Articles
What the Rise of Embedded Fintech Means for Community Banks and Credit Unions
By Gregg Early Since “The Rise of the Fintechs,” a lot of terminology has been thrown into circulation. Some doesn’t last more than a few months, some is in continual flux. And other terms start to mature and redefine themselves. That’s where we find ourselves with “embedded fintech.” Not so long ago, the most…
Read MoreThe Scoop: Hot Takes on Today’s Retail Banking Issues
June 30, 2022 The issues bankers face regarding modern retail banking products and strategies aren’t for the faint-hearted. You have to make decisions with conviction and then be able to zig when you need to and zag when you have to. Otherwise, your FI will fall behind. And catching up isn’t easy. Here’s our scoop…
Read MoreThe Scoop: The Future of Checking Accounts
May 18, 2022 With fundamental financial changes reverberating around the globe, one thing we don’t anticipate will change is demand for checking accounts and the march forward of digital product delivery. Here’s our scoop on the latest industry news. The Future of Checking Accounts Whatever they’re called in the future, checking accounts remain a primary…
Read MoreHow Should Your FI Overhaul Your Overdraft Fees?
By Mike Branton Banks and credit unions have been making material changes to their overdraft fees and policies with increasing frequency since the middle of 2021. To date, the national banks, large regional banks, and a sprinkling of credit unions have led the charge with announcements that make their public relations providers proud. Community…
Read MoreGrowing Loyalty in Banking
By Ryan Harbry Customer loyalty is a big deal: repeat revenue, predictable profitability, sustainable customer satisfaction, just to name a few. So, how then does a banking organization get a higher percentage of customers to frequent them again and again? Choosing to remain faithful even when there are so many other places offering the same…
Read MoreMonetize This!
Since the founding of the first U.S. bank, customers have expected to do their banking in the most modern way possible. By Ryan Harbry Imagine the following conversation: Customer service representative: “So, is this the right account for you?” New customer: “Yes, sounds great.” Customer service representative: “Excellent. In which case, I suggest signing up…
Read MoreHow Capital One’s new policy will affect your bottom line
By Dave Pond In a stunning move, Capital One announced Wednesday plans to scrap overdraft and NSF fees for consumers beginning in Q1 2022. In an email to employees, Capital One CEO Richard Fairbank said the move was “our effort to bring ingenuity, simplicity and humanity” back to banking, according to USA Today reports. The…
Read MoreMake Gen Z Your Plan A
By Dave Pond During my college years, I couldn’t walk past the university bookstore without being surrounded by men and women offering free t-shirts — all I had to do was apply for a new credit card. That’s no longer legal, and it’s a good thing. See, thanks to those offers, I regularly flirted with…
Read MorePrimary Relationships or Bust
By Ryan Harbry Customer loyalty is essential in every industry under the sun. In banking, it matters even more than most industries because not only do unloyal customers represent a missed opportunity for revenue; they have the potential to cost more than they are bringing in — creating a drag on earnings. And, if we’re…
Read MoreCompeting with the Gigantosauruses and Digitalbatrosses
I know you’re thinking that this isn’t a great analogy because dinosaurs are extinct, and an “albatross” is a psychological burden that feels like a curse. But gigantosauruses are (OK, were) huge, powerful animals (like the Big Tech companies) and albatrosses are one of the fastest species of animals, flying at nearly 80 miles per…
Read More