Relationship Banking with a Personal Touch
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...
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Do your customers trust you? It may be more important than you think.
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...
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Your data is not as safe as you think it is
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...
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What are Alternative Financial Services?
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...
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What are underbanked consumers looking for?
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...
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What Products Could My Bank Offer to the Underbanked?
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...
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Branch Banking is Dead…Long Live Mailway Banking
Branch banking is dead. I know that I have argued, on this very blog, that banks should still invest in branches, but that was before I heard about a new, disruptive innovation—Mailway Banking. I can’t...
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CFSI Underbanked Forum Pushes New Ideas for Banks
Raj Date made a big impact at the CFSI Underbanked Forum this month. Although no longer with the CFPB, his dynamic presentation challenged banks to do more and do better at serving consumers who don’t...
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Mobile Banking: Changing Minds…And Business Models
I have to come clean. I’m a member of Generation Y and up to this point I have also been a staunch defender of branches in the great branch vs. mobile debate. I know this makes me a traitor to my...
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Tapping the Economic Value of Millennials Begins Now
Nowadays you can’t go anywhere without seeing people focused on electronic devices. From the corner coffee shop to the beach people are texting, taking photos, reading books and even paying bills on...
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