(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.data-privacy-src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-P7RK2W');

Banking’s IT Pain Points

I was sitting through a vendor presentation when a slide popped up titled: “Industry Pain Points.” It was an interesting take on the banking industry’s challenges with technology. The slide was divided into four sections, the first of which talked about the challenges of managing technology effectively. The issues here relate to:  increasing total cost of ownership; an Read More

By |2020-05-27T18:01:06-05:00April 23rd, 2013|Comments Off on Banking’s IT Pain Points

It’s About Time for Cultural Change

If you ask bankers in the C suite about their New Year resolutions, you won’t find many who fail to mention time. This year they are firmly resolved to spend their time differently: more time with customers, more time with employees about customers and more time on customer strategy. At first glance, it’s the perfect resolution. People Read More

By |2020-05-27T18:01:09-05:00January 22nd, 2013|Comments Off on It’s About Time for Cultural Change

Improving Teller Performance with Peer Data

For many banks, improper scheduling on the teller line is one of the biggest silent profit killers in their retail branch network. Because it is difficult to precisely identify exactly what each teller is doing and how this correlates with account holder traffic flow, many financial institutions (FIs) persist in scheduling based on what is available to Read More

By |2020-05-27T18:01:09-05:00January 9th, 2013|Comments Off on Improving Teller Performance with Peer Data

How Bank-at-Work Can Work

"Bank at Work,” or workplace banking, is not a new concept but it’s one that may deserve a second look from growth-starved bankers since best-in-practice banks have embraced this strategy to drive as much as between 40% and 60% of all new consumer accounts. And the time is definitely right for this renewed attention. Fewer customers are Read More

By |2020-05-27T18:01:10-05:00November 21st, 2012|Comments Off on How Bank-at-Work Can Work

Supercharge Your Onboarding Program

Ninety days – that’s the window of opportunity to cross-sell, upsell and optimize the lifetime value of a new retail banking customer, while their interest is at a peak. During this time, each customer interaction shapes the long-term relationship and ultimately the bank’s ability to retain each customer. To minimize characteristically high churn during the first year Read More

By |2020-05-27T18:01:11-05:00October 16th, 2012|Comments Off on Supercharge Your Onboarding Program

Improving Branch Productivity with Part-time Tellers

Increasingly, banks seeking to optimize branch staffing are using qualified part-time tellers to supplement full-time staff during peak volume periods. This strategy is frequently touted as an effective approach to lowering branch labor cost and our recent research proves that belief to be true. After analyzing more than 17 million transactions in 2,500 plus branches, we found Read More

By |2020-05-27T18:01:11-05:00October 15th, 2012|Comments Off on Improving Branch Productivity with Part-time Tellers

Strategies for Optimal Teller Scheduling

Workforce utilization management – the process of tailoring staff schedules to meet need and thereby eliminating wasted payroll hours – is an especially complex task when it comes to tellers. Banks want to minimize customer wait time in their branches, but busy periods are often short and unpredictable. The tendency has been to use industry forecasts and Read More

By |2020-05-27T18:01:16-05:00April 9th, 2012|Comments Off on Strategies for Optimal Teller Scheduling

Employee Retention for Customer Service

With revenues under pressure and cost-cutting measures moving to the forefront, the next few years are likely to be difficult for bank employees. Managers will have to work hard to maintain employee morale – particularly for tellers – in order to continue delivering the customer service levels required in a very competitive environment. Some lessons in employee Read More

By |2020-05-27T18:01:17-05:00March 5th, 2012|Comments Off on Employee Retention for Customer Service

The Big Bank Banker: Handle with Care

Anyone who hasn’t been living under a rock with the Geico gecko has likely noticed that the banking industry has been taking it on the chin for the past couple years. Hardly a week goes by without a press release announcing the next round of layoffs at the big banks particularly. What does this mean for mid-size Read More

By |2020-05-27T18:01:18-05:00January 20th, 2012|Comments Off on The Big Bank Banker: Handle with Care

Bank Size: The Difference that Matters

Years ago, I went from being the senior operations officer for a large bank in a metropolitan area with a flock of VPs at my disposal to being senior vice president and cashier/operations division head for a small bank in a rural market. My direct reports included the security guard (as with Deputy Barney Fife on the Read More

By |2020-05-27T18:01:29-05:00October 14th, 2011|Comments Off on Bank Size: The Difference that Matters

Embedding Behavior for Improved Training

Before Captain Chesley B. “Sully” Sullenberger III taxied US Airways Flight 1549 to take-off on January 15, 2009, he and his co-pilot took out the pre-flight checklist for the Airbus A320 and went through it meticulously, calling out each step, confirming each item. They did it the same way they had done it hundreds of times before, Read More

By |2020-05-27T18:01:31-05:00July 8th, 2011|Comments Off on Embedding Behavior for Improved Training

Burned Out? You Might Just Need a Sabbatical

It probably won’t come as a shock to you to learn that a lot of people working in the financial services industry aren’t happy and that they’re not feeling particularly loyal to their institutions. The financial crisis took its toll on the people who were let go as well as those left working. Wage freezes, slashed bonuses Read More

By |2020-05-27T18:01:32-05:00April 20th, 2011|Comments Off on Burned Out? You Might Just Need a Sabbatical

Problem resolution: The quality service hurdle

Most banks today have solid strategies in place for selling their services and providing high levels of customer service prior to each sale. Some institutions have even taken major initiatives to ensure quality service after a sale during typical customer transactions. There is, however, an evident lack of focus on the quality of service provided when a Read More

By |2020-05-27T18:01:32-05:00April 18th, 2011|Comments Off on Problem resolution: The quality service hurdle

Branch Culture: Farewell to Order-Taking

At a time when roughly 40% of U.S. branches are financially underwater and new regulations are further curtailing revenues, it is painfully clear that banks can no longer count on “free” products and single-shot promotions to drive customer traffic and sales volume. Branches that formerly were organized to efficiently fulfill marketing-generated product orders now must rise to Read More

By |2020-05-27T18:01:33-05:00December 31st, 2010|Comments Off on Branch Culture: Farewell to Order-Taking