Terry Badger
Jun 28, 2022

On the BAI Banking Strategies podcast, David Foss, CEO at Jack Henry & Associates, joins us to discuss open banking and the scale-defying opportunities it can provide for regional and community institutions.

The digitization of retail banking has changed consumer expectations in terms of their relationships with their bank and preferred channels for conducting banking transactions.

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Stretching back to the 1980s, a key worry with branch consolidation has been customer attrition, or the risk that accountholders will take their business elsewhere if their anchor local branch is closed or merged with another location.

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In this age of self-service channels and tech-savvy customers, do community banks still need to be investing in contact centers and trying to keep up with the money-center banks’ 24/7 accessibility? The simple answer is, yes.

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Print management is an important business function for banks, but it’s often overlooked.

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Customer wait time is one of the most reliable leading indicators of customer satisfaction in retail because, well, customers don’t like to wait.

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Editor Note: David Kerstein has updated this article.

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As the incidence and sophistication of account takeover attacks continue to grow, security breaches at prominent global brands, such as Target and eBay, are becoming regular news items.

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Bankers throughout the country are increasingly focused on both attracting properly-priced funds and creating more practical, customer-centric ways to retain quality deposits.

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Many banks are now in the midst of their budget and planning seasons, aimed at improving efficiency and performance in 2016.

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Banks frequently overpay by 15% to 20% or more on average for real estate compared to other retailers for comparable space.

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Bankers well understand the importance of the Millennials (born 1980 to 2000) to their future business.

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

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As branch traffic continues its decline and branch costs march upwards, community bank executives are often tempted to sell or close branches.

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Smartphones are increasingly recognized as a natural conduit for everyday financial transactions, such as making payments and scanning checks for deposit.

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In recent years, many banks have made significant investments in the commercial business to drive growth and to deepen customer relationships.

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As the likelihood of the Fed raising interest rates looms ever larger, it’s time for banks to consider the strategic implications of their time deposit funding portfolios, commonly referred to as certificates of deposit (CDs).

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For most banks, their retail franchise is the most valuable part of the company.

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The results of our 2015 FMSI Teller Line Study are in and they support widespread perceptions about declining branch transactions and staff productivity and rising labor costs.

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Many banks are losing money with every small business loan they make.

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What to do about overdraft (OD) fees, or the loss thereof? For banks with assets over $10 billion, service charge income on deposit accounts, with OD income being the largest component, fell by almost half between 2010 and 2013 and at a rate twice as fast as for smaller competitors.

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