Checklist for small business banking success

“Why should we bother with small businesses? Your own numbers say most banks lose money from small business loans.” – Retail bank head, Northeast “We are much more interested in the middle market than small businesses. We can make larger loans at a similar cost base. We are avoiding small business lending.” –Retail bank head, Southeast “We Read More

By |2020-05-27T18:00:12-05:00April 14th, 2016|Comments Off on Checklist for small business banking success

Rise of the super banks post-crisis

Bigger is better may not have been what the politicians and regulators envisioned post-financial crisis but that’s what we now have in the banking industry. In short, big banks in the United States have closed ranks and gotten much bigger over the past decade, while smaller banks have either merged their way into the middle tier ranks, Read More

By |2020-05-27T18:00:12-05:00April 8th, 2016|Comments Off on Rise of the super banks post-crisis

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

Millennials on banks and money

There’s been a lot of debate about millennials and their likes and dislikes. I myself cite regular surveys that millennials would rather go to the dentist than visit their bank and that surveys of millennials find no bank brands are desired. In some ways, this gives a false impression, as we have to think that when we refer to Read More

By |2020-05-27T18:00:16-05:00December 11th, 2015|Comments Off on Millennials on banks and money

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