Posts Tagged ‘exclude articles’
Redefining Primary Relationships
By Mike Branton and Dave DeFazio This article originally appeared in Bank Director. Ask 100 bankers to define what it means to be the primary financial institution for a consumer, and you’ll likely get 100 different answers. Ask 100 consultants to bankers what being the primary FI entails, and you’ll probably get 100 more…
Read MoreEvolution Can Be More Dangerous than Revolution: Digital Adoption for US Banks and Credit Unions
By Adam Thompson While there’s a lot of talk about industry or technology revolution, the fact is it’s generally evolution that transforms an industry and lays waste to stragglers and the stubborn. One industry where we can see what digital evolution has done is in consumer retail. At the turn of the century, major…
Read MoreMake Your Financial Institution a Financial First Responder
By Gregg Early When we talk about first responders, we usually envision law enforcement, military, and fire and rescue workers running towards danger as everyone else is running from it. But banks and credit unions can be financial first responders to the dangers – and opportunities – that occur in the lives of customers…
Read MoreHow Community Banks and Credit Unions Remain Relevant in an Increasingly Digital-Driven Sector
By Gregg Early There’s no doubt that there’s a significant gap between the banking industry’s long-term strategic challenges before the pandemic and after the pandemic. When branches shut down, traditional financial institutions only had their existing digital banking infrastructure to rely upon. And sometimes, it was just the bare minimum. I remember calling a…
Read MorePrimacy: The Bigfoot of Banking
With the acceleration of digital banking, we’ve heard a lot about customer primacy (or primary account holders). By Gregg Early But as we asked bankers around the country about this, we seem to get a number of answers and non-answers. Almost to a person all of them say that maintaining and expanding primary accounts…
Read MoreAdapt or Die Is More Than Metaphor in This New Digital Banking World
By Gregg Early There is no doubt that the banking and financial services industry has transformed significantly since 2008. On a broader scale you can see from the chart below that the only asset size that’s really gaining any ground in recent years are the mega banks. Source: Next City And no community bank or…
Read MoreWhat 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…
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