Expanding the Boundaries of Retail Banking

For the 12 institutions named as finalists in the 2013 BAI-Finacle Global Banking Innovation Awards, innovation means expanding the boundaries of traditional products and services in retail banking to improve the customer experience. Below are short profiles of the finalists; the winners, as determined by a distinguished panel of judges, will be announced November 5 at BAI Retail Read More

By |2020-05-27T18:01:01-05:00October 15th, 2013|Comments Off on Expanding the Boundaries of Retail Banking

Targeting the ‘Unhappily’ Banked

Wal-Mart Stores Inc., which has long been one of the country’s most successful retailers, is increasingly moving into the financial services arena, a venture initiated during the tenure of former CEO H. Lee Scott Jr. (2000-2009). Scott will appear at BAI Retail Delivery 2013 on November 6 in Denver to discuss Wal-Mart’s strategy and approach for interacting and Read More

By |2020-05-27T18:01:01-05:00October 11th, 2013|Comments Off on Targeting the ‘Unhappily’ Banked

Innovation for the Customer Experience

With the global financial crisis of 2008-2009 mostly in the rear view mirror, banks around the globe can focus more on the future, which means improving the customer experience through innovation, particularly in the delivery of mobile services. That’s the view of a panel of bankers and financial services executives assembled to judge the 2013 BAI-Finacle Global Read More

By |2020-05-27T18:01:01-05:00September 13th, 2013|Comments Off on Innovation for the Customer Experience

Mobile as Sales Supplement, not Sales Substitute

Mobile banking services can be used as effective tools to help banks sell additional services and improve customer relationships, but only if they are used correctly and in coordinated efforts with other delivery and sales channels. “When it comes to buying bank products, customers will use multiple resources,” said Tom McDermott, senior vice president of cross-channel strategies Read More

By |2020-05-27T18:01:10-05:00December 21st, 2012|Comments Off on Mobile as Sales Supplement, not Sales Substitute

Understanding Customers with Segmentation Toolkits

Want to be able to hone in on what product your best business customers are likely to want next and which prospects will be the most profitable to target? Consider utilizing a “segmentation toolkit,” said Susan Brown-Monforte, senior vice president and marketing group manager for San Diego-based California Bank & Trust. Brown-Montforte made her comments during a Read More

By |2020-05-27T18:01:10-05:00November 6th, 2012|Comments Off on Understanding Customers with Segmentation Toolkits

Disciplined Process for Innovation

Innovation requires focus and a disciplined process. That’s the message from the winners of the 2012 BAI-Finacle Global Banking Innovation Awards, which were awarded at BAI Retail Delivery 2012 on October 9 in Washington, D.C. Each of the institutions that won in the four categories consciously focused on innovation as a way to differentiate themselves from competitors Read More

By |2020-05-27T18:01:10-05:00November 5th, 2012|Comments Off on Disciplined Process for Innovation

Product Bundling Pays Off for Banks

Product bundling is a successful and profitable concept in some industries, such as cable television. But can it be utilized in the banking industry? Our view is that it can, based on a recent conference presentation and our own analysis of nationwide data.   In a session entitled “Generating New Revenue Opportunities” at the recent BAI Retail Delivery Read More

By |2020-05-27T18:01:11-05:00October 23rd, 2012|Comments Off on Product Bundling Pays Off for Banks

Learning from Customers in Social Media

Retail bankers are monitoring comments in social media to gauge customer sentiment, as well as to broadly predict consumer behavior. In the process, they are learning more about their customers than they have been able to through surveys, focus groups and one-to-one interactions. And, while the practice is in its infancy, banks are also beginning to apply Read More

By |2020-05-27T18:01:11-05:00October 12th, 2012|Comments Off on Learning from Customers in Social Media

Banking on Digital Strategy

Do banks “get it right” when it comes to digital strategy? We recently posed that question to somebody eminently qualified to provide an answer: Aaron Dignan, CEO and founding partner of New York City-based Undercurrent, a digital strategy firm noted for working with some of the largest companies in corporate America. Dignan will appear in October as Read More

By |2020-05-27T18:01:12-05:00August 10th, 2012|Comments Off on Banking on Digital Strategy

Winning Sales in the Branches

What to do with the branch in an era of declining revenues is one of the top strategic problems facing retail bankers as they look to 2012 and beyond. With fee income expected to be down 30% or more next year due to recent regulatory restrictions, banks are under pressure to make their branch networks more productive. Read More

By |2020-05-27T18:01:27-05:00December 20th, 2011|Comments Off on Winning Sales in the Branches