The Pros and Cons of Relationship Pricing
The Pros and Cons of Relationship Pricing
Posted by Haley Locklier on Mar 12, 2019
What are potential high value customers looking for when choosing a financial institution that will best suit their needs? Or what promotes customer loyalty? Offers, Rewards and Perks. In other words, relationship pricing, which is a pricing and ...
Banking Trends: What Products and Services are on the Rise, and which are Declining?
Posted by Steve DiLoreto on Feb 12, 2019
The relationship between the banking industry and consumers is ever changing, and for decades, banking was a fairly straightforward task. Customers would visit a branch to make deposits, open or close accounts, apply for loans, or withdraw or ...
The Pros and Cons of Reward Checking and Relationship Packaging
Posted by Tommy Adams on Jan 29, 2019
All banks and credit unions face the difficult task of attracting new customers and deposits, and growing these relationships in today’s competitive banking environment. There are many ways used to grow deposits and accountholder relationships that ...
The Ethical Conflict that is Continuous Day Overdraft
Posted by Cameron Loughery on Dec 18, 2018
It’s reported that customers paid more than $34 billion in overdraft fees last year, which is the most since 2009. Numbers like this are the reason why a financial institution’s overdraft practices are closely evaluated by the Consumer Financial ...
Retail Banking Trends – Financial Education as a Marketing Tool
Posted by Matt McCall on Nov 20, 2018
Throughout the past few years, financial institutions (FIs) have adjusted their marketing practices in order to keep pace with digital innovation. Competition is now prevalent not only with the bank down the street, but with any viable FI with an ...
Find and Solve the Cause of Revenue Leakage
Posted by Cameron Loughery on Nov 13, 2018
For banks and credit unions the source of revenue leakage is typically waived and refunded fees. Most organizations realize customer service and frontline staff attempt to put the customer first, and as a result waived and refunded fees happen. It’s ...
The Pros and Cons of Using Third Parties
Posted by Joe Wilson on Oct 23, 2018
No matter the business, every leadership team is inevitably faced with a variety of special projects, and the decision on whether to hire a third party or take on the project internally is a reoccurring decision it has to make. I’m here to help with ...
Technology for Banking in 2018
Posted by Steve Sharp on Oct 16, 2018
The way customers choose to interact with businesses is changing, and financial institutions are no exception to this trend. Today, banks and credit unions must confront the competitive pressure created by fintechs, and manage rising customer ...
How does Bank Consolidation Impact Product Pricing?
Posted by Tommy Adams on Oct 2, 2018
Consolidation is prominent in the banking sector, demonstrated by an accelerated rate of acquisitions over the last few decades. The number of U.S. chartered commercial banks has fallen from 14,250 in 1986, to 8,460 in 2000, to now approximately ...
Non-Interest Income, More than Courtesy Overdraft
Posted by The Mad Banker on Sep 25, 2018
Non-interest income is increasingly important for community banks and credit unions, despite being a much smaller proportion of total revenue compared to interest income. Financial institutions (FIs) rely on non-interest income for everything from ...
How CECL Impacts the Financial Industry
Posted by John Mateker on Aug 21, 2018
Financial Institutions (FIs) have accounted for loan losses the same way for 40 years by using the “incurred loss” model. In the near future (2019 or 2020), FIs will change their loan loss accounting methodology to an “expected loss” model. The ...
The Staffing Conundrum
Posted by Mike Emmons on Aug 14, 2018
A popular theory has suggested that traditional branch locations will be completely eliminated once mobile and online channels allow for customers to complete all financial service needs and transactions. Despite this theory, community bank and ...