Credit Risk Policy
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Yearly Archives: 2012
“It’s not clear that NFC is the solution to any current problem.”
That’s a quote from Phil Schiller, the Senior Vice President of Worldwide Marketing at Apple. He said that in response to a question regarding the omission of near field communications (NFC) technology in the … Continue reading →
Michael Ruckman’s content in his recent column Experientially Engineering the Customer Relationship caught my attention (Ruckman is the president & CEO of a multi-national company focused on improving customer experiences and loyalty).
“The strength of customer relationships is much more dependent on the consistency of experiences … Continue reading →
I enjoy reading Andrew Kahr’s BankThink posts. Whether you agree with him or not, he is refreshingly honest not to mention entertaining. His latest post this week “Why Your Bank’s Customers Don’t Listen” is something that every company struggles to address. How do you reach your … Continue reading →
A slew of bad customer service experiences have left me wondering if providing great customer service is a thing of the past. Then a positive experience shows me it isn’t a lost cause. Some industries are often at the top of the bad offender list—airlines, cable … Continue reading →
Branch banking is dead.
I know that I have argued, on this very blog, that banks should still invest in branches, but that was before I heard about a new, disruptive innovation—Mailway Banking.
I can’t believe I hadn’t heard about this until now. I stumbled upon … Continue reading →
For a while, private label cards seemed to be the punch line for many jokes; Target wouldn’t be down 41% if they weren’t trying to be a bank. And yet, as seasons change so do the jokes. Today, they report higher-than-expected profitability in the credit card … Continue reading →
I was thrilled when I came across a recent article in BusinessWeek discussing banks’ search for new, “high-definition” credit scores. The idea of incorporating alternative data into lenders’ risk decisioning processes is one that has been picking up a lot momentum in the industry. Zoot has … Continue reading →
You’ve heard about the death of the checking account, the death of branch banking, and now, the death of credit cards? Well hear me out on this. The industry is heading towards a future where we make the ubiquitous credit card obsolete. Our current path is … Continue reading →
Lately I’ve noticed a change in the direct mail I receive from credit card companies. In the past they have arrived in my mailbox in a business size plain white envelope that included the credit card company’s logo and a short phrase touting the highlights of … Continue reading →
There is heavy competition in the credit card market today for the highest credit-quality customers—so much so that one industry CEO likened acquiring new customers to a knife fight. Rewards programs are heating up and marketing dollars are being heavily … Continue reading →