A new survey found 79% of consumers consider customer service as the most important aspect of their banking relationship, while 50% cited a financial institution’s technology offerings, and 80% said security what their top priority.
Merchant awareness is not keeping pace with mobile fraud growth, and the support for the mobile channel is not meeting predictions and expectations. In addition, concerns over the implementation around new payment methods such as Apple Pay have risen.
Atlanta-based ControlScan, a specialist in security and compliance solutions for small and mid-sized businesses (SMBs), has released its annual Mobile Payment Acceptance Survey helps ISOs, acquirers and other merchant service providers (MSPs) gauge mobile technology usage and requirements among the SMBs they serve.
Midwest Independent Bank (MIB) has implemented Aptys’ PayLOGIC unified platform to support all aspects of payment processing. PayLOGICS’ second-generation technology, which integrates seamlessly with MIB’s existing infrastructure, improves operational efficiencies for the bank and streamlines payment processes for its respondent customers. With PayLOGICS, MIB has one centralized view of all customer payment activity, and as a result can process returns and adjustments directly within the system in support of its payment product, MIE.net (Midwest Image Exchange Network).
United Bankers’ Bank (UBB) has implemented the Aptys PayLOGICS “Active Archive” and “Image Exchange” modules. With the ability to integrate seamlessly with the bank’s existing infrastructure, PayLOGICS enables UBB to house all transactions and historical data in one location. ACH and other transaction details are on a single cloud-based archive, the Active Archive module gives UBB a centralized view of all customer payment activity.
Small business owners have more confidence and see growth ahead in 2012, according to the latest Citibank small business survey. It also shows 26% plan to increase their permanent full-time employees during the next year – a 12 point increase from Jan 2011 while 71% plan to keep their workforce the same size. Meanwhile, 22% plan on bringing some seasonal workers on full-time while 44% plan to work more hours and four of 10 are planning to further increase employee productivity. Additionally, 48% are holding steady and “poised to grow when conditions are right” while one-third believe they will be growing rapidly or moderately in 2012.
The latest installment of the Motorola Solutions annual Holiday Shopping Survey highlights that three in four (75 percent) surveyed retail associates and managers feel they provide a better in-store customer experience when equipped with the latest mobile technologies. In fact, shoppers echoed a similar sentiment as more than two-thirds (67 percent) of surveyed shoppers reported heightened satisfaction with retailers where in-store associates utilized the latest technologies to assist in the shopping experience. The rising availability of shopping-assisted options across all shopping channels has raised customer service expectations for shoppers and retail associates. According to the survey, more than eight in ten (83.3 percent) surveyed retail associates and managers believe that shoppers can easily find a better deal so customer service is more important than ever. From a shopper perspective, 33 percent of shopping trips ended with shoppers leaving before satisfying their intent to purchase, costing an average of $125 per trip. Of those lost opportunities, more than 73 percent did not complete their purchases with the original retailer.
Aptys Solutions payments network provider for financial institutions nationwide announced that the automated clearing house (ACH) functionality within its “PayLOGICS” payment platform now allows customers the ability to manage and perform same-day settlement (SDS). With “PayLOGICS'” design, customers can take advantage of the service offered by the Federal Reserve through their SDS services and extend that benefit to respondent customers. The settlement functionality within PayLOGICS is customizable, designed out of the box to provide the built-in flexibility for operators to adapt to today’s changing payment landscape. The “PayLOGICS” solution lets adjust to the shifting demands of customers.
Bankers’ Bank has signed on with Aptys Solutions payments network provider to use the company’s image exchange and “Active Archive” modules within “PayLogics” common platform, supporting all aspects of payment processing. The platform supports image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. Bankers’ Bank is utilizing PayLOGICS’ image exchange and “Active Archive” components to leverage access to enterprise-wide payments data and analytics, which was selected based on its unified payments technology.
Bankers’ Bank has signed on with Aptys Solutions payments network for image exchange and Active Archive modules within “PayLOGICS” platform to support all aspects of payment processing. The “PayLOGICS” platform supports image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. Bankers’ Bank is implementing the “PayLOGICS” image exchange and Active Archive components to leverage access to enterprise-wide payments data and analytics. Aptys Solutions was selected for its unified payments technology that successfully bridges legacy and emerging payments, as well as its strong commitment to its customers. Aptys Solutions streamlines payment systems, allowing financial institutions to make informed decisions through the payment analytics module and eliminating the need for multiple vendors.
Apparently, 50% believe they will be “upper middle class” or “well off” in five to ten years, despite the fact only 16% of Americans currently describe themselves in those terms. Coincidentally, there is a deterioration in Americans’ outlook on the economy, local business conditions and their own financial situation, given 65% today see themselves as “just keeping even” rather than “upwardly” or “downwardly” mobile, as they struggle with rising gas, food and healthcare costs. This survey, conducted by Hart Research Associates for Citi, found Americans remain optimistic about their future economic prospects, despite a significant drop in their overall outlook on the economy since January. In fact, while 24% describe themselves as “upwardly mobile,” 47% believe they will be in a higher economic group within the next five to ten years than they are in now. Conversely, while 44% currently label themselves as “poor” or “working class,” compared to 16% upper middle class or well off and 39% middle class, only 32% believe it is very or somewhat likely they will be lower middle class, poor or below the poverty line in the next five to ten years.
The majority of California’s small business owners (54 percent) believe 2011 will be better than 2010, while 36% expect the same as last year and only 10% expect worse. With this, 34% of California’s small business owners say their business situation is better than a year ago, up from 28% in September and just 19% in March of last year. This, according to the latest Citibank small business survey, also shows those who rate their business situation as worse than a year ago declined to 32% from 35% in September and 45% in March. Regarding the most positive impact on their business, 28% cite reducing taxes; 21% was more credit availability; and 17% was lower healthcare costs.