ABA Banking Journal - September/October 2017 - 24

SPECIAL REPORT > TECHNOLOGY AND INNOVATION

3

Banks are beginning to offer more
value-added services to customers
that give them more information
about those users.

As a result, banks are building new technologies that
provide stronger levels of authentication and give them
more control. One example of this is in call centers, which
use vocal patterns for identification. A number of firms
have developed technology that uses the forward-facing
camera on a phone to authenticate with a selfie photo or an
iris scan. A British bank has even rolled out a system that
scans the veins in your fingers to authenticate users on large
corporate accounts.
As these technologies develop, they will become even more
seamless. There are companies working on "behavioral
biometric" technologies that can authenticate users based
on how they interact with bank websites or apps. It turns out

that the way you hold your smartphone and how you swipe
up or down may be as unique as your fingerprint.
Traditionally, a tradeoff existed between security and
usability. In order to better secure a customer's account,
additional roadblocks and secondary levels of security were
needed. Biometric technology gives banks the ability to
put better security measures in place that can also make
customers' lives easier.

3.

CUSTOMER DATA
(1-3 YEARS)

In a digital era, data is one of the most valuable resources
for a company. Companies like Google and Amazon are
built on the customer insights gained through use of the
platform. Banks house a tremendous amount of customer
data that has the potential to drive real value for customers,
by allowing banks to better understand their needs.
Today, customer data at banks is often unstructured-
housed in systems that are inconsistent and may not talk to
each other. A single customer may have multiple accounts

ABA Fintech > A Commitment to Innovation
The rapid convergence of banking
and technology is a critical issue for
the future of the banking industry.
ABA has been out front to help banks
navigate these changes, and we've
recently expanded our commitment
to members in this area. Last year
I convened a high-level staff task
force-made up of our fintech
experts and future industry
leaders-to bring together our work
on these critical topics and make

24

recommendations that can benefit
the entire industry.
Since then we have rolled out a
number of resources to help banks
understand this change, adopt
new technologies, and partner with
innovative companies. For example,
ABA's Fintech Playbook was designed
to help your bank develop a strategic
plan for adopting new technologies.
ABA's Endorsed Solutions group

ABA BANKING JOURNAL | SEPTEMBER/OCTOBER 2017

evaluates partnership opportunities
and vendor applicability and
endorses innovative solutions offered
by exciting fintech companies.
We have also introduced our
Understanding Fintech series, a set
of in-depth reports exploring new
technologies such as blockchain,
digital lending and open banking and
APIs. These reports, which will be
accompanied by a live demonstration

of these technologies at ABA's Annual
Convention in Chicago this fall, are
part of our latest effort to help banks
build their fintech strategy. All of
these resources are available today
at aba.com/fintech.
ROB NICHOLS,
ABA President
and CEO


http://www.aba.com/fintech

Table of Contents for the Digital Edition of ABA Banking Journal - September/October 2017

CHAIRMAN’S VIEW
UPFRONT
PICTURE THIS
LEGAL BRIEFS
POWER UP PROFILE
THE TOP FINTECH TRENDS DRIVING THE NEXT DECADE
PLUG AND PLAY: FOUR WAYS TO LEVEL UP YOUR MOBILE BANKING APP
MAKING FRIENDS WITH FINTECH
LOOKING AT FINTECH THROUGH THE LEGISLATIVE LENS
LET’S TALK PAYMENTS
IS OUTSOURCING IT SECURITY RIGHT FOR YOUR BANK?
THE CECL RIPPLE EFFECT
FROM YOUNG AMERICANS TO ENTREPRENEURIAL CITIZENS
FINDING THE PERFECT NICHE
THREE ELEMENTS OF BANK LEADERSHIP
REAL ESTATE LENDING
ABA COMPLIANCE CENTER INBOX
WEALTH MANAGEMENT
FROM THE STATES
CORPORATE SOCIAL RESPONSIBILITY
INDEX OF ADVERTISERS
FROM THE VAULT
ABA Banking Journal - September/October 2017 - Intro
ABA Banking Journal - September/October 2017 - bellyband1
ABA Banking Journal - September/October 2017 - bellyband2
ABA Banking Journal - September/October 2017 - cover1
ABA Banking Journal - September/October 2017 - cover2
ABA Banking Journal - September/October 2017 - 3
ABA Banking Journal - September/October 2017 - 4
ABA Banking Journal - September/October 2017 - 5
ABA Banking Journal - September/October 2017 - 6
ABA Banking Journal - September/October 2017 - 7
ABA Banking Journal - September/October 2017 - CHAIRMAN’S VIEW
ABA Banking Journal - September/October 2017 - 9
ABA Banking Journal - September/October 2017 - 10
ABA Banking Journal - September/October 2017 - UPFRONT
ABA Banking Journal - September/October 2017 - 12
ABA Banking Journal - September/October 2017 - 13
ABA Banking Journal - September/October 2017 - 14
ABA Banking Journal - September/October 2017 - 15
ABA Banking Journal - September/October 2017 - PICTURE THIS
ABA Banking Journal - September/October 2017 - 17
ABA Banking Journal - September/October 2017 - LEGAL BRIEFS
ABA Banking Journal - September/October 2017 - 19
ABA Banking Journal - September/October 2017 - POWER UP PROFILE
ABA Banking Journal - September/October 2017 - 21
ABA Banking Journal - September/October 2017 - THE TOP FINTECH TRENDS DRIVING THE NEXT DECADE
ABA Banking Journal - September/October 2017 - 23
ABA Banking Journal - September/October 2017 - 24
ABA Banking Journal - September/October 2017 - 25
ABA Banking Journal - September/October 2017 - 26
ABA Banking Journal - September/October 2017 - 27
ABA Banking Journal - September/October 2017 - PLUG AND PLAY: FOUR WAYS TO LEVEL UP YOUR MOBILE BANKING APP
ABA Banking Journal - September/October 2017 - 29
ABA Banking Journal - September/October 2017 - 30
ABA Banking Journal - September/October 2017 - 31
ABA Banking Journal - September/October 2017 - MAKING FRIENDS WITH FINTECH
ABA Banking Journal - September/October 2017 - 33
ABA Banking Journal - September/October 2017 - LOOKING AT FINTECH THROUGH THE LEGISLATIVE LENS
ABA Banking Journal - September/October 2017 - 35
ABA Banking Journal - September/October 2017 - LET’S TALK PAYMENTS
ABA Banking Journal - September/October 2017 - 37
ABA Banking Journal - September/October 2017 - 38
ABA Banking Journal - September/October 2017 - IS OUTSOURCING IT SECURITY RIGHT FOR YOUR BANK?
ABA Banking Journal - September/October 2017 - THE CECL RIPPLE EFFECT
ABA Banking Journal - September/October 2017 - 41
ABA Banking Journal - September/October 2017 - 42
ABA Banking Journal - September/October 2017 - FROM YOUNG AMERICANS TO ENTREPRENEURIAL CITIZENS
ABA Banking Journal - September/October 2017 - 44
ABA Banking Journal - September/October 2017 - 45
ABA Banking Journal - September/October 2017 - 46
ABA Banking Journal - September/October 2017 - FINDING THE PERFECT NICHE
ABA Banking Journal - September/October 2017 - 48
ABA Banking Journal - September/October 2017 - 49
ABA Banking Journal - September/October 2017 - 50
ABA Banking Journal - September/October 2017 - THREE ELEMENTS OF BANK LEADERSHIP
ABA Banking Journal - September/October 2017 - 52
ABA Banking Journal - September/October 2017 - 53
ABA Banking Journal - September/October 2017 - REAL ESTATE LENDING
ABA Banking Journal - September/October 2017 - 55
ABA Banking Journal - September/October 2017 - 56
ABA Banking Journal - September/October 2017 - 57
ABA Banking Journal - September/October 2017 - 58
ABA Banking Journal - September/October 2017 - 59
ABA Banking Journal - September/October 2017 - ABA COMPLIANCE CENTER INBOX
ABA Banking Journal - September/October 2017 - 61
ABA Banking Journal - September/October 2017 - WEALTH MANAGEMENT
ABA Banking Journal - September/October 2017 - FROM THE STATES
ABA Banking Journal - September/October 2017 - CORPORATE SOCIAL RESPONSIBILITY
ABA Banking Journal - September/October 2017 - INDEX OF ADVERTISERS
ABA Banking Journal - September/October 2017 - FROM THE VAULT
ABA Banking Journal - September/October 2017 - cover3
ABA Banking Journal - September/October 2017 - cover4
ABA Banking Journal - September/October 2017 - outsert1
ABA Banking Journal - September/October 2017 - outsert2
ABA Banking Journal - September/October 2017 - outsert3
ABA Banking Journal - September/October 2017 - outsert4
ABA Banking Journal - September/October 2017 - outsert5
ABA Banking Journal - September/October 2017 - outsert6
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