Wooing deposit customers for wealth management

In the eight years since the financial crisis, the roller coaster changes within retail banking have driven large banks to more aggressively cross-sell existing customers on products and services outside of traditional loans and deposits. Slammed by a combination of low-interest rates and weak non-interest income, more retail banks have been working to sell their current deposit Read More

By |2020-05-27T18:00:06-05:00September 19th, 2016|Comments Off on Wooing deposit customers for wealth management

Automating loan decisions for small businesses

It’s no secret that small business loans historically offer small profit; in fact, there is little economic difference in funding a $100,000 loan versus a $1 million loan. However, even though these loans may not always be the biggest movers to a bank’s bottom line, this type of lending is essential to establishing and building lasting relationships Read More

By |2020-05-27T18:00:08-05:00July 15th, 2016|Comments Off on Automating loan decisions for small businesses

Three tips for growing core customer relationships

Have you heard this from a community banker? “We are uniquely positioned to service the affluent customer.” And, “Our service is second to none.”Don’t fool yourself. Your prospects don’t know about your service unless it causes problems for them. And, very few community-based financial institutions are more uniquely positioned to serve the affluent class than are their Read More

By |2020-05-27T18:00:09-05:00June 27th, 2016|Comments Off on Three tips for growing core customer relationships

Information access for customer service

While digital banking is one of the fastest growing channels for financial services, banking employees are still far and away the preferred interaction point. Especially when it comes to more complex financial needs – loans, investments or debt management – the primary channel banking consumers still use for researching and purchasing products is people. For example, a Read More

By |2020-05-27T18:00:09-05:00June 20th, 2016|Comments Off on Information access for customer service

From customer friendly to customer intimate

In any company, rigorous strategic planning is bound to cause discomfort as old assumptions and long-held mindsets are challenged and re-examined. This was certainly the case for Billings, Montana-based First Interstate, an $8.7 billion community banking organization operating over 80 offices throughout Montana, Wyoming and South Dakota.Our strategic planning process explored new terrain and definitely shook things Read More

By |2020-05-27T18:00:10-05:00June 6th, 2016|Comments Off on From customer friendly to customer intimate

Improving returns on marketing investment

Traditionally, quantifying the return on investment (ROI) of bank marketing has been elusive. In today’s more competitive environment, it simply is not enough to base marketing results on inferences. Fortunately, today’s bankers have access to a combination of tools and services to measure marketing’s true impact and determine actual ROI. A bank’s ability to successfully reach and attract Read More

By |2020-05-27T18:00:10-05:00June 6th, 2016|Comments Off on Improving returns on marketing investment

A closer look at alternative lenders

Over the past year, the alternative lending industry has taken several steps forward and, then, a big leap backward. The most notable step forward centers on the relationship between OnDeck Capital and JPMorgan Chase & Co. Chase now leverages OnDeck’s technology for its small business loans. This relationship, among others, has helped to focus senior bank managers Read More

By |2020-05-27T18:00:10-05:00June 3rd, 2016|Comments Off on A closer look at alternative lenders

Improving the customer experience with journey mapping

Sometimes, a simple shift in perspective makes a big difference. That’s what banks are discovering when their contact centers utilize a method of analysis known as “customer journey mapping.” By looking at their internal processes from the customer’s point of view, these institutions are improving both contact center efficiency and customer satisfaction.The practice of customer journey mapping Read More

By |2020-05-27T18:00:10-05:00May 19th, 2016|Comments Off on Improving the customer experience with journey mapping

Nine tips for improving branch lobby performance

At one end of the continuum for branch lobby services and sales are those banks whose frontline staff are well trained and equipped to combine prompt, knowledgeable and courteous service with enviable cross-sale rates. At the other end … well, let’s just say no financial services provider wants to be there.Where does your branch performance land on Read More

By |2020-05-27T18:00:11-05:00May 12th, 2016|Comments Off on Nine tips for improving branch lobby performance

Reconfiguring branch staffing for sales

As consumer digital migration drains ever more branch traffic, banks have been working through a delicate transition with branch staffing.Amid all the pressing questions, sales, service, headcount and skills, executives have drawn comfort from the assumption that they at least had a rough idea of how consumer branch usage would shake out. Ultimately, it has been thought, Read More

By |2020-05-27T18:00:11-05:00May 6th, 2016|Comments Off on Reconfiguring branch staffing for sales

Surviving three most common M&A challenges

From initial discussions to final closing, merging two financial institutions is no small feat. The due diligence phase, which is the most critical component of the entire process, can reveal operational flaws, non-public orders, improper financials and numerous other items that were not apparent in early discussions. Beyond due diligence, however, there are three primary challenges that Read More

By |2020-05-27T18:00:11-05:00April 25th, 2016|Comments Off on Surviving three most common M&A challenges

Leveraging customer data through the core

One of the central problems banks face is that, despite the wealth of information available to them, there is still much they do not know about their customers. For example, a customer might have a checking account and a car loan with your bank. This means you have a wealth of information on the customer’s daily spending Read More

By |2020-05-27T18:00:12-05:00April 20th, 2016|Comments Off on Leveraging customer data through the core

Mobilizing account opening

Although most U.S. banks offer some type of mobile channel, significant disconnects remain. For example, only about a quarter leverage mobile for account opening, or plan to begin doing so.One considerable mobile onboarding hurdle is achieving convenient, secure and compliant ID document presentation and authentication. In March, at BAI Payments Connect 2016, mobile deposit software pioneer Mitek, Read More

By |2020-05-27T18:00:12-05:00April 18th, 2016|Comments Off on Mobilizing account opening

Leadership and technology for global financial services innovation

The financial services world changed forever following the financial crisis, but not just because of the economic environment. Sure, the economy had an impact on the way regulatory requirements were established but the real driver of change has been the consumer. Faced with increasing expectations, changing behavior and advancing technology, some leading financial institutions have successfully recognized Read More

By |2020-05-27T18:00:12-05:00April 11th, 2016|Comments Off on Leadership and technology for global financial services innovation

Rise of the super banks post-crisis

Bigger is better may not have been what the politicians and regulators envisioned post-financial crisis but that’s what we now have in the banking industry. In short, big banks in the United States have closed ranks and gotten much bigger over the past decade, while smaller banks have either merged their way into the middle tier ranks, Read More

By |2020-05-27T18:00:12-05:00April 8th, 2016|Comments Off on Rise of the super banks post-crisis

Three ways to make your bank customer-centric

In today’s digital economy, banking, like other industries, faces “disruptive” expectations from customers. Both individuals and businesses expect access to and delivery of services virtually on demand. Winning companies are responding by creating innovative approaches to the customer experience. They have learned that recalibrating their processes, bringing them into alignment with customer expectations, has resulted in new Read More

By |2020-05-27T18:00:12-05:00April 4th, 2016|Comments Off on Three ways to make your bank customer-centric

Three branch models for the future

If you have only scanned the headlines from the business world, the news about bank branches seems grim, as every week brings more branch closings by banks and credit unions.In many of those instances, managers of the financial institution cite the changing nature of customer behavior.  And yes, transactions are down dramatically, with volume dropping 45% since Read More

By |2020-05-27T18:00:13-05:00March 28th, 2016|Comments Off on Three branch models for the future

Four ways to improve mobile banking

When USAA introduced mobile check deposits back in 2009, the feature wasn’t exactly welcomed with open arms. Perhaps the bank was a bit ahead of its time, as smartphones were just coming into vogue and consumers barely trusted the Internet with their personal information – let alone their mobile devices.Today, however, mobile banking is on the rise, with Read More

By |2020-05-27T18:00:13-05:00March 21st, 2016|Comments Off on Four ways to improve mobile banking

Banking technology changes in 2016

2015 was a key year of change for the banking industry, with disruption and innovation taking center stage. The pace of change is set to accelerate further in 2016, driven by the continued proliferation of technology, the emergence of non-traditional players across the banking value chain, overall pressure on banks’ bottom lines and evolving customer expectations.As a Read More

By |2020-05-27T18:00:13-05:00March 15th, 2016|Comments Off on Banking technology changes in 2016

Three essentials for bank-at-work programs

It goes without saying that retail banking has many moving parts and Bank-at-Work programs are no exception. From target strategy to sales protocols and from results tracking to offer fulfillment, successful program implementation requires that banks maintain a comprehensive structure around their Bank-at-Work initiatives.But within that program structure, three things stand out because without them you’ll just Read More

By |2020-05-27T18:00:13-05:00March 11th, 2016|Comments Off on Three essentials for bank-at-work programs