Yearly Archives: 2009

Technology: The Silver Lining in the Banking Crisis Series – Rebuilding trust

Tom Johnson
By:  Tom Johnson
On: December 17, 2009
Topics: Customer Experience, Technology
Tagged: , ,

Many banks have done nothing to damage their reputation, but the general tone of the financial sector has customers wondering if their bank is going to fail or treat them differently. Banks must be conscious of how they make decisions to close inactive accounts or reduce credit limits of current customers. If this is done… Continue reading →

Lifestyle Banking: Moving Financial Behavior from Conscious to Unconscious

Eric Lindeen
By:  Eric Lindeen
On: November 14, 2009
Topics: Customer Experience
Tagged: ,

Lifestyle banking, as I use it here, refers to integrating banking services seamlessly into our customers’ lives. That is, to transition banking from something we must stop and accomplish into something we barely notice. A non-finance example of this is iTunes. Prior to its invention, consumers had to make the conscious decision and physical commitment… Continue reading →

Technology: The Silver Lining in the Banking Crisis Series – Credit Risk

Tom Johnson
By:  Tom Johnson
On: November 4, 2009
Topics: Credit Risk Management, Technology
Tagged: , ,

Financial institutions today are facing significant challenges because the historical length of time required to develop and implement new credit risk policy is ineffective in a rapidly changing economic climate. The time ranges, depending on the institution, but can be anywhere from 12–18 months or more. That is simply too long. When the market is… Continue reading →

Technology: The Silver Lining in the Banking Crisis Series – Customer Service

Tom Johnson
By:  Tom Johnson
On: October 13, 2009
Topics: Customer Experience, Technology
Tagged: , ,

With consumer confidence at an all time low, there absolutely has to be a focus on first-rate customer service, maintenance won’t be enough. Consumers are looking for great service and a bank they can trust. That means banks need to ensure they are doing all they can to keep the customers they have happy in… Continue reading →

Mobile Phones: The New Credit Cards? How Mpayments Could Replace Lost Revenue

Eric Lindeen
By:  Eric Lindeen
On: September 13, 2009
Topics: Customer Experience, Technology, Trends
Tagged: , , ,

With the passage of the recent Credit Card Accountability, Responsibility, and Disclose Act (C.A.R.D. Act), the once thriving trillion-dollar credit card industry is now looking like a barren wasteland, for consumers and for financial institutions (FIs). Gone are the days of easy credit and rewards programs, replaced instead with an era where “card” is the… Continue reading →

Technology: The Silver Lining in the Banking Crisis Series – Cost Reduction

Tom Johnson
By:  Tom Johnson
On: September 8, 2009
Topics: Operational Efficiency, Technology
Tagged: , , , ,

My first point here is that banks are not IT shops and should not try to be. They need to focus on their core capabilities and the things that differentiate themselves in the market. With new regulatory pressures projected to consume the majority of banks’ already diminished IT capabilities (I’m sure most of you have… Continue reading →

Technology: The Silver Lining in the Banking Crisis – Introduction

Tom Johnson
By:  Tom Johnson
On: August 11, 2009
Topics: Technology
Tagged: , , ,

Everyone knows the banking sector is in absolute chaos. But these challenging times bring great opportunity. In particular, automation and business practices once held captive by banking silos and politics can now be reviewed objectively. Massive IT layoffs and changing regulatory requirements have prompted a second look at legacy technology systems, opening the door to… Continue reading →

Legislation Affecting Industrial Loan Companies and Retail Credit

Dennis Dixon
By:  Dennis Dixon
On: July 21, 2009
Topics: Regulations
Tagged: ,

There has been a great deal of commentary lately about the fate of retail creditors and industrial loan companies in the legislative battle over control of our financial system. Recently I expressed my opinion in American Banker Viewpoints on how this may affect retail lenders. My submission from July 8, 2009 is posted here and… Continue reading →

UDAP (Unfair or Deceptive Acts and Practices): Is Your IT Shop Prepared?

Dennis Dixon
By:  Dennis Dixon
On: June 9, 2009
Topics: Regulations, Technology
Tagged: , ,

The industry buzz is that it is going to take some issuers 70–80 percent of their IT capacity to manage the new credit card regulations. That is an alarming statistic, but what exactly does it mean and how is it going to impact card issuers from a technology resources point of view?

Way back when in… Continue reading →

A Closer Look At The Implications of UDAP

Eric Lindeen
By:  Eric Lindeen
On: June 6, 2009
Topics: Customer Acquisition and Retention, Regulations
Tagged: , , ,

The credit card legislation currently under consideration includes a great many elements that are focused on improving consumer protections. Among the changes that are most likely to impact lenders are the clarifications to UDAP (aka unfair or deceptive acts and practices). Of particular interest to lenders who utilize prescreen or pre-approved offers is a proposed… Continue reading →