No fun in banking anymore

Recently, I ran into a former colleague who was bemoaning that he had been fired. His misfortune was cushioned by a multi-year salary payment, continued health care insurance and full vesting of stock and options – not bad. But he also volunteered a comment that was very telling. His job, he said, had stopped being fun a Read More

By |2020-05-27T18:00:37-05:00February 13th, 2015|Comments Off on No fun in banking anymore

Measuring business performance for improved performance

By now, most banks have set their 2015 targets into motion, including return on assets, return on equity, efficiency and asset quality goals. Yet, many still haven’t implemented business line key performance indicators (KPIs) that tie to these goals. Inevitably, the quarterly projections come in and everyone scrambles to either cut expenses or manipulate the numbers to Read More

By |2020-05-27T18:00:37-05:00January 23rd, 2015|Comments Off on Measuring business performance for improved performance

Ten things banks should do but generally do not

For those who have been in the banking industry for a while, the pace of change has picked up noticeably. Previously, change happened so slowly that minor modifications to how we did business, implemented through the budgeting process, were sufficient to keep our bank relevant. Those days are long gone. Gone are the rigid regulatory restrictions on Read More

By |2020-05-27T18:00:37-05:00January 16th, 2015|Comments Off on Ten things banks should do but generally do not

Compensating employees appropriately

How much should community banks and credit unions pay their employees in the current tough banking market? That’s a question that we probed in the 2014 edition of our Retail Salary and Benefits Study for Community Banks and Credit Unions. We found that over the past 22 years, salary and benefits (S&B) rates for front-line employees, on Read More

By |2020-05-27T18:00:38-05:00January 12th, 2015|Comments Off on Compensating employees appropriately

With Onboarding, Cash Management Rules

Are retail banks building strong foundations for cross-sell or forfeiting major opportunities? A lot depends on the approach to onboarding, a set of activities aimed at cementing and expanding new customer relationships. Onboarding has received more than a decade’s worth of attention and extra effort. The best programs are quite formal, replete with detailed routines for customer Read More

By |2020-05-27T18:00:39-05:00October 31st, 2014|Comments Off on With Onboarding, Cash Management Rules

Coders as the rock stars of banking

I was having a debate the other day with two bank CEOs. One runs a direct bank that is going digital and the other runs a branch-centric bank that is investing in digital. At one point in the conversation, we got into a discussion about coders and, in a surprisingly frank dialogue, both CEOs said that coders Read More

By |2020-05-27T18:00:40-05:00October 6th, 2014|Comments Off on Coders as the rock stars of banking

Getting Back to Banking’s Higher Purpose

What banker wouldn’t love to have the enthusiastic and friendly employees typically found at Whole Foods Market? Building such a committed service and sales culture can be done but it certainly doesn’t happen overnight, according to Whole Foods co-founder and co-CEO John Mackey. Specific steps described by Mackey in a recent interview with BAI Banking Strategies include Read More

By |2020-05-27T18:00:40-05:00October 3rd, 2014|Comments Off on Getting Back to Banking’s Higher Purpose

Cultural Change for Universal Bankers

Once again, technology has raced culture to the finish line and won. As the concept of “universal banker” has gained currency far and wide, software has surfaced that can use market analytics to predict, with remarkable accuracy, branch traffic patterns, customer needs and labor needs. Which hours on which days can you expect a spike in customers Read More

By |2020-05-27T18:00:41-05:00August 8th, 2014|Comments Off on Cultural Change for Universal Bankers

Predictive Analytics for Strategic Capacity Planning

How are some banks growing revenue and maintaining target customer service levels without increasing branch staff? The short answer is by using predictive analytics. The key to simultaneously achieving these seemingly conflicting goals is harnessing the insights hidden in the data about branch activity. This includes data about customer arrivals, service times, wait times and details of Read More

By |2020-05-27T18:00:41-05:00August 5th, 2014|Comments Off on Predictive Analytics for Strategic Capacity Planning

Time Locking for Interruption Management

When you come across the words “bank efficiency,” more than likely “technology” and “consolidation” are in the vicinity. It’s almost an article of faith that those are the only two paths to bank efficiency: automation and consolidation. I’m all for technology innovation, but what happened to managerial innovation? Are managers to let technology usurp their search for Read More

By |2020-05-27T18:00:43-05:00May 9th, 2014|Comments Off on Time Locking for Interruption Management