Articles by Ron Shevlin

Don't miss THE FINANCIAL BRAND FORUM, the biggest and best conference on marketing, CX, and digital growth strategies in the banking world — May 20-22, 2024. Join over 3,000 of banking's best and brightest for three days jam-packed with big ideas, latest trends, and groundbreaking innovations that are transforming the industry today. SIGN UP NOW.

PwC Data on Banking in 2020

PwC released an excellent report recently, titled Retail Banking 2020: Evolution or Revolution? Reading through the report triggered some thoughts:  PwC: Fewer than 20% of (banking) executives feel well-prepared for the future. My take: The other 80% told the truth. ———– PwC: 70% of global bank executives believe it is very important to consider how […]

The Myopia in the Banking Industry

In the annals of the Harvard Business Review, Marketing Myopia by former HBS prof Ted Levitt, is a classic. As HBR puts it, the article: “Introduced the question, “What business are you really in?” and with it the claim that, had railroad executives seen themselves as being in the transportation business rather than the railroad […]

Are Banks Really Digital Laggards?

Two recent tweets caught my attention: @Chris_Skinner: It’s not Branch versus Digital, but digitizing all channels including branch @gschmeltzer There is no head of digital at Amazon or Zappos – they ARE digital. Banks need to be, too. Both spot-on tweets. Ginger’s tweet, though, got me wondering: Exactly how digital (or not) are banks? A […]

Why Do Consumers Open Bank Accounts?

More goodies from the EY 2014 Global Consumer Banking Survey…. EY asked consumers who had opened and closed bank accounts in the prior 12 months what their reasons for doing so were. Here’s what EY found: My take: These aren’t the “reasons” why consumers opened accounts. The most prevalent (if not only) reason why consumers […]

Maybe The Experience Doesn't Matter (That Much)

EY (is it not called Ernst & Young anymore?) released its 2014 Global Consumer Banking Survey recently. For a better review of it than I’ll provide here, see the summary on The Financial Brand, or download the report directly. The report goes to some lengths to establish the connection between the level of trust consumers […]

Simple: In Name Only

Congrats to the Simple team on their sale to BBVA. But truth be told, I never was a big fan of what they were doing. Maybe that’s too strong a statement. It’s not that I wasn’t a “fan,” it’s that I didn’t buy into all the hype, all the talk about the NeoBank being “disruptive.” […]

Old-School Banking: There’s No Going Back

In an American Banker editorial titled A Return to Old-School Banking (part of a series the publication calls What Bank Customers Want), the author writes: “I prefer the old-fashioned banking model. I don’t care for mobile banking. I don’t own an iPhone. I like my BlackBerry and I’m fine banking in a physical branch. I […]

Credit Monitoring Is Not The Solution

In the wake of the Target data breach, the retailer announced that it would provide credit monitoring from Experian to the customers affected by the breach.  With the number of consumers impacted by the breach now at 70 million, Target might be wise to do two things: Just acquire Experian (or some other credit monitoring […]

BigDataDoofus Hunting

In my personal life, I’m not a hunter, but I have nothing against them. As long as you’re not the Vice President of the United States, and not shooting your friends on hunting trips, I don’t care what you do. But in my business life, I do like to go hunting. For fakes, phonies, scam […]

11 Rules For Becoming A Better Blogger

Published my first blog post seven years ago this week. Nearly 900 blog posts later, I think I know a thing or two about blogging (we all deceive ourselves in one way or another). If you want to become a better blogger: 1. Keep it short. When I first started blogging, somebody I know told […]

The Real Reason Why There Are Too Many Banks

When I read Matt Yglesias’ article in Slate on America’s Microbank Problem, it took me a minute, but I realized what it really was: A hack piece of journalism, written simply to call attention to the author and publication. Yglesia’s case to support his contentions was poorly argued. American Banker easily tore through the arguments […]

Is Bank Customer Service Really THAT Bad?

  Carlisle & Gallagher published research looking into consumers’ experiences, attitudes, and perceptions regarding banks’ customer service capabilities. Overall, an excellent study with solid data and sound conclusions.  The deck prepared by C&G is titled Are Two Calls Too Many in the Eyes of the Customer? reflecting the firm’s conclusion that first-call resolution is critical to […]

Debunking Financial Literacy Myths

The CFPB says that FIs spend US$17 billion on marketing and that just US$671 million, or about US$2 per person, is spent on financial education. And like uncritical, brain-dead slugs, many of you don’t just believe this, but tweet it, implying that the spending is out-of-whack. My take: Comparisons of financial education spending to FI marketing […]

Banks Need Leaders Who Get It (Done)

Ed O’Leary penned an interesting piece, published on the ABA Banking Journal site, titled Banks Need Leaders Who “Get It”. It deserves a full read, but the gist of the post is this: “For at least the remainder of the current decade, bank managers will have to develop survival strategies to steer their banks through […]

Coin And The TechCrunch Effect

  By now, you’ve heard of Coin, a programmable mag strip card that holds up to eight card details at a time, accessible via a button and miniature LED screen on the card. For anybody who has heard Dynamics present at the last 37 Finovate conferences, the concept isn’t anything new.  And for anybody involved in […]

Redefining Financial Inclusion

This is going to sound cold and heartless…but I’m tired of hearing about “financial inclusion.” As it pertains to the US, that is. Two reasons for my insouciance: 1) perspective, and 2) definition. ————— According to McKinsey, 8% of adults in high-income OECD countries are financially “excluded,” meaning that they don’t use “formal or semi-formal” financial services. […]

It’s Time To Kill The Net Promoter Score

Management ideas come and go.  Unless we’re talking about the net promoter score, which has come, but hasn’t left. It’s the cockroach of management metrics.  For the life of me, I can’t understand the continued interest in this metric, or as some delusional people call it, a system.  Intention to do anything — let alone […]

The Problem With Banking Experiences And Transformations

If you don’t know who Joe Pine is, shame on you. He wrote two of the best management books ever published, Mass Customization and The Experience Economy. Along with my praise, however, comes a little critique. He recently published a white paper titled Beyond Products and Services in Banking, in which he writes: “No industry […]

The Fed’s Mickey Mouse Market Research

If the title of this post is in any way demeaning or disparaging, I apologize. Mickey Mouse is way too important a cultural icon to be disrespected. The Federal Reserve, on the other hand, I’m not too sure about. It recently launched an effort to elicit feedback on how to improve the payments system, organized […]

Lessons For Banks From A Walmart CEO

At this year’s BAI Retail Delivery Conference, I had the opportunity to moderate a closed roundtable discussion of the Marketing Leaders Circle (thank you Deluxe!), and as an added bonus, got to interview Lee Scott, the former CEO of Walmart. As the session was a closed session for senior marketing execs from large FIs, it […]