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Compared to peers, Canadian P2P has conservative image

This past week saw the launch of not one, but two peer-to-peer lenders. The first, IOU Central, introduced Canadians toP2P lending with a conservative look compared to its U.S. peers. The website features images of folks who are arguably more mature than the stereotypical Gen-Y audience commonly — but not always accurately — associated with […]

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Website domains available one minute, registered the next

Confusion looms over suspicious domain name practice “Front running.” “Kiting.” “Domain tasting.” Maybe you’ve never heard of these terms, but they are central to a controversial new practice by Network Solutions. Here’s what’s happening. It seems that now, when a customer searches for an available domain name at Network Solutions but decides not to purchase […]

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Debunking Marketing Myths: Single View Of A Customer

How many times have you heard that marketers need a “single view of the customer”? A Google search on the term turns up 46 million links including: “You and everyone else in your organization want to know everything possible about your customers. You want a single view of the customer that everyone across the enterprise […]

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Find A Better Bank (Dot Com)

I recently had a chance to catch up with a former colleague of mine, who’s now CEO of Facilitas, which recently launched findabetterbank.com. It’s a pretty nifty tool. It walks the user through a five-step process, asking about location, types of accounts/banks to include (e.g., Internet-only, student accounts), account feature preferences, and fee preferences. The […]

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You Cannot Advertise Your Way To Greatness

In a recent article published in one of those advertising industry publications, the CMO of a rather large bank was quoted as saying: We want to become an iconic brand that people love.” And I want to be the starting quarterback of the New England Patriots and have beautiful models throw themselves at me. And […]

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Executives From Lake Wobegon

Garrison Keillor describes Lake Wobegon as a place where “all the children are above average.” According to a recent study from Bain, it looks like a lot of execs are from Lake Wobegon. As reported on Chief Executive: 80 percent of companies surveyed believe they deliver a ‘superior experience’ to their customers.” Man, would I […]

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9 Points About Financial Branding

In the January 2008 edition of Credit Union Business magazine, correspondent Lin Grensing-Pophal writes that the “small town, homey brands” many credit unions have simply doesn’t cut it when expanding into business services. In the article, Michael Poulos, president and CEO of Michigan First CU, agrees. He says that businesses are looking for people who […]

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Marketing Math 101, Volume 2

It’s been a while since I made fun of the silly math tricks that marketers play. It’s time to revisit the subject and found an example in a print ad from Allstate. The headline of the ad asks “How long of a retirement should you plan for?” (The italics are shown as they are in […]

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Omaha Bank’s New Branch Concept Includes ‘Virtual Koi Pond’

First National Bank of Omaha has unveiled a new retail prototype at its new Shadow Lake Towne Center branch. Features include a “virtual Koi pond” that directs customers to interactive kiosks where they can conduct transactions or get information on products and services. The interactive floor display seems to be based off of technology from […]

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Would You Prefer A Relationship With A Ton Of Bricks?

Vernon Hill, former CEO of Commerce Bank, recently joined Tom Brown as co-chairman of bankstocks.com. Mr. Hill has wasted no time, and has already contributed content to the site. He recently wrote: BANK BRANCHES OBSOLETE? NONSENSE: My colleague Matt Stichnoth posted a comment about the upcoming death of bank branches — this time due to […]

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Why Developing Customer Relationships Is So Hard

The Harvard Business Review recently interviewed psychologist John Gottman, the executive director of the Relationship Research Institute in Seattle. Although Gottman’s work focuses mostly on interpersonal relationship (in contrast to business-customer relationships), many of his comments are pertinent to marketers. According to Gottman: “Good relationships aren’t about clear communication — they’re about small moments of […]

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Customers to have say in new name for Wauwatosa Bank

Wauwatosa Bank is inviting its customers to visit branches and vote for their favorite name from three options: ‘Granite Bank,’ ‘WaterStone Bank’ or ‘Security First Bank.’ People also can submit other names by writing suggestions on their ballots. Each ballot cast is an entry into a drawing with prizes worth a total of $3,000. Four […]

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The Disingenuous Marketing Of P2P Lending Sites

Ponder the following question: Entity A lends $10,000 to Johnny Jones at a rate of 6%. Entity B lends $10,000 to Johnny Jones at a rate of 6%. Which entity made the socially rewarding loan? Well, if Entity A was Johnny’s neighbor Billy Smith, and Entity B was the bank down the street — let’s […]

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Wachovia Ties New Automatic Savings Product to Debits

Wachovia is making it easier to save money with an automatic savings system similar to Bank of America’s “Keep the Change” program. Way2Save transfers $1 from a customer’s Wachovia checking account into a new, special Way2Save savings account each time he/she makes a purchase with his/her Check Card or makes a payment via an online […]

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Credit union video contest for $2,000 scholarship

As financial institutions across the country make announcements about their 2008 scholarship initiatives, Tinker Federal Credit Union is taking a unique approach by having an online video contest. The concept is simple: Think about what money means to you. Show us any way you want in a video you make yourself. Upload your video for […]

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If I Ran Twitter

If I ran Twitter, the prompt wouldn’t be “What are you doing?” Because, honestly, and with no offense to my Twitter friends, I don’t care what they’re doing. I don’t care that they’re at a Starbucks working, I don’t care that they’re eating oatmeal for breakfast, I don’t care that they’re at an airport, I […]

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Off-Topic: On A Personal Note

On a personal note, I’m no longer with Epsilon. What it means: If you’ve been communicating with me using my Epsilon email address, please use the email address listed on the About page. If you know of any companies that could utilize my skills and talents, please let me know. If you have any idea […]

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‘Green’ call center credited for 43% reduction in turnover

Navy Federal Credit Union is attributing its ‘green’ corporate campus for dropping employee turnover from 60% annually to 17%, a 43% reduction. According to an article on the new space, Navy Federal stumbled onto sustainable architecture in an attempt to improve the work environment for employees. Ebb Ebbesen, SVP of construction and process improvements at […]

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New Logo For Delta Community CU

In the Credit Union Times, Mary Olson, vice president of marketing of the $2.5 billion credit union said, “With this mark, Delta Community acknowledges the origins of flight but also looks ahead to the possibility and progress that flight represents.”Other rationale for the logo includes: The green represents the communities the credit union serves, and […]

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Datahead: Facts on TV and online financial ads

A study by Bigresearch says this is what people do when TV commercials come on: 41.2% of viewers take a peak at what’s on other channels 33.5% talk with others in the room or by phone 30.2% mentally tune out 5.5% pay attention to commercials TV’s influence on consumers to purchase products declined, whereas new […]

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