Digital newcomers push traditional banks to improve

Startup financial technology (FinTech) companies may be the best thing to happen to traditional banks in a long time. No, really.Many have warned that the introduction of digitally savvy options into a traditional market can be disastrous. After all, just look at what Uber is doing to the taxi business. In a heavyweight match between traditional banks Read More

By |2020-05-27T18:00:09-05:00June 13th, 2016|Comments Off on Digital newcomers push traditional banks to improve

Marketing’s role in revenue growth

Many bank executives still view marketing as the champion of brand building, essentially a middleman that funnels leads to sales and adds little value to the bottom line.But new digital capabilities are dramatically expanding marketing’s role in banking, which is morphing from a cost center into an engine for top- and bottom-line revenue growth. Perhaps more than Read More

By |2020-05-27T18:00:09-05:00June 13th, 2016|Comments Off on Marketing’s role in revenue growth

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

FinTech property rights and banks

It’s an odd paradox: the financial services industry spends millions on title searches and title insurance each year, but has not been quite as diligent in exploring who actually owns the intellectual property behind its mission-critical technology. Granted, bank exposures are somewhat mitigated through contractual indemnification and warranties. However, as the industry continues to use more non-traditional vendors Read More

By |2020-05-27T18:00:10-05:00May 31st, 2016|Comments Off on FinTech property rights and banks

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

Transforming branch staff with predictive analytics

In recent years, banks have been focused on driving costs out of the branch network with self-service technology, branch closures and staff reductions. Yet, there is a genuine risk that driving any more cost out of the branches with across-the-board staff cuts will drive customers out of the bank altogether.“Workforce is the lifeblood of any organization,” according Read More

By |2020-05-27T18:00:10-05:00May 15th, 2016|Comments Off on Transforming branch staff with predictive analytics

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

Five strategies for competing with FinTechs

Financial technology (FinTech) start-ups are bringing noticeable competition to the financial industry’s traditional retail and investment banks. What differentiates them from traditional banks is their agility in addressing specific pain points such as payments, loans, mortgages, personal finance and remittance at speeds and pricing that is difficult for traditional banks to match. Like Uber for taxis, Netflix Read More

By |2020-05-27T18:00:11-05:00May 9th, 2016|Comments Off on Five strategies for competing with FinTechs

Ten steps to succeed with microbusinesses

Microbusinesses, defined as firms with annual revenues of less than $1 million, constitute 90% of all businesses and thus represent a significant opportunity for banks. But given the small size of loans involved in this segment, how does a bank profitably serve these customers?The following is a suggested ten-step process for improving branch sales and service to Read More

By |2020-05-27T18:00:11-05:00May 2nd, 2016|Comments Off on Ten steps to succeed with microbusinesses