David Kerstein

Once upon a time, the old Chicago Stadium was known as the “Madhouse on Madison.

These past several years big banks have gotten bigger, re-allocated assets away from smaller, communities and invested in faster growing urban markets where they can achieve economies of scale in distribution and marketing.

Deposit generation has posed a major challenge for financial institutions over the past year.

Believe it: We’re already starting to think about 2020 budgets.

As customers continue to move towards digital channels, we see the ongoing, dramatic impact on monetary transactions, “paying and receiving” or teller transactions.

I recently attended two banking conferences and was struck by how much has changed—yet how much has not and needs to.

As banks consolidate further, financial institutions have a chance to cherry pick good branch sites cast off by competitive mergers.

I only met Herb Kelleher once but he gave me advice that I’ve never forgotten: worth its weight in frequent flyer perks and then some.

Not Supported What will 2019 bring?  We’re moving into the longest economic recovery on record and it looks like there’s plenty of room to run.

As the old saying goes, “It’s all about being local”—whether in politics or community banking.

The topic of the universal banker is hot and the need for them is clear: Branch traffic is declining, banks have shrunk staffing to the minimum and as a result, 50-60 percent of all branches are staffed at the minimum level just to keep the doors open.

Small businesses represent banks’ best opportunity to grow deposit balances, improve spreads and obtain overall superior relationship profitability.

The New York Times headline says it all: “What Stress? It’s Good to Be a Bank.

As retail bankers, we spend significant amounts of time, capital and energy focused on maximizing the performance of our distribution network—online, mobile, call centers and branches—so we can fulfill an important goal: to deliver an exceptional, seamless customer experience that builds stronger relationships and growth.

Technology is redefining financial services delivery, customer experience and money movement.

“Bank-at-Work,” or workplace banking, is not a new concept.

The recent Wall Street Journal article about the dominance of the three largest banks struck a visceral reaction among bankers.

I’m always excited every March when nearly 200,000 people crowd into Austin for South by Southwest, composed of annual interactive/digital, film and music conferences.

It’s clear the decline in branch transactions has big implications for branch staffing and organizational roles.

Predicting key trends in any industry—and financial services is no exception—means taking to account uncertainty, reality and possibility.

Compelling digital offerings aren’t just a consumer expectation anymore.

It’s that time of year again—time to put away the ball in Times Square and polish up our crystal ball for 2017.

Consumers are increasingly self-reliant and see time as a resource that is just as valuable as money.

It’s a simple fact: Millennials are your future customers.

Editor Note: David Kerstein has updated this article.

Perhaps the single most important threat facing the banking industry is the fundamental change in the way consumers and small businesses use branches.

Financial institutions of all sizes are facing challenges to their retail branch system.

Few topics in banking inspire as much commentary as branch-of-the-future concepts, since it’s now generally accepted in the industry that today’s branch model is fated to go the way of the typewriter after the word processor made its debut.

Well executed service quality programs can have a significant positive impact on revenue and bank earnings.

Big banks, small banks.

Providing superior customer service has been a key differentiating strategy for many financial institutions.

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It is accepted wisdom throughout the industry that small businesses represent banks’ best opportunity for higher spreads, improved fee income and superior relationship profitability.

“Bank at Work,” or workplace banking, is not a new concept but it’s one that may deserve a second look from growth-starved bankers since best-in-practice banks have embraced this strategy to drive as much as between 40% and 60% of all new consumer accounts.

“Without a growth strategy, you are dead in the water,” said Chuck Sulerzyski, CEO of Marietta, Ohio-based Peoples Bank.

Recently, several banks have begun addressing branch distribution costs.

The traditional branch sales model was based on cross-selling to customers who used the branch for transactions.