Gen Y Financial Literacy: Problem Or Problem Solved?
The discussion of financial literacy and health is unproductive as long as we lack a quantifiable, objective, and agreed-upon approach to measuring it.
Banking Rebundled
Financial institutions will be the "attractors" of the future, rebundling an emerging set of banking services from a variety of providers.
What The 2015 Bank Customer Satisfaction Numbers Really Mean
JD Power released the first wave of its 2015 bank customer satisfaction research. My take: Big bank bashing is a thing of the past.
New Developments In PFM User Interface Design
In a world where firms are supposed to provide customized offerings, PFM design has been a one-size-fits-all world. But not for long.
Can Banks Charge For Mobile Banking?
Banks and credit unions may be overlooking an easy opportunity to generate additional revenue: Charging customers/members for using the FI's mobile banking app.
Financial Health Is The New Marketing
Grading and monitoring consumers' financial health will become the new marketing in financial services.
What’s The Better Metric: Customer Satisfaction Or Net Promoter Score?
Think you know which metric is best predictor of customer retention — satisfaction, NPS or and customer effort score? Here are the facts.
Is Marketing Analytics On The Buzzword Bingo Board?
Marketing analytics is more than just deploying some advanced statistical techniques, but many banks and credit unions lack the critical skills to execute.
What Will It Take To Get Americans To Save More?
There is no killer app to get Americans to save more. But banks are just not doing enough to help their customers manage their money.
Measuring Customer Loyalty In The 21st Century
Banks and credit unions need a new metric to gauge customer/member loyalty. Learn why the Referral Performance Score is superior to today's measures.
Frontlining: Getting The Right Data To The Right Channel
The front line in the banking industry ain't what it used to be. Today, the primary point of influence is increasingly in the digital channel.
Why Is Social Media Marketing Failing?
There are two predominant explanations for why social media marketing is failing in financial services: 1) poor execution, and 2) wrong strategic context.
The New Product Development Dilemma In Banking
Larger banks are too big to turn the ship in a timely fashion, and smaller banks have no one who knows how to turn the wheel.
What Does It Mean To Shop Around For Financial Products?
The CFPB reported that nearly half of borrowers do not shop for a mortgage. That would depend on how you define "shop for."
A Sales Culture Is Not The Answer in Banking
Why are banks and credit unions obsessed with "instilling a sales culture?" — that's the last thing they need. Here's why.
Mobile Apps Are The Branches Of The Future
Vernon Hill said "no one wants a relationship with a computer screen." That may be true, but no one wants a relationship with a brick either.
UBS On Apple Pay: Drinking The Merchant Kool-Aid
UBS recently published a report titled The Empire Strikes Back: Retailers and Banks to Join Forces as Alternative to Apple Pay in 2015. The report is so full of misguided misconceptions that, normally, I’d be inclined to think “Where did they come up with this stuff?” But in this case, I know where they came […]
A Lesson In Mobile Banking Economics
It doesn't matter how much less expensive mobile transactions are if they don't displace other channel transactions.
Riding The Waves Of The P2P Lending Market
Claims that Lending Club will "end banking as we know it" is ridiculous. Lending Club is niche in the lending market, a fringe player.
Does Your Bank Need A Chief Ethics Officer?
I don't know how to fix the "ethics" problem in banking. What I do know is that creating a Chief Ethics Officer position won't fix much.
The Future Is Bright For Digital Banks
Are digital banks — or neobanks — the next big thing? Can banking expect to see the trend grow or is it a one-hit-wonder?
The Non-Banks People Want To Bank With (Or Do They?)
Every once in a while, a consumer study is released whose findings are…well, let’s just say “hard to believe.” One of those studies crossed my desk this week. A survey of 3,800 Americans and Canadians revealed that 50% of respondents said that they would be likely to bank with Square if the company offered banking […]
