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My presentation for Sheshunoff on the Competitive Advantage of Air Banking. Description: Will your financial institution be prepared when bricks give way to clicks?We've all seen the commercials about businesses moving to the cloud, but financial institutions have another storm to weather. As traditional banking evolves, what affect will new technology have on the relationships we have with our customers?Customers banking expectations are definitely shifting and this discussion will include what some businesses and banks are doing to cater to a banking experience in the clouds. The conference agenda includes:· Defining banking in the clouds· Analyzing this shift as revolutionary or evolutionary for our institutions· Preparing for conversation changes with your customers· Optimizing the use of social media· Evaluating current branch effectiveness· Incorporating the latest technological solutions
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Competitive Advantagesof Air Banking
About Us
• Enterprise Grade
• Vendor Management
• Consumer Compliance
• Gramm-Leach-Bliley Act
• Business Continuity
• FFIEC (IT Handbooks)
Enterprise Compliance Management
Presenter
Brad GarlandCEO, RiskKey.com
4• Evolutionary or Revolutionary?
• Changing the conversation
• Technology & Compliance
• Banking Game Changers
Evolutionary or Revolutionary?
“The Cloud”
Cultural
Technological
Technological Shift
Locations - 70s Machines - 80s/90s
Documents - 90s/00sPeople - Today
Newspapers TVRadio Blogs/PodcastsGoogle
FacebookTwitter
DVR/TivoXbox/Wii
4th century 1896 1920s Last 15 years!
Fast forward Innovation
Cultural Shift
News
Information
Mass Media
Advertising
Data
News
Information
Mass Media
Advertising
Data
Blogs
Wiki’s
Video/Podcasts
Personal Reviews
Niche Content
Technology is easier & cheaper
‘Cloud’ adoptionincreases
Changing the conversation
Translate it to banking please?!
Banking in the Clouds
• Anywhere/Anytime
• Improved Reliability
• Still Secure
• Big or small? Don’t care.
Checking volumes on the decline
• Outsourced Cores
• Branch Capture
• Virtualization
• VoIP Phones
• Mobile Access
You’re doing it, too!
Technology&
Compliance
• Executive Buy-in
• Risk Assessment
• Develop Policies
• Train & Monitor
A Plan for Success
• Don’t overcomplicate • Plan for adjustments as you go
• Train, train, and retrain!
BankingGame Changers
New Accounts
MerchantProcessing
Savings Accounts
Mobile Banking
PersonalFinance
Managers
PFMsfor
Business
P2P Lending
Investments
Recap
• Banking is changing
• Decentralized, Real-time
• Social Media has its pro’s and con’s
• Research latest technologies (Finovate or Techcrunch)
• Prepare for the moving target
