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
Tag Archives: Credit Card
Bringing ROI back to Originating Private Label Credit Card Accounts
Topics: Account Opening, Operational Efficiency
Tagged: Automation, Cost Reduction, Credit Card
Private label credit card originators face a challenge. They manage credit card portfolios that must meet overall risk management goals, yet each brand in their portfolio has unique requirements for interfaces and credit risk. Only a few labels generate enough volume to justify purchasing an independent account origination system. As a result, it seems that… Continue reading →
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 →
A Tale of Two Banks: Breaking into the Underbanked Market
Topics: Account Opening, Customer Acquisition and Retention
Tagged: Alternative Data, Automation, Credit Card, Underbanked
Financial industry experts love to talk about the underbanked consumer population. It’s a great opportunity for banks to acquire new accounts! It’s an untapped oil well of 43 million profitable customers!
The truth, as always, is more complicated. The reality is that most underbanked consumers are underbanked for a variety of good reasons. They might… Continue reading →
One Card to Rule Them All
Topics: Customer Acquisition and Retention, Trends
Tagged: Credit Card, Customer Service, Financial Crisis
Recently, a large financial institution (FI) introduced a new card product— the first combo credit/debit card in the U.S. This dual card product is touted as giving consumers more choices at the point of sale. If they want to pay for their purchase directly from their deposit account, the consumer simply selects the debit option… Continue reading →
Is product bundling enough to deliver on the promise of relationship banking?
Topics: Customer Acquisition and Retention, Customer Experience
Tagged: Credit Card, Cross-sell, Customer Intimacy, debit card, Decisioning
Relationship banking is becoming a popular topic in recent months. As institutions struggle to improve profitability and reduce expenses, the promise of deeper wallet share and stronger relationships is more appealing than ever. Many large institutions have offered product bundling as an approach to relationship banking for years. As banks now respond to the loss… Continue reading →
Relationship Banking with a Personal Touch
Topics: Customer Acquisition and Retention, Customer Experience
Tagged: Credit Card, Cross-sell, Customer Intimacy, Demand Deposit Account, Generation Y
Over the years I’ve discussed relationship banking with many bankers. The community bankers brag about their ability to truly know their customers and the money center banks brag about their ability to use analytics to understand behaviors better than their customers. Of course, all bankers are more than willing to admit that for all their… Continue reading →
Will the Girl Scouts Save the Card industry?
Topics: Customer Experience, Technology, Trends
Tagged: Credit Card, Generation Y, Lifestyle Banking, Mobile Banking
For years, the card space has been stagnant. Alternative payment networks continue to innovate and make P2P and micro-business payments more affordable, but the best innovation from the card networks was richer rewards. These were good for the issuers in the short term, but they tipped the scales for merchants who no longer believed the… Continue reading →
Mobile Phones: The New Credit Cards? How Mpayments Could Replace Lost Revenue
Topics: Customer Experience, Technology, Trends
Tagged: CARD Act, Credit Card, Mobile Banking, Underbanked
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 →