Admit it. You are feeling a little bit edgy these days. While you understand that fear is the elixir of investment opportunity, you also recognize that there is little glory for the last person standing on a sinking aircraft carrier.
Most in the media have been touting bull market accomplishments, job gains and economic progress. Writers regularly highlight the monster percentage gains that U.S. stocks have enjoyed since the lows hit in March of 2009 rather than discuss the reality that U.S. stocks have yet to recover inflation-adjusted highs set in March of 2000. Similarly, commentators typically celebrate monthly job growth of 200,000 without an acknowledgement that jobs paying an average of $62,000 per year have been replaced by those paying about $47,000 per year. It follows that inflation-adjusted wages have been stagnant since the recovery's inception. And economic progress itself? Analysts often dismiss the dismal (1st quarter contraction),
By Jennifer Lunde
Increasing reliance of financial service providers on technology brings forth greater potential for inaccurate data, inconsistent reporting, and system glitches that could pose risks for bank operations, strategy, and reputation. As such, changing technology platforms are quickly emerging as a primary challenge facing banks. More specifically, these technologies can include the emergence of mobile banking interfaces, evolution of technology-oriented marketing platforms (such as social media tools), and development of new technology platforms like cloud computing.
Chief among emerging technologies in the financial realm are mobile banking applications and online banking interfaces. These platforms provide opportunities for smaller, local banks to compete with larger financial institutions and maintain relationships with customers beyond the local vicinity. That being said, banks will need to place an increased focus on app development and maintenance, as banks will risk client loss if customers are frustrated with poor app performance.