No. 36

cbsi Exchange
Long before Al Gore invented the internet, Technology played an important role in building humanity. The cotton gin. The light bulb. The wheel. All examples of simple industrial items that transformed interactions with people and commerce.
Without debate, Computers are as compelling an invention as any created before it or since. Exploring our solar system, using ultrasounds for studying our internal organs and communicating across the world as quickly as our thumbs can move are all because of the Computer.
The Financial and Banking Industries clearly have benefited from the advances of Silicon Valley. Just think how easily people can move money from one account to another. Or how easily transactions occur with the close connection of a mobile phone to an electronic reader.
Technology has also led to some worrisome moments as well. Identity theft is on the rise and the CFPB is working diligently to understand the critical role the Technology plays toward ensuring consumer confidence, trust and safety, particularly with regard to online and mobile banking.
In this eNewsletter issue we focus on Technology, specifically, how it affects the Banking Industry. We will examine some future expectations and discuss products and services that use Technology to not only transform people and commerce but disrupt the common way of thinking about Banking.



Nearly two-thirds of Americans are now smartphone owners, and for many these devices are a key entry point to the online world, states a study from the PEW Research Center.

It's no surprise that these simple, mini-computers are an enormous part of everyday life. From simple communications to mobile shopping and payments, most people can not imagine life without these devices. In fact, from a study by Smart Insights
, mobile digital media time in the US is now significantly higher at 51% compared to desktop (42%).

With so many people committed to using and interacting with their mobile phones, the need to protect those devices would seem critical. And by offering your customers Cell Phone Protection, you're not only protecting their phones, but protecting their way of interacting with you.
Cell Phone Protection provides cardholders supplemental reimbursement for damage or theft of an eligible cell phone. Eligible cardholders must charge their monthly cell phone bill to their covered Visa card. In addition to cell phones, certain types of personal digital assistants (PDA) that are also cell phones are eligible when terms and conditions of the benefit are met.

To learn more about the ways in which cbsi can help you with Cell Phone Protection and help you reach your business goals,
contact us at .
Ken Kraetzer, cbsi Vice President, often conducts interviews with several leading business executives, entrepreneurs and industry thought-leaders. This month, he had the opportunity to speak with retail marketing strategist, Ryan Craver, recently named President and CEO of apparel marketer  Ryan is a graduate of Arizona State University and is a frequent speaker at national trade shows presenting on the use of technology in retail. 
Below is a sample from his complete interview.
Q. October 1st Chip Card Requirements
A. Retailers are scrambling. I think it is necessary. I also think it is not the end-all, be-all. What comes with this change, with "Chip and Pin", is you are also going to see other technology being built into the point of sale equipment that is being rolled out, like mobile wallet, NFC, more Apple Pay, more Google Wallet, more Paypal.   The payment space is so thrilling right now.  You have PayPal splitting off by itself, you have Apple Pay launching in the UK, you have Stripe going through another $5 billion valuation. Hopefully this leads to a more secure way to transact money and do it with a lot less friction.

To read the entire interview and watch the video, click HERE.

Contact for more information.
CFPB and Technology
Did you know that the CFPB has a Technology section within its website? This area of the site is dedicated toward helping consumers to not only understand how the CFPB is working with Technology to support Consumer and Financial Institutions, but to also understand what Technology tools and resources are available.
CFPB Monthly Report
The CFPB's Office of Consumer Response hears directly from consumers about the challenges they face in the marketplace, brings their concerns to the attention of companies, and assists in addressing their complaints. As such, the CFPB provides its Monthly Complaint Report - a high-level snapshot of trends in consumer complaints.
You can read a macro-summary of CFPB information and the cbsi card services CFPB Quarterly Summary from cbsi all in one place. Click HERE
To visit the CFPB website, click HERE. 
How does Technology affect your business operations? Is mobile a part of your Customer Experience marketing strategy? Do you believe you and your company utilizes Technology to its advantage?
This month, we would like to understand how Technology affects your business.
Please take 5 minutes to complete our brief survey regarding Banking Technology. CLICK HERE

For the July Survey"Holiday Shopping Preparation" results, click