Leading Topics
- Trends (42)
- Customer Acquisition and Retention (42)
- Customer Experience (41)
- Technology (33)
- Account Opening (29)
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Tag Archives: Financial Crisis
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 →
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 →
Gaining Perspective from Transformational Leader President Clinton
Topics: Trends
Tagged: Financial Crisis
President Clinton recently gave a keynote speech at a financial industry conference in Chicago. It was incredibly inspiring particularly given this time of constant change and despair in financial services. Every day there is a new headline that bashes banks for something. Most recently it is for charging fees for what customers used to get… 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 →
What Can Bankers Learn from Hamlet?
Topics: Account Opening, Technology
Tagged: Demand Deposit Account, Financial Crisis, Lifestyle Banking
The time is out of joint: O cursed spite,
That ever I was born to set it right!
Hamlet Act 1, Scene 5
Shakespeare’s Hamlet is one of the most famous plays in the English language. It is read, performed and discussed, seemingly without limit. At the center of the discussion is an unresolved… Continue reading →
It’s a Great Time to be a Credit Risk Officer
Topics: Credit Risk Management, Trends
Tagged: Financial Crisis, IT Investment, Risk Management
This feels like the worst advice ever. After the last three years of massive loan defaults and bank failures, nobody would say banks and other financial institutions have done a good job of evaluating risk. The public’s opinion of banks and credit risk officers may be as low as it has ever been. And, the… Continue reading →
Technology: Hero or Villain?
Topics: Technology
Tagged: Automation, Financial Crisis, IT Investment
Recently American Banker and BTN picked up my editorial about getting back to business through intelligent IT investment. I’d like to share my take on technology as a hero or villain and get your perspective…
At a time when expense management, client acquisition and retention and risk management are crucial to not only success, but… Continue reading →