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Deposits & Payments
Deposit growth and strategies have always been a core focus of retail banks. Today's volatile economic climate - with consumers relying less on credit products and more on deposit account services - brings deposit growth and account management to the forefront. As technology and consumer needs evolve, so does the concept of payments. With innovations such as virtual wallets and other forms of digital currency comes new and unique challenges for the payments space. CBA monitors and addresses the issues facing retail banks in the management of the deposits and payments functions.
- October 3, 2014September 26, 2014September 17, 2014August 19, 2014August 5, 2014After years of hearing that the era of the “mobile wallet” has arrived, bankers have become weary of reports that are more hype than substance. While it’s true that an increasing number of consumers are using mobile devices to pay bills, each other and move money among their own accounts, mobile payments to merchants and retailers are still in the development stage due to market fragmentation,...July 16, 2014July 16, 2014July 14, 2014June 18, 2014With an unemployment rate of more than 13 percent and an average salary of $39,700 , financial institutions might be inclined to dismiss Gen Y, the demographic group also known as “Millennials.” They may be currently struggling, but Gen Y is still very optimistic about their financial future. Nearly 90% of those 18-34 believe they have enough money now or expect that they will in the future.You...June 17, 2014Increased regulatory oversight and consumer protection laws have put considerable pressure on banks and financial services organizations. For many, the burden of meeting new regulatory requirements translates into higher processing and operational costs. In fact, a 2013 survey from Deloitte Consulting found that 65 percent of financial institutions reported an increase in the cost of compliance,...