You Can Bank On It
ADWEEK|February 26, 2018

FINTECH UPSTARTS DRIVE THE CUSTOMER EXPERIENCE. 

Lauren Johnson
You Can Bank On It

Change can be hard for the financial industry, which is dominated by decades of processes and internal systems. But with a slew of upstarts making their way into the trillion-dollar industry, the old guard is finding innovative ways to beat these challenger brands at their own game.

“A lot of these companies have what we call ‘technical debt’—very expensive mainframe systems that are very difficult to change, run [and are] expensive and obviously that limits their ability to innovate,” said Oliwia Berdak, principal analyst at Forrester Research. “The biggest challenge is often culture … In banks the attitude has always been to perfect [products] before it’s unleashed on customers and [technology] is a big change where you’re working with a certain degree of uncertainty and risk.”

Take, for example, TD Ameritrade’s new Twitter chatbot, which pulls up news articles, deposits money, finds a local branch and includes more than 160 short videos about investing. The tool was built by the brand’s 12-person emerging tech team that is focused on finding new platforms for TD Ameritrade’s offerings. In the past four months, the brokerage firm has rolled out chatbots for Facebook Messenger and Twitter and a voice-activated skill for Amazon’s Alexa. The turnaround time for Facebook Messenger was 60 days while the Twitter chatbot took 45 days.

This story is from the February 26, 2018 edition of ADWEEK.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the February 26, 2018 edition of ADWEEK.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM ADWEEKView All
News Anchor Of The Year Megyn Kelly
ADWEEK

News Anchor Of The Year Megyn Kelly

From Trump to ailes, the fox news personality fearlessly faces off with the powers that be—and ends up crushing the cable ratings race.

time-read
5 mins  |
November 28, 2016
The Big Bang
ADWEEK

The Big Bang

Global consultancies are rocking the agency world, creating a new universe of offerings that meld marketing and technology.

time-read
10 mins  |
March 13, 2017
DROGA5
ADWEEK

DROGA5

Using the fingers on just one hand, David Droga argues, you can count the number of agencies that possess a “strong soul.”

time-read
6 mins  |
December 05, 2016
Ogily
ADWEEK

Ogily

When it comes to leadership changes, 2016 will be remembered as a time of disruption.

time-read
6 mins  |
December 05, 2016
The Myth of White Space
ADWEEK

The Myth of White Space

'Brands have to stand out in an obvious crowd—not stand alone in an unusual spot that no one cares about.'

time-read
4 mins  |
December 12, 2016
Brand Phelps
ADWEEK

Brand Phelps

Can the greatest olympian in history be as dominant out of the pool as he was in it?

time-read
10+ mins  |
December 12, 2016
Masters Of Their Domain
ADWEEK

Masters Of Their Domain

WHY DIGITAL BRANDS ARE KILLING IT IN ECOMMERCE. BY LAUREN JOHNSON

time-read
3 mins  |
April 16, 2018
Winners' Playbook
ADWEEK

Winners' Playbook

BRANDS OFTEN FIND THAT WHEN THEY AIM TO DO GOOD, THEY ALSO END UP DOING WELL. HERE ARE FOUR RULES TO KEEP IN MIND. BY DAN TYNAN

time-read
2 mins  |
April 16, 2018
Flipping The Disruption Script
ADWEEK

Flipping The Disruption Script

THE FORTUNE 500 SHOULDN’T REST ON THEIR LAURELS OF HAVING A FIRST-TO- MARKET ADVANTAGE.

time-read
3 mins  |
December 4, 2017
MCCann
ADWEEK

MCCann

All things old were new again in 2017 as McCann dominated the U.S. agency landscape with a string of wins and created the most-discussed campaign of the year in Fearless Girl. 

time-read
7 mins  |
December 4, 2017