Hillary Kelbick
Oct 15, 2020

To stand out from the crowd, banks and credit unions must create effective messaging on the institution they are and the institution they want to become.

Social media has emerged as a channel that offers banks a unique and, quite possibly, unmatched opportunity to engage with customers on a whole new level.

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With external growth prospects clouded by regulatory fee restrictions and a sluggish economy, bankers are focused on increasing revenue from existing customers.

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When Singapore-based OCBC Bank decided it needed to more aggressively pursue the large and growing young adult market in that country, it took what it would call a very “frank” approach to reaching this audience.

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With its recent announcement of 30,000 job cuts, Bank of America Corp.

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As banks struggle in today’s environment of reduced fee income and weak loan demand, financial institutions need to figure out a way to sell more products to their existing customers.

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One result of the recent and continuing rash of government regulations is a renewed desire on the part of banks and credit unions to drive new sources of revenue and profitability.

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What’s on the minds of top bank marketing executives these days? Get ready for a long list, according to Nick Papachristou, executive vice president and director of corporate marketing for Green Bay, Wisc.

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Cross-sale? What cross-sell? Most banks offer on average over 100 products and services but 56% of customers only have one product, according to our company’s research.

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As the banking industry’s ability to generate fee income comes under pressure from recent regulatory actions, financial institutions will inevitably need to place more focus on front-line sales effectiveness, particularly in the branches.

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