Redefining the top-of-wallet customer

Influencing a customer’s decision to choose a specific credit card for any given transaction from her wallet can be challenging for card issuers. In the typical lifecycle of managing a bankcard customer, driving activation and usage is one of the most critical aspects of engagement.This is indeed a challenge for issuers, because consumers have many options available Read More

By |2020-05-27T18:00:12-05:00March 29th, 2016|Comments Off on Redefining the top-of-wallet customer

Rethinking the generation gap in banking

Meet Brittany. She’s 25 years old and works at her first job. Her paycheck is deposited directly into her checking account. She has a checkbook somewhere in her apartment, as she finds she does not need checks because her bank debit card is tied to Apple Pay on her phone.Back in Brittany’s college days, her parents electronically Read More

By |2020-05-27T18:00:13-05:00March 25th, 2016|Comments Off on Rethinking the generation gap in banking

Six keys to cross sell success

We all love lists, particularly those New Year’s resolutions for improving our businesses and ourselves. But the fact is, for most financial institutions, that any list should begin with one item. Once that item has been addressed in detail and signs of success have begun to appear, then banks should focus elsewhere. No other activity provides the Read More

By |2020-05-27T18:00:14-05:00February 5th, 2016|Comments Off on Six keys to cross sell success

Five ways to make cross-sell more effective

It's common knowledge that it’s easier and cheaper to sell to existing customers than to attract new ones. However, according to studies that I conducted at two major banking institutions, many cross-sell efforts result in little or no improvement in customer profitability. There are two primary reasons for this. First, most banks do not have an effective Read More

By |2020-05-27T18:00:16-05:00December 1st, 2015|Comments Off on Five ways to make cross-sell more effective

Embedded analytics for smarter sales

Bankers need help selling to demanding, savvy customers in all channels. But it’s a challenge to provide personalized, needs-based product and service offerings at the point-of-sale without possessing in-depth knowledge of every banking product. Today the sales process at the branch typically works like this: the banker asks a series of questions to help understand the prospect’s Read More

By |2020-05-27T18:00:16-05:00November 23rd, 2015|Comments Off on Embedded analytics for smarter sales

Building the sales justified branch network

Stretching back to the 1980s, a key worry with branch consolidation has been customer attrition, or the risk that accountholders will take their business elsewhere if their anchor local branch is closed or merged with another location. This concern has robbed flexibility in rationalizing and repositioning networks, given that each branch closure could potentially disturb customer relationships Read More

By |2020-05-27T18:00:16-05:00November 20th, 2015|Comments Off on Building the sales justified branch network

Four steps to acquiring millennials for wealth management

According to recent census information, the millennial generation now outnumbers the baby boomer generation. While the youngest millennials have yet to enter the workforce, the oldest in the group are in their early 30s, acquiring wealth, buying homes and starting families. In the coming years, this generation will be the recipients of the largest wealth transfer in Read More

By |2020-05-27T18:00:16-05:00November 16th, 2015|Comments Off on Four steps to acquiring millennials for wealth management

Three steps for attracting millennial customers

It's a simple fact: Millennials are your future customers. Already the largest group in the workforce, the leading edge is now in their 30’s and reaching an age when they have stable jobs, are forming families and buying homes. By 2020 they will have greater savings and investments than Baby Boomers. They are not just a customer Read More

By |2020-05-27T18:00:17-05:00November 13th, 2015|Comments Off on Three steps for attracting millennial customers

Five strategies for growing revenue

Editor Note: David Kerstein has updated this article. Banks are hungry for growth: hungry for new customers, for deeper and more profitable relationships with existing clients and for better alignment of expense against revenue opportunities. But achieving that growth is a difficult challenge. Low interest rates continue to put pressure on margins. According to the most recent Read More

By |2020-10-02T10:25:31-05:00October 23rd, 2015|Comments Off on Five strategies for growing revenue

Three priorities to set for 2016

Many banks are now in the midst of their budget and planning seasons, aimed at improving efficiency and performance in 2016. The continued low interest rate environment, limited growth opportunities and more non-traditional competitive threats have increased the pressure on bank managers to set clear, high-impact goals and deliver on them in order to demonstrate success. As Read More

By |2020-05-27T18:00:18-05:00October 9th, 2015|Comments Off on Three priorities to set for 2016