Credit Risk Policy
Demand Deposit Account
Topic Archives: Operational Efficiency
Insanity, it’s often said, is trying the same thing over and over and expecting a different result. Nowhere is this axiom truer in financial services than in the collections process.
The Right Treatment at the Right Time
The goal in collections is to efficiently deal with … Continue reading →
At Zoot, we frequently have discussions with financial institutions (FIs) on the virtues of automation. All of Zoot’s solutions are focused on making business processes as automated and data-driven as possible. However, the decision to automate a business process—like the process of originating a loan—is never … Continue reading →
Bankers are trying to find the right balance for their business, but it can be difficult, especially when working with a legacy loan origination system (LOS). Many think they need to sacrifice efficiency to improve customer service. With a modern LOS they can have both—no sacrifices … Continue reading →
You’ve heard the term cornerstone before, right? The word comes from the concept of setting the first stone in the construction of a masonry foundation. It is the most important “brick” since it is the reference by which all other bricks will be set for the … Continue reading →
In 1806, at the Battle of Jena-Auerstedt, the Prussian Army got crushed by Napoleon. Using carefully planned and flexible troop dispositions, Napoleon was able to run circles around the slower Prussians. As a result, the French were able to deal a critical blow to the Kingdom … Continue reading →
Perhaps the most perplexing question facing bankers who desire to serve the underbanked consumers is what products would actually meet their needs. Fortunately, research on this topic is already being done and it has been proved that mainstream banks can successfully and profitably offer appealing products … Continue reading →
The following is a synopsis of a presentation from the CFSI Underbanked Financial Services Forum. I wanted to share these insights with you because I believe many financial institutions could benefit from expanding their offering in a similar way.
George Hodges of New Market Partners reported … Continue reading →
Two common themes I’ve heard from bankers are that there is a lack of innovation in financial services and that banks already provide all of the products consumers need. In this column, I will argue that neither of these claims is true. There are clear needs … Continue reading →
My last blog post focused on creating a retail experience that drives customer loyalty beyond rewards. The bottom line is that knowing what is important to your customers and responding to their needs is better than surpasses simply offering a rewards card when it comes to … Continue reading →
The debate over bank channels has reached an interesting place. Depending on whom you ask, branch banking is either a relic of a time gone by or an invaluable component of a successful retail banking strategy. The truth, as usual, is somewhere in between these extremes.… Continue reading →