Comments
Banks Can Save $1.5 Billion Through Adoption of Digital Channels, Study Says
Newest First  |  Oldest First  |  Threaded View
Byurcan
50%
50%
Byurcan,
User Rank: Author
7/15/2013 | 5:35:17 PM
re: Banks Can Save $1.5 Billion Through Adoption of Digital Channels, Study Says
Many do say that the prime value of a branch nowadays is as a billboard.
Greg MacSweeney
50%
50%
Greg MacSweeney,
User Rank: Author
7/15/2013 | 12:41:10 PM
re: Banks Can Save $1.5 Billion Through Adoption of Digital Channels, Study Says
Unfortunately, banking executives continue to receive mixed messages from customers. Customers rarely use the branch as banks continue to improve digital capabilities. However, customers select their bank based on having easy access to a local branch. So, the directive to a banker is: spend lots of money to build and maintain branches even though your customers will rarely visit them. In turn, as the number of overall transactions goes down in the branch, the cost per transaction creeps up.
vinod
50%
50%
vinod,
User Rank: Apprentice
7/15/2013 | 7:06:59 AM
re: Banks Can Save $1.5 Billion Through Adoption of Digital Channels, Study Says
I believe Gen Y customers not willing to visit the branch for their daily transactions. Its better to move from branches to digital channels, the best example is mobile banking.
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
7/10/2013 | 1:43:16 PM
re: Banks Can Save $1.5 Billion Through Adoption of Digital Channels, Study Says
They definitely are leaving out the upfront costs of implementing the new capabilities in the digital channels that will draw consumers away from the branch. I think that they were wise to choose mobile check deposit as an example because it is an technology that many banks have already adopted, and those that haven't have probably reconciled themselves to the fact that they will need to by now.
KBurger
50%
50%
KBurger,
User Rank: Author
7/10/2013 | 2:22:03 AM
re: Banks Can Save $1.5 Billion Through Adoption of Digital Channels, Study Says
I wonder how many organizations will miss the point and focus on the cost savings of scaling back branches without making the necessary investments in digital channels? It also would be interesting to get estimates from Javelin about the potential costs of those investments -- I'm guessing the $1.5 bln in savings number is a bit misleading because some of that savings will go into the new channels and related support services.


Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: Janice, I think I've got a message from the code father!
Current Issue
Security Operations and IT Operations: Finding the Path to Collaboration
A wide gulf has emerged between SOC and NOC teams that's keeping both of them from assuring the confidentiality, integrity, and availability of IT systems. Here's how experts think it should be bridged.
Flash Poll
New Best Practices for Secure App Development
New Best Practices for Secure App Development
The transition from DevOps to SecDevOps is combining with the move toward cloud computing to create new challenges - and new opportunities - for the information security team. Download this report, to learn about the new best practices for secure application development.
Slideshows
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2017-0290
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

CVE-2016-10369
Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

CVE-2016-8202
Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

CVE-2016-8209
Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

CVE-2017-0890
Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.

Dark Reading Radio
Archived Dark Reading Radio
In past years, security researchers have discovered ways to hack cars, medical devices, automated teller machines, and many other targets. Dark Reading Executive Editor Kelly Jackson Higgins hosts researcher Samy Kamkar and Levi Gundert, vice president of threat intelligence at Recorded Future, to discuss some of 2016's most unusual and creative hacks by white hats, and what these new vulnerabilities might mean for the coming year.