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- Trends (42)
- Customer Acquisition and Retention (42)
- Customer Experience (41)
- Technology (33)
- Account Opening (29)
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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
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Tag Archives: Generation Y
Your data is not as safe as you think it is
Topics: Credit Risk Management, Fraud, Technology, Trends
Tagged: Fraud, Generation Y, IT Investment, Reputation Management, Risk Management, Trust
I attended a presentation by Kevin Mitnick, a well-known computer hacker turned security expert, last week. While the hacks and exploits he described may not be news to those in info security, I was personally surprised at both the ease and effectiveness of current hacking techniques. In his presentation, he ran a live demo demonstrating… Continue reading →
Do your customers trust you? It may be more important than you think.
Topics: Customer Acquisition and Retention, Trends
Tagged: Customer Service, Generation Y, Lifestyle Banking, Transparency, Trust
There are two ways consumers buy financial services; as a commodity and as a relationship. As a commodity, we are forced to offer the lowest price, or at least the lowest effective price when considering the utility of convenience. As a relationship, consumers are willing to pay a premium, or at least a higher margin… 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 →
The Difference between Free Checking and a Demand Deposit Account
Topics: Customer Experience, Trends
Tagged: Cost Reduction, Cross-sell, Customer Service, Demand Deposit Account, Generation Y
Since the Reg E restrictions on overdraft were announced, speculation has run rampant about the future of free checking—in fact, the future of all DDA accounts. Many speculate that free checking will end, although David Kerstein of Peak Performance Consulting, noted early on that bankers are convinced that everyone else will eliminate free checking, but… Continue reading →
Why I Love Branch Banking
Topics: Customer Experience, Technology, Trends
Tagged: Branch Banking, Generation Y, Mobile Banking, Trust
I am 23 years old, I work in online marketing, and I love branch banking. Those three statements don’t fit together, I know. Given my age and occupation, I should loath branch banking. I should find it a complete waste of time. I should be hoping that advances in mobile banking like Remote Deposit Capture… Continue reading →
Death of the Check?
Topics: Customer Experience, Trends
Tagged: Customer Service, Demand Deposit Account, Generation Y, Lifestyle Banking, Online Banking
We’ve been told for years that the check is nearly dead. As check clearing volume continues to plummet, this seems like a reasonable claim, yet we never seem to get there. For the mathematicians, it’s like an asymptote—no matter how long you wait, it will never actually reach zero.
A good friend of mine (in her… Continue reading →
Underbanked IS the Market: Gen Y Changes the Rules
Topics: Customer Acquisition and Retention, Customer Experience, Trends
Tagged: Generation Y, Lifestyle Banking, Trust, Underbanked
It just occurred to me that a curious shift has happened in the under-banked market. My employer, Zoot Enterprises, has supported lenders in the under-banked market for some time. Part of our value to our clients is that we provide streamlined connectivity to alternative data sources, often to help lenders approve credit for unbanked and… Continue reading →