Category : Industry News


  As more bank customers want digital apps that allow them to complete transactions from their mobile devices, banks should equally emphasize their personal touch and human factor. Financial institutions employing the most up­to­date technology can improve the efficiency of their operations. However, also stressing the human factor is more important than ever. Outstanding customer service, at the […]


  How profitable are your banking transactions? While the number of transactions is increasing at a steady rate for the modern bank, many of the transactions being carried out today are simply not profitable for the bank. The number of hidden costs associated with the transactions added to the overhead cost of facilitating those transacts eats the bank’s […]


  The Wall Street Journal headline reads “More Risky Loans Allowed.” It is a non­ subtle “shot” at Washington for eliminating the risk retention provision, once a primary component of the Dodd­-Frank Act, forcing mortgage lenders to retain, at least, a small percentage of every mortgage sold into the secondary market. The focus was to effectively prevent another […]


Millennials, those between the ages of 18 and 34, are a target market for a lot of banks. These are the consumers who have years of saving and investing ahead of them. Yet a recent report from USA Today found that these young adults, in spite of a financially responsible mindset, are finding it difficult to save […]


As banks face rising costs and less engagement within their branch locations, many are choosing to automate and eliminate paid possessions in order to cut costs and remain profitable. Yet there’s one potential downside of branch automation, and that is the fact that it can alienate customers. For the branch that needs to automate, these strategies will help […]


For the past few decades, technology has been as important a money to most banking institutions. Although previously lagging behind banks, credit unions also have placed a top priority on employing cutting­-edge technology to better compete with their bank siblings. In many ways, according the venerable Washington Post, financial institutions are becoming “quasi­-technology companies.” This reinvention involves multiple […]


Increased competition, new technology that is keeping customers out of the branch and increasing costs across the banking industry has increased the demand on sales professionals to do their jobs well in order for the bank to make a profit. Today’s bankers can do well by keeping some sales tactics in mind as they try to sell more […]


Since its birth in 2009, Bitcoin has begun changing the face of US and worldwide  finance. The banking community has differing views on its growing user numbers,  volatility and evolution of companies favoring Bitcoin. Although Bitcoin had little or no dollar value in the beginning, its value has increased since inception. Even global consulting firm Deloitte […]


  When it comes to managing relationships with vendors, too often businesses focus solely on getting the lowest price and neglect other actions that can help develop strong business relationships. While that may seem prudent from a short­term “bottom line” perspective over time it’s an approach that can backfire and wind up costing you more. Building strong vendor relationships […]


Capturing the Elusive Account Switcher        In the American banking market, customers have a high rate of switching accounts, seeking after new incentives or better offerings and leaving their current bank behind. How can your bank capture these customers and cause them to choose your bank, or, in the case of current customers, […]