Preparing for the Storm: Adopting a CFPB Rule-Change Timeline

The Consumer Financial Protection Bureau (CFPB) is currently taking public comment on its proposed rule changes that would affect the Fair Debt Collection Practices Act (FDCPA). The comment period closes on August 19, which is right around the corner, but the new rules are not likely to take effect for another 18 to 24 months. … Read more

Are You Prepared to Deliver a Seamless, Omni-channel Customer Experience?

connected consumer

Don’t believe the people who claim bank branches and call centers are a thing of the past. There’s so much hype around digital banking and artificial intelligence (AI) that it’s easy to see why people sometimes get carried away predicting death to brick and mortar, but the research doesn’t support it. Today’s bank customers want … Read more

It’s Time for AI to Improve Customer Experience

Last year researcher Janelle Shane trained a neural network to generate and name new paint colors by inputting 7,700 examples from Sherwin Williams. It came up with some interesting names. I don’t think anybody will be painting their living room Stummy Beige, Stanky Bean, or Turdly anytime soon. That’s not what this blog is about, … Read more

Helping Our Most Vulnerable Customers

What is vulnerability exactly, and why does it matter to lenders? The Financial Conduct Authority (FCA), conduct regulator for more than 58,000 financial institutions in the UK, tabled the issue of consumer vulnerability in 2015. Since that time it has used its independent status and considerable power to make identifying and aiding vulnerable customers a … Read more

Leveraging a Strong Corporate Culture for Client Satisfaction

Strong corporate culture for client satisfaction

People might tell you that the most important thing you can do as an organization is to build a good product or to maximize shareholder value. These are obviously fundamental to a successful organization. However, in my experience, relationships are just as important—both within the company and with clients. If you build a healthy, positive … Read more

Amazon Banking on the Teenage Dream: Capturing Gen Z’s Loyalty—and Money

Gen Z girl on phone

If you’re fourteen years old, you’re probably rebelling against your parents, constantly on your iPhone, and Amazon Founder Jeff Bezos has his eye on you, or more accurately, on your money. In your short lifetime, Amazon’s revenue has increased by 2,500%, reaching $178 billion in 2017. Their next venture? Amazon banking: Developing a better banking … Read more

Customer Complaints—A Pain Point? Or an Opportunity for Improvement?

customer complaints frown

When your business receives a customer complaint, it is natural to feel defensive. However, keep in mind that most complaints will be genuine issues from disappointed customers. Their intent is an authentic gesture to let you know that your business has made a mistake. How you respond when you receive a complaint—especially in the landscape … Read more

How Banks Can Embrace the Growing Gig Economy—and Thrive in It

Gig economy workers

The term “gig economy” originated in early 2009 at the height of the financial crisis. It referred to people who were unemployed and making a living by “gigging,” or working several part-time jobs to make ends meet. Times have changed! Today when somebody refers to the gig economy, it’s in reference to the 25%-35% of … Read more

Katabat’s CXM Solutions Bolster Flexi’s Customer Service and Bottom Line

Flexi is a leading provider of diversified financial services in Australia and New Zealand specializing in innovative lending and leasing solutions. Their business is founded on exceptional service and support, and their use of strategic technology to improve customer experience helps them build on this foundation. In 2014, Flexi was faced with legacy infrastructure limiting … Read more