ heightened expectations and their insistence on a better customer engagement paradigm. Through personalized services and a member-owned financial model, credit unions create […]

Each year, Engageware conducts a survey of credit union members to take their pulse on issues related to the quality of service they receive when they visit a branch. The findings consistently show that credit union members still like to conduct their financial transactions at the branch, even with the increasing availability of online banking […]

If you are a bank or credit union operating in today’s market, providing an excellent digital experience for your customers and members is likely a top priority. For this blog, we set out to find some of the most innovative credit union and banking software on the market today and noticed a recurring theme: Most […]

In our annual State of Banking survey, Engageware asked consumers a number of questions about the quality of service they receive from their bank. Although it’s easier than ever to bank online—including from phones—respondents told us they still do a lot of their banking business at branches. These face-to-face opportunities provide banks with a tremendous […]

Making a core banking software switch is no small task. But for many banks and credit unions, the time has come to do so, or at least consider the possibility. As American Banker explained, “Some banks still use core software purchased 30 or more years ago, and have layered on top of it ‘ancillary’ products […]

A large majority of banks and credit unions use SharePoint as their intranet platform of choice, counting on SharePoint to be an effective content and document management system. While SharePoint has its advantages, it also has a number of disadvantages. One of the more common complaints from employees is that finding what they are looking […]

In our third-annual State of Retail survey, Engageware asked consumers what they like—and don’t like—about shopping in stores. As in prior surveys, the popularity of in-store shopping remains strong, with 84 percent of respondents indicating they would do as much, if not more, of their total non-grocery shopping in stores this year. The main reason for […]

Getting the attention of consumers and, more importantly, keeping them engaged is challenging. Unfortunately, consumers have grown accustomed to not being engaged because poor experiences when interacting with brands are typically the norm, whether it’s inconsistent information across channels, the wrong offer at the wrong time, or lack of product availability. While this represents a […]

The Financial Brand published an interesting article this week titled “5 Major Emerging Trends in Retail Banking.” All of the points—from how consumers share data with their banks to which channels people use for online banking—were interesting. But the one that stood out to me was #4: “People Still Want That Personal Touch.” Since you’re […]

Customer loyalty programs and memberships have been around for decades. Consumers love the idea of saving money, receiving exclusive offers, and getting priority service from their favorite retailers, banks and service providers. But are these programs causing businesses to actually miss out on key opportunities that truly build customer loyalty? There is a misalignment between […]

On October 5, BAI will launch its all-new BAI Beacon conference, and the Engageware team will be there in Chicago to share how we help leaders in the financial services industry create conversations that drive their business. Events such as BAI Beacon are a great opportunity for attendees to discuss best practices with colleagues and […]

A recent article in the Credit Union Journal titled “Strategic Planning: In Search of the Fountain of Youth” reports that a host of credit union leaders have an increased sense of urgency to reach millennials—before it is too late. For example, Michael Wishnow, SVP of communications and marketing for the Pennsylvania CU League said: “It’s […]

Bank executives are aware that customers want personalized service that meets their needs. But even armed with that knowledge, banks still fall short when it comes to the level of personalization they provide. Engageware recently conducted its annual survey of 100 C-level banking executives and asked in-depth questions regarding plans for enhancing customer experience at […]

A recent Banking Exchange article on BankingExchange.com discusses the notion of a “simulchannel” experience in banking. In short, author John Ginovsky describes simulchannel as customers wanting their banks to know them digitally as well as in person. An example would be customers receiving a “welcome” text when they enter the branch. While the author claims this […]

Credit unions are well known for putting their members first. It’s what differentiates them from larger financial institutions. Leaders in the space know that keeping their customer at the center of their business is key for retention and loyalty. For Rivermark, an Oregon-based credit union, embarking on a mission to transform their branches was a […]

When the team at Arizona Federal Credit Union wanted to deliver personalized member services and improve in-branch efficiency, they chose Engageware. The Phoenix-based credit union has more than 125,000 members and $1.3 billion in assets. Arizona Federal operates more than a dozen ServUs Center locations throughout the metropolitan Phoenix area. Like any retail financial institution, […]

It’s been a busy year so far for the Engageware team, and as April comes to a close it’s time for us to hit the road once again. We’re heading to Bloomington, MN next week for Barlow Research’s Business Banking Conference, May 2nd and 3rd, 2016. The show agenda is packed with two days of […]

Though today’s hot conversations revolve around the “digitization of everything,” what Engageware’s latest research reveals is that consumers are actually looking more and more to in-person interaction. Engageware recently surveyed 2,064 consumers about their banking experiences, perceptions and behaviors. Nearly half (43%) of respondents indicated that they visit their branch 10 times per year or […]

Engageware recently conducted a survey of 1,052 consumers, asking in-depth questions regarding their perceptions and behaviors around customer experience and banking. Engageware also surveyed 100 senior-level bank executives about their plans around customer experience, products and services, and branch transformation. The following are some highlights from both surveys: Banks still have opportunities to provide a […]