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Bank marketing managers can play a large role in helping a company make its ‘islands of profitability’ even more profitable, says MIT lecturer and consultant Jonathan Byrnes.
As the worst of the financial crisis recedes, more banks are looking at replacing their antiquated core back office operating systems. Click to view Special Edition.
The importance of key vendor relationships requires that banks monitor their vendor’s business activities and environment as closely as their own.
To get the most out of their social media efforts, banks need to interact honestly with customers and provide them with real value.
The efforts by banks to focus their loan generation activities on high-value customer segments will require top-quality implementation by well-trained frontline employees.
Facing populist anger in the courtroom, banks and their attorneys need to show humility and bring the fairness argument into play on their side.
While branches are unlikely to disappear, they will surely be different in the future and investing in that future should begin now.
Anti-money laundering officers have been adept at improvising under a torrent of new regulations but the time is coming when enterprise-wide systems are required.
Having abandoned small business banking in recent years, many institutions are returning to the segment, prompted by both market opportunity and regulatory prodding.
With the ever-increasing complexity of payments fraud, banks need a hybrid approach to fraud detection that effectively coordinates and leverages all available technologies.
With the coming launch of his Movenbank venture, Brett King intends to prove that banks can replace branches with all-digital service delivery.
While nonbanks still have the edge in marketing wealth management services, banks are able to make headway in the lower tier of affluent customers.
A new study from BAI Research finds that customer segmentation strategies are the key to improving share of wallet among existing customers.
Pennsylvania’s Fulton Financial promotes employee retention as an aid to customer service.
Vendors now ‘own’ many of the operational risks previously managed internally by virtue of the services they provide.
… a rural branch where you already have strong market share may not benefit from weekend or weeknight hours.
… 48% of customers find their bank’s social media sites to be somewhat useful while only 19% find them to be highly useful.
Online advances and mobile technology that thrill consumers have made infiltration easier for the bad guys.
With 60% of small businesses not requiring loans, banks that are not fully confident about their risk capabilities can emphasize a deposit, fee-based ...
… implementation and execution will separate the winners from the losers in this new segment-driven banking era.
The linkages between multiple customers and accounts can potentially be a piece of a broader organized fraud ring bust-out scheme.
… compliance costs will far exceed the CFPB estimate of nearly 7.7 million employee hours of work.
No one likes people who don’t keep their promises. The banking industry is based upon enforceable exchanges of promises ...
… the fee decline occurred despite an increase in the total amount deposited in banks.
… when asked, customers will tell you what they need and want. When you respond, you earn their loyalty and more of their business.
… the truth today is that very few banks actively identify, develop and nurture the talent inside their own walls.
If an organization promotes employee exceptionalism and wins employee loyalty first, client loyalty will follow.
… over 70% of these community banks anticipate that compliance costs will grow $50,000 per year, at least ... annual increases of between 14% and 25%!
... Apple has nothing to do with computing. Apple is an entertainment-enabling company.
In every stage of a customer’s lifecycle, the loan workout people know what can go right, what can go wrong – and how to fix it.