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Developing primary relationships requires more than customer incentives and new product features. For many banks, the key is improved customer onboarding.
Facing reduced customer loyalty and new regulatory pressures, banks must abandon punitive fees and offer services customers will gladly pay for– such as expedited payments.
In the wake of the financial crisis, board members will be expected to be more knowledgeable about risk management – and more assertive in their oversight.
Payments bankers grapple with the issues of mobile banking, same-day transactions, nonbank competition and fee income restrictions.
Expect a reduction in short-term deposit balances for most of 2010 as long as these deposits yield a net negative return when adjusted for inflation.
While security of the mobile channel isn’t yet a big public issue, bankers are preparing themselves for the day when it will be.
When a bank needs to improve risk management systems and IT is absorbed with other priorities, risk managers need to look at intelligent decision automation.
Transforming the customer experience from unremarkable to sensational requires ascertaining the customer’s true needs.
The recent financial crisis opens the door to more cross-selling by banks but also presents some new challenges.
Banks located in earthquake-prone zones stress the importance of a multi-pronged disaster recovery plan that is continually updated and communicated throughout the organization.
Amid uncertainties about the national economy, bankers are seeking to balance improved service with cost-effectiveness in their branch networks.
While new regulatory restrictions on overdraft charges may force large banks to abandon free checking, the product remains a competitive differentiator at community banks.
... the expectation is that directors become more influential in helping management to shape their bank’s future.
This really is the year of mobile banking.
… we’re having a great deal of success in cross-selling savings products, because people realize they need to have a better savings base.
As the banks transfer functionality to mobile, the viruses will follow.
Anticipating higher interest rates, consumers continue to shy away from short-term deposits.
IT resources have been swamped by waves of regulatory and compliance changes, acquisition integrations and legacy infrastructure issues.
Since many customers may lack power or Internet access in the wake of a disaster, offering access to funds is critical.
You don’t have to dramatically redo the branch to turn it into an effective sales location.
Every branch needs a coach or coordinator who is charged with overseeing the customer experience.
The few banks that become the trendsetters and break from the pack will be able to profit in different ways to compensate for losing money through tra...
Free checking is a win-win proposition for community banks, even with the new rules on overdraft.
When critical elements of an onboarding program are missing, banks tend to have limited success.