Most ATMS still run on Windows XP, according to one industry estimate. With less than nine months until Microsoft stops supporting the OS, a credit union exec explains why upgrading is so painful for financial institutions.
By Mark Herman, Booz Allen Hamilton | July 23, 2013
Data lakes -- massive repositories of information that consolidate structured, unstructured, batched and streaming data into a single table -- could enable integration of different banks' living wills, providing transparency that would help identify hidden risks in the financial system.
Banks have decreased customer interaction in the branch over recent years but now need to turn to big data to learn more about their customers who are demanding more personalized products and services.
Prepaid products and mobile banking apps both aim to give customers ease-of-use with practical functionality, and combining the two can offer a number of ways for banks to deepen their customer relationships.