Along with executives from NCR Corporation and Jack Henry Associates, Dragnet Solutions President and CEO Greg Coté was featured in BAI Strategies article focused on the opportunities that 2016 holds for financial services solution providers.
Here’s an excerpt:
Cote: The fastest-growing customer segments for banks are Millennials, the unbanked and underbanked. Banks need a new toolset to break into these markets, and part of that toolset is mobile.
But there’s competition. Fintech start-ups are already delivering a host of mobile services directly to these same consumers. They’ve got apps for paying bills by taking a picture, apps for tracking free cash, even apps for splitting restaurant checks with friends. Banks need to bundle these mobile services or develop their own so they can compete in these markets and own the customer relationship.
Data analytics, when done properly, takes the risk out of interacting with customers on a mobile device. At the same time, data analytics streamlines account onboarding and other services that people are performing on smartphones and tablets, where keyboard typing is limited. Some account-opening services now allow consumers to take a picture of their ID to populate the application, so typing is kept to a minimum. Innovations like these will make it practical for more banks to finally offer mobile account opening.
