Articles
Checking accounts come with enticing rewards, but consumers should read the fine print
This content originally appeared here: [ LINK ] By Amanda Dixon A $200 or $300 cash bonus isn’t the only perk that comes with opening a new checking account. Some banks and credit unions are going above and beyond to reward new deposit account holders. Take the Citigold subscription program for example. Citigold clients in California…
Read MoreWhy Checking Products Matter More Than Ever
This content originally appeared here: [ LINK ] By Mike Branton The battle is on among all banks to acquire new customers and their low-cost deposits. The key to winning the battle for low-cost deposits is owning the primary banking relationship and, in particular, the consumer checking account relationship. The checking account is the central…
Read MoreRaising the Bar
“Companies like Facebook, Apple, Amazon, and Starbucks are changing the way that customers expect things to work in the mobile world.”
Don’t miss Dave DeFazio’s upcoming presentation at the WBA Bank Executives Conference, plus get a preview from Wisconsin Banker’s recent article on defining disruption in the banking industry.
Read MoreHow One Bank Leveraged FinTech for a Major Account Win
For Southern Bank, a 116-year old institution headquartered in Mount Olive, N.C., its early and prescient FinTech partnership paved the way for something unique: a suite of revenue-generating checking products that delight consumers and support local merchants.
Read MoreUse Good/Better/Best for Checking Success
Shop for a new car, a cell phone plan, a cable TV package or a major appliance these days and you’ll find one consistent and very successful product strategy–Good/Better/Best (GBB).
Read MoreUse Good/Better/Best for Checking Success
This content originally appeared here: [ LINK ] By Mike Branton Shop for a new car, a cell phone plan, a cable TV package or a major appliance these days and you’ll find one consistent and very successful product strategy–Good/Better/Best (GBB). GBB is a three-tiered strategy conceptually defined as follows: Good: A basic level of value…
Read MoreWill Consumers Buy Mobile Banking Subscriptions?
The number of people using subscription services like Amazon Prime, Netflix, Spotify, Birchbox, Dollar Shave Club continues to soar. Can financial institutions take advantage of this new business model?
Read MoreWhat to Do About the 35% of Checking Customers Costing You Money
This content originally appeared here: [ LINK ] By Mike Branton Consumer checking, while the simple hub product for most retail deposit and loan relationships, produces some not so simple challenges related to financial performance. Here’s the composition of a typical financial institution’s checking portfolio, based on the revenue generated by a household relationship. “Super”…
Read MoreWhat to Do About the 65% of Checking Customers Making You Money
This content originally appeared here: [ LINK ] By Mike Branton In a previous article, I wrote about the challenge of how to handle unprofitable customers, headlined “What to Do About the 35% of Checking Customers Costing You Money.” The logical follow-up question is what to do with the remaining 65 percent. Below is the…
Read MoreWhat Bankers Should Know About Consumer Checking Financial Performance
We actively track, quantify, rank and analyze nearly 4 million checking account relationships of community financial institutions nationwide. See our latest research that reveals the bottom line reality of checking.
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