How high-touch coaching drives banking sales excellence

Relationship management has changed. To succeed in today’s highly digitized world, relationship managers (that is, your sales staff) must cultivate the art of high-touch selling. This means that your people make meaningful human connections that focus on service instead of sales. The 2010 book “Go Givers Sell More” by Bob Burg and John David Mann tells us Read More

By |2020-05-27T17:58:08-05:00May 16th, 2019|Comments Off on How high-touch coaching drives banking sales excellence

How pooling branch staff improves customer and workforce engagement

Fact: We have fewer associates in each branch. Customers who visit branches come with more complex needs and higher expectations. So what happens when an associate goes on leave or quits? Staff is already stretched thin. The expectations of customers won’t change—unless they come to demand even more. Thus many banks are evolving the traditional teller pool Read More

By |2020-05-27T17:58:08-05:00April 29th, 2019|Comments Off on How pooling branch staff improves customer and workforce engagement

Making the most of mobile scheduling

Times have changed—and mightily so—since bank staffers had to check out a coffee-smeared wall calendar in the back office to find out their schedules, block out requested days off or leave a sticky note asking for takers on a shift swap. Thanks to mobile scheduling, employees can use their tablets or smartphones to swap or offer shifts, Read More

By |2020-05-27T17:58:12-05:00February 7th, 2019|Comments Off on Making the most of mobile scheduling

Setting the table: Can your bank serve a fast-food and fine-dining experience?

Like never before, technology and customer demands are changing the retail banking experience and options.  Your grandmother’s retail banking experience? She enjoyed no plenteous spread by comparison (no matter how well she could cook at home).  But in a world of unprecedented consumer choices, banks today face one of their own: Should retail lobbies operate like fast-food Read More

By |2020-05-27T17:59:48-05:00March 16th, 2017|Comments Off on Setting the table: Can your bank serve a fast-food and fine-dining experience?

Transforming branch staff with predictive analytics

In recent years, banks have been focused on driving costs out of the branch network with self-service technology, branch closures and staff reductions. Yet, there is a genuine risk that driving any more cost out of the branches with across-the-board staff cuts will drive customers out of the bank altogether.“Workforce is the lifeblood of any organization,” according Read More

By |2020-05-27T18:00:10-05:00May 15th, 2016|Comments Off on Transforming branch staff with predictive analytics

Five steps for hiring bankers who can sell

Recruiting is a big problem for most banks and financial firms. The question is always, “How do I hire bankers who can also sell?” Unfortunately, there is no simple answer to this question. However, the one thing you must recognize is that you and your process are responsible for the quality of the salespeople on your team Read More

By |2020-05-27T18:00:30-05:00August 11th, 2015|Comments Off on Five steps for hiring bankers who can sell

Lifting your compliance culture

It has always been a vital necessity for financial services companies to ensure that they are properly training their employees in matters of regulatory compliance. But, for too long, compliance issues and compliance training have been placed in separate silos, set apart from the real day-to-day work of the bank and even from its overall goals and Read More

By |2020-05-27T18:00:32-05:00June 29th, 2015|Comments Off on Lifting your compliance culture

Branch staffing based on local sales dynamics

For all that has been written about branches succumbing to the digital onslaught, it seems clear that banks will be clinging to the majority of their street corner outlets for some time to come. But it would be a big mistake to cling to antiquated branch management practices as well, particularly with regard to the all-important sales Read More

By |2020-05-27T18:00:36-05:00March 13th, 2015|Comments Off on Branch staffing based on local sales dynamics

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

No Universal Rollout for Universal Associates

With the continued accelerated adoption of non-branch channels such as mobile and the web, banks are facing the fact that branch traffic may not uptick anytime soon, if ever. This reduction in traffic not only results in lower transaction volumes but also reduces opportunities for selling – and the customer engagement that fosters account-holder loyalty. In such Read More

By |2020-05-27T18:00:42-05:00July 11th, 2014|Comments Off on No Universal Rollout for Universal Associates

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

How to Manage the Decline of the Teller Job

What do bank tellers, toll booth attendants and mail carriers have in common? Each group has provided decades of specialized manual service, yet is being overtaken by technology alternatives and changing customer behaviors. The trend of eroding manual transactions is prevalent in U.S. service industries, as also experienced by video store and book store clerks, and even Read More

By |2020-05-27T18:01:00-05:00January 6th, 2014|Comments Off on How to Manage the Decline of the Teller Job

The Elephant in the Room Is People

Wikipedia defines the term “the elephant in the room” as referring “to a question, problem, solution, or controversial issue which is obvious to everyone who knows about the situation, but which is deliberately ignored because to do otherwise would cause great embarrassment, or trigger arguments or is simply taboo.” So, what – or who – is the Read More

By |2020-05-27T18:01:01-05:00October 4th, 2013|Comments Off on The Elephant in the Room Is People

A Universal Staffing Mix

As the traditional bank branch shrinks or even disappears in coming years, what becomes of branch staffing models? “The short answer is that everybody is making things work more efficiently and to improve engagement with the customer,” says David Hawkins, senior vice president and director of customer experience for Huntington Bancshares Inc. of Columbus, Ohio. “It’s not Read More

By |2020-05-27T18:01:02-05:00August 26th, 2013|Comments Off on A Universal Staffing Mix

Every Leader Needs a ‘Leader’s Scorecard’

Leadership is without question one of the most important traits that any manager can exhibit, one of the hardest to quantify and measure and a skill that takes years to develop and refine. There are as many different ways to look at leadership development as there are people in any organization. If it were simple to train Read More

By |2020-05-27T18:01:04-05:00May 24th, 2013|Comments Off on Every Leader Needs a ‘Leader’s Scorecard’

Going Local to Optimize Branch Profitability

Former U.S. Speaker of the House Tip O’Neill famously coined the phrase “all politics are local,” expressing the need for successful politicians to understand and reflect the concerns of their local constituents. And the same sentiment couldn’t be more true for banks and bankers. In this era when consumers and small businesses are migrating away from physical Read More

By |2020-05-27T18:01:08-05:00February 15th, 2013|Comments Off on Going Local to Optimize Branch Profitability

The ‘People Process’ in Branch Productivity

With many financial institutions (FIs) facing another year of declining average retail branch transaction activity and rising payroll costs (40.2% and 76.1%, respectively over the past two decades, per FMSI’s Annual Teller Line Study), upper management in most companies is actively seeking ways to reduce branch expenses, increase sales or both. Labor, of course, is usually the Read More

By |2020-05-27T18:01:08-05:00February 4th, 2013|Comments Off on The ‘People Process’ in Branch Productivity

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

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

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