Gone are the days when banks could count on depositors seeking shelter from the recession. With rising rates, how can banks rise to the occasion?
With its new ‘crowdsourced’ credit card, Barclays Bank is hoping to use social media to create a kind of ‘virtual’ credit union, says bank executive Paul Wilmore.
To restart growth in consumer credit, retail banks need to look at nontraditional products such as the unsecured line of credit and the dynamic liquidity line; the key is to organize offers around essential customer needs.
When deciding whether to impose service fees, banks need to consider consumer preferences as well as the competitive landscape.
Consumers fled most types of CDs in the wake of the financial crisis and are unlikely to favor them again until the economy returns to a more ‘normal’ state.
Institutions that are not practicing regional pricing are very likely mispricing their deposits, even in a low-rate environment.
Alex Matjanec, co-founder of MyBankTracker.com, sees new bank fees as inevitable in 2012, imposing a burden on consumers to search for value in their banking relationships.
A consistent measurement methodology helps bankers manage the profitability of their CD funding.