Acquire or Hire? Taking UX to the Next Level in Financial Services

History has taught us that organizations are better equipped in the marketplace when they focus on their core competency. Banks have historically focused on providing checking and savings account products, credit and lending services, and everything else in between. Today, core banking products are getting more and more difficult to differentiate from bank to bank.  …

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FFIEC and NIST: A Comparison of Two Prevalent New Compliance Frameworks

The Federal Financial Institutions Examination Council’s (FFIEC) has recently stepped into its role as the leading voice in cybersecurity-related banking regulation, bringing examiners and technology experts from all member agencies together with the expectation that the banking industry will be a leader in cybersecurity maturity and readiness. In the five years since the passing of...

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Why financial institutions should leverage EMV migration to maximize their debit portfolio

While most debit card issuers are making progress on EMV migration, this is also a good time to be taking a deeper look at the performance of their debit portfolio. Conversion to EMV will require issuers to incur increased costs issuing new cards and communicating the specifics of the change. Therefore, banks should consider this event an opportunity to enhance cardholder engagement and drive...

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Using Knowledge Management in Your Contact Center

Contact centers traditionally hold a reputation for being an organization’s “catch all,” receiving customer contacts that range from inquiries to requests to complaints.  Contact centers receive not only all types of customer contacts but must also support all departments within an organization, from product, to marketing, to logistics to billing. The wide variety of contacts and the...

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Next Generation: Voice of the Customer

Firms have an unprecedented ability to listen to and understand changing customer needs. Advanced technologies turn unstructured social media posts or contact center transcripts into meaningful and actionable insights. Predictive analytics hone the noise of billions of interactions into signals that can help firms avoid scaling costly mistakes and tap into emerging opportunities.…

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Predicting the Future: What an Engineer from the 1900s Can Teach Us About Customer Experience Today

In the early 1900s, a gentleman by the name of John Elfreth Watkins Jr. penned an article for Ladies’ Home Journal, titled “What May Happen in the Next Hundred Years”.  As a civil engineer working for American railroads at the dawn of a new century, it was fitting that Watkins would take an interest in the technological advances that might shape America’s productivity landscape.…

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Cutting Through the Fog of B2B Marketing Enablement: Fragmentation + Fragmentation = Fragmentation

The digital disruption caused by the ubiquity of 24×7 Internet can often be a challenge for relationship managers focused on one-to-one, face-to-face interactions. The question is often, how can marketing automation techniques and technology enable B2B marketing when prospect groups are relatively few in number? The fact is that armed with mobile devices and go-anywhere connectivity, all...

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Fax? Isn’t that technology extinct?

For years, I have been hearing this from everyone around me. Business and IT organizations saw the predictions that faxing would die (almost instantly when email gained popularity) and most companies did not invest in a dying technology. Why would they? A few years ago, in the early 2000s, I worked for a corporate Fortune 50 IT organization that was not investing in the technology despite the...

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Is There Anything Gmail Can’t Do?

I keep my life on Gmail. It is the holder of my important calendar dates, storage of my most important photos, and the chat resource for YouTube cover songs needing immediate attention from my spread out friends. Gmail is entering into a new space now, too. As a banking consultant, I find myself conflicted about this transition of theirs.…

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Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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