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While new regulatory restrictions on overdraft charges may force large banks to abandon free checking, the product remains a competitive differentiator at community banks.
Facing reduced customer loyalty and new regulatory pressures, banks must abandon punitive fees and offer services customers will gladly pay for– such as expedited payments.
Restoring customer trust in banks requires combining old-fashioned values with innovative solutions.
The first half of this year is likely to provide banks with an opportunity to moderate deposit pricing – but watch out if inflation perks up!
Explaining changing regulations on overdraft fees to customers is hard – but necessary work – for bank frontline employees.
Online training, recently confined largely to operational and compliance issues, is now being used in a broader context within the bank.
Banks located in earthquake-prone zones stress the importance of a multi-pronged disaster recovery plan that is continually updated and communicated throughout the organization.
Amid uncertainties about the national economy, bankers are seeking to balance improved service with cost-effectiveness in their branch networks.
Dominic Venturo strives to deliver payments innovation on a consistent basis at U.S. Bancorp.
It’s a tough time for community banks to raise capital – and the regulators aren’t making it any easier.
Since many customers may lack power or Internet access in the wake of a disaster, offering access to funds is critical.
We have to put the customer back in control. If we continue to tell them that banking means business as usual, they will walk away from us.
The few banks that become the trendsetters and break from the pack will be able to profit in different ways to compensate for losing money through tra...
... emotional elasticity in deposits will prevail as long as the economy is perceived by the public as unstable and unpredictable.
Free checking is a win-win proposition for community banks, even with the new rules on overdraft.
E-learning is cost-efficient, convenient, has a consistency of message and is targeted to the audience.
… banks are drawing consumer ire less for the amount of money they make on OD/NSF fees than for customers’ lack of control over when those fees are as...
You don’t have to dramatically redo the branch to turn it into an effective sales location.
Absolutely, it’s tough to go out to market and raise capital, which is why we have a lot of bank failures nationwide.
When you look over the whole time horizon, iterative pilots and feedback can actually make your product development cost less.