Leading Topics
- Trends (42)
- Customer Acquisition and Retention (42)
- Customer Experience (41)
- Technology (33)
- Account Opening (29)
Keyword Tag Cloud
Alternative Data Analytic Models Automation Branch Banking Cost Reduction Credit Card Credit Card Regulations Credit Risk Policy Cross-sell Customer Intimacy Customer Service debit card Decisioning Demand Deposit Account Durbin Amendment Financial Crisis Fraud Generation Y Innovation Instant Prescreen IT Investment Lifestyle Banking Loan Origination System Mobile Banking Online Banking Reputation Management Risk Management Transparency Trust UnderbankedBlogs We Love
Archives
Yearly Archives: 2011
Happy New Year!
Topics: Uncategorized
Tagged: Holiday Greeting
We would like to wish all of our colleagues, clients, friends, and blog readers a very happy and prosperous new year! Regular posts will resume next week.
“Spring Bridgers” Allison McGree, www.zootartgallery.com, Zoot Art Gallery 2012
Where do Financial Products fit in our Hierarchy of Needs?
Topics: Trends
Tagged: Auto Loan, Credit Card, Financial Crisis, Maslow's Hierarchy, Mortgage
According to analysts at TransUnion, the recent trend of consumers prioritizing their credit card bills over their mortgage payments is likely to continue for the foreseeable future. In this blog post I would like to examine this trend by comparing it to Maslow’s hierarchy of needs.
Up until 2008, consumers tended to focus on their payments… Continue reading →
Can Mobile be a Disruptive Innovation?
Topics: Customer Experience, Technology, Trends
Tagged: Mobile Banking
There are two fundamental types of innovation; incremental innovation and radical innovation. Incremental innovation is the improvement of existing products and processes in a linear fashion. Radical innovation is the creation of entirely new products or processes. Neither type of innovation is more important or necessarily more profitable than the other. Ford Motor Company made… Continue reading →
Fraud on the Attack: Mobile Channel
Topics: Fraud, Technology, Trends
Tagged: Fraud, Mobile Banking
In my previous blog on fraud, I spoke of ID theft in general terms and the notion of an enterprise strategy to combat fraudsters regardless of product and channel. I’d like to further investigate the channel piece of this discussion as it relates to mobile fraud.
Mobile applications are on the rise. According to a… Continue reading →
Profitability vs. Transparency: The Future of DDAs
Topics: Account Opening
Tagged: Demand Deposit Account, Online Banking, Transparency
It is that time of year again for open enrollment in my company’s health insurance plan. As I sift through all the information about the new plan and forms to complete, I realize how much I hate dealing with insurance. I’m fortunate to work for a company that makes it as easy as possible and… Continue reading →
Turning a Threat into a Promise: Regaining Profitability for Checking Accounts
Topics: Account Opening, Customer Acquisition and Retention, Trends
Tagged: Alternative Data, Demand Deposit Account, Durbin Amendment
Recently Zoot’s Tom Johnson and TowerGroup’s Nicole Sturgill, research director in the retail banking and cards practice, presented a webinar entitled “Checking Account Profitability: Turning a Threat into a Promise”. It was an event full of great insight on the state of demand deposit accounts and what some large institutions have done to remain profitable… Continue reading →
What will it take to get small business lending going?
Topics: Credit Risk Management, Customer Acquisition and Retention, Regulations, Trends
Tagged: Credit Risk Policy, Cross-sell, Financial Crisis, Risk Management, Trust
Banks today are suffering from an ancient predicament. The only people we want to lend to are those with no need for the money. The only people who seem interested in borrowing are poor risks. What’s a banker to do? Speaking with a banker recently about business lending, I was assured that ample funds are… Continue reading →
Thankful for Industry Challenges
Topics: Regulations, Trends
Tagged: Demand Deposit Account, Durbin Amendment, Financial Crisis, Trust
This is a week where we reflect on what we are thankful for. Daily headlines might suggest there isn’t a lot the banking world has to be thankful about, but I would disagree. 2011 has been a tough year for the financial industry, no doubt about it. Billions of dollars in revenue will be lost… Continue reading →
Well that didn’t work! What’s next for DDA and debit account fees?
Topics: Account Opening, Customer Acquisition and Retention
Tagged: Cost Reduction, Demand Deposit Account, Trust
Now that Bank of America has reversed its position on charging customers a fee for using their debit card and early adopters of monthly debit fees like SunTrust have also backed down, banks are left with the same question they started with. How can they bring profitability back to demand deposit accounts (DDAs)? Fortunately, while… Continue reading →
A Modest Proposal: Financial Literacy for the 21st Century
Topics: Trends
Tagged: Credit Education
Since the financial crisis, the idea of financial literacy has been a popular one. Teaching kids how to deal with money responsibly is an obvious response to a situation that was precipitated, in large part, by adults’ financially irresponsible behavior.
There is a recognized need for financial literacy to be incorporated directly into the core… Continue reading →