Summer of Technology Survey
As banks experienced an unanticipated shift towards expectations for fully digital operations, coupled with restrictions on normal customer interactions, UFS discovered some customers gained efficiency by refocusing their operations. In addition, as a result of the pandemic, we’ve seen the regulatory environment evolve, and an increase in cybercrime focused on exploiting the recent expansion in digital engagement.
UFS is committed to empowering you, your employees, and your customers with the information and tools you need for success. Over the next several months, we are focusing on enhancing the depth and breadth around processes that will empower you to execute on your unique strategies. As we prepare for what we expect to be the Summer of Technology in community banking, please take a few minutes to help us understand your perceived level of digital effectiveness in each of the following digital capabilities. We will use the information you provide to help us prioritize our investments, resource allocation, and training emphasis. In addition, we will share insights from the community, and how your institution compares with your peer’s priorities.
In this survey, we will be measuring capabilities, confidence and strategy around 7 key dimensions outlined below:
- Digital Account Origination: Online, automated and secure account opening and new customer onboarding, inclusive of deposit and loan origins.
- Customer Digital Engagement: Engagement with existing, new and prospective customers using digital methods.
- Workforce Efficiency: Your staff’s ability to work efficiently, securely and have the right technology to meet flexible work environments such as work from home.
- Fraud Prevention: Tools and processes to reduce or eliminate digital fraud and account takeover attacks.
- Digital Payments: Tools and processes that allow for the virtual transfer of money safely and securely both within your bank and across the customer’s multiple institutions.
- Business Lending & Cash Management: Value added services you can provide small and medium-sized business customers that increase non-interest income.
- Cybersecurity: Tools and processes to counteract new and sophisticated cybersecurity threats such more advanced malware, phishing and remote exploitation techniques.