How time and technology impact millennial credit growth

The millennial generation comprises one of the nation’s largest population segments. According to U.S. Census Bureau, consumers aged 22-34 earned 25 percent of all income in the U.S. in 2015. Think about that. It equals enormous buying power and makes millennials an attractive consumer segment for many industries, including financial services. Economic cycles, technological advancements and lending Read More

By |2020-05-27T17:58:43-05:00November 29th, 2017|Comments Off on How time and technology impact millennial credit growth

Content marketing beyond the website

After banks shifted marketing online, they populated their sites with financial advice, success stories of small businesses and tools to calculate useful information from car payments to accounts receivable turnover. The more engaging the content, the more often viewers applied for credit cards and loans. Now, financial institutions such as Wells Fargo & Co., Capital One and Read More

By |2020-05-27T17:59:49-05:00February 14th, 2017|Comments Off on Content marketing beyond the website

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 Read More

By |2020-05-27T17:59:50-05:00February 1st, 2017|Comments Off on Marketing’s Role in Revenue Growth

Dealing in digital, connecting with customers: Are banks’ priorities aligned with consumer preference?

The rush to mobile platforms and apps might be transforming the banking industry—especially when it comes to attracting and retaining Millennial customers. But new research cautions banks and other businesses to pay attention to the human touch when it comes to customer service. In fact, a global study of more than 24,000 consumers and 1,000 businesses makes Read More

By |2020-05-27T18:00:02-05:00December 13th, 2016|Comments Off on Dealing in digital, connecting with customers: Are banks’ priorities aligned with consumer preference?

The Millennial perennial: How can community banks keep up with customer demands?

In an article last month, I listed some of the major challenges facing smaller financial institutions. One of them is the fact that customers are demanding more and more. The primary distinguishing feature of community banks is their personalized service for small businesses. And the customer is king or queen! Banks must respond – but how? How Read More

By |2020-05-27T18:00:03-05:00December 8th, 2016|Comments Off on The Millennial perennial: How can community banks keep up with customer demands?

The future of financial services: Digital, personalized, customer-centric

Not too long ago in financial services professionals built relationships — and created a positive experience — by meeting the customer in person for coffee or lunch. The customer would then gain confidence in the professional’s knowledge and ability to anticipate and address their needs. Today, the financial services landscape has changed, and it’s all about “digital.” Read More

By |2020-05-27T18:00:03-05:00December 7th, 2016|Comments Off on The future of financial services: Digital, personalized, customer-centric

Millennials embrace banking innovation

As they overtake Baby Boomers as America’s largest generation, Millennials may not automatically equal mobile tech—but in the banking world, it’s getting pretty close. Mobile banking adoption rates among Millennials are sky high: two in three banking consumers 18 to 29 did some type of mobile banking in the prior year, according to the Federal Reserve’s most Read More

By |2020-05-27T18:00:04-05:00November 4th, 2016|Comments Off on Millennials embrace banking innovation

Serving the younger generation in wealth management

Many bank wealth management groups serve young people as “accommodation clients” – because they are family members of existing clients. But as Gen X and Millennials accumulate more assets, banks will have to sharpen their focus on courting them if they want to thrive in the future. “The banks that are successful in attracting younger clients know Read More

By |2020-05-27T18:00:05-05:00October 14th, 2016|Comments Off on Serving the younger generation in wealth management

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

Three strategies to transform bank branches

I’ve read many articles about the death of bank branches since I started in the industry more than 30 years ago. Since then, my position hasn’t wavered much: Bank branches aren’t going away—but they must change. Why? Three reasons: For most banks, branch networks are the first or second largest expense category. Most banks have seen human-based Read More

By |2020-05-27T18:00:06-05:00September 12th, 2016|Comments Off on Three strategies to transform bank branches