Search Results: account opening

5 Ideas to Fix the Ugly in Overdraft Fees

Subscribe to The Financial Brand via email for FREE!Overdraft fees are a prickly subject. Consumers complain about them constantly, and now more than ever, it seems they’re doing so with unregulated vehemence. On the other hand, financial institutions rely on fee income — it’s how they make money on deposits — now more than ever.. Read More

Three Years’ Results in Two Days

Subscribe to The Financial Brand via email for FREE!How does $35 million in deposits and 800 new members sound? That’s what Advantis Credit Union just did… in two days. A recent grand opening sales event helped fuel one of the best first quarters ever for Advantis, with membership swelling by more than 4,000 in just. Read More

No TARP Money? You Should Be Thrilled

Subscribe to The Financial Brand via email for FREE!At last count, 315 different financial institutions had received over $300 billion in TARP money. If you’re one of the thousands of other financial institutions that didn’t get a slice of bailout pie, you should be grateful. Why? Because when you take money from taxpayers, you can. Read More

See Barclays Bank of the Future… It’s Here Now

Subscribe to The Financial Brand via email for FREE! Barclays has opened a new flagship branch at Piccadilly Circus in London. The bank describes the project as “the first ‘brand concept’ branch in the UK,” covering 8,000 square feet of retail space over three floors. “We have taken inspiration from retailers such as Apple and. Read More

2 Banks Thwart 1 Robber Using Great Service

Subscribe to The Financial Brand via email for FREE! The would-be thief in this FBI image is a suspect in several bank robberies. The employees working in a Seattle branch of First Mutual Bank recognized the man immediately. They’d seen his photo on a flier from the FBI and knew he was a suspect in. Read More

Harris Bank Says It’s ‘Here to Help’

Subscribe to The Financial Brand via email for FREE!Harris Bank recently unveiled a new branding campaign to drive home the bank’s “here to help” message, a slogan the bank has used for the past two years. Harris expects to reach 95 percent of its core audience — millions of people across the Chicago area —. Read More

Aussie Brokerage Rocks the Beatles With Slick Marketing

CommSec claims to be the first and only financial institution enabling Australians to access both cash and investment accounts with a single login view. A slick microsite provides an overview of the service, while TV spots and big giveaways also support the new account. Read More

Bank Satisfaction: Up Or Down?

American Banker reported on JD Power’s 2008 Retail Banking Satisfaction Study, which surveyed more than 19,000 people in January of this year. According to the article: “Rising fees and poor complaint resolution were people’s chief gripes in a retail banking customer satisfaction survey that gave the industry poorer grades than a year ago.” Sounds reasonable.. Read More

Why No One Cares About Gen X

Subscribe to The Financial Brand via email for FREE!Financial institutions are falling all over each other trying to attract Gen-Y consumers. But what about Gen X? It doesn’t seem like financial institutions care all that much about Gen X. Why is that? Here’s the explanation. Gen Y represents the future — the highly-coveted credit-driven market.. Read More

What’s Stunting Credit Union Membership Growth?

A Credit Union Times article about credit union growth challenges notes that although about 20% of credit unions now have a community charter, the majority aren’t growing their membership ranks. Mark Weber (it lists his name as Frank, but I have inside info that it’s really Mark) of Weber Marketing said: “If good service were. Read More

Let IT Own The Customers

A bank CIO was recently quoted in an industry publication as saying: “The customers really belong to the IT department once the salespeople are done opening accounts for them.” My first reaction was that this might just be one of the stupidest things I heard all week. But on further thought, I’m not so sure. Read More

Is Your CRM Strategy Helping Or Hurting?

Matt White, writing on Finextra, shares Turkish bank Garenti’s CRM strategy: If you go into their branches you have to swipe your bank card receive a ticket, and wait to be called. But not all tickets are equal. High income ‘superstars’ get seen within five minutes, the pretty well off have to wait a bit. Read More

Banks (And Credit Unions) Have To Earn The Right To Cross-Sell

Subscribe to The Financial Brand via email for FREE!If you’re a bank marketer, what can you do to improve your cross-selling success? The answer, although easier said than done, is still ignored by most firms: Engage your customers before cross-selling them. On the Verity Credit Union blog, Joe wrote (with some editing on my part):. Read More

Stop Investing In Customer Retention

Subscribe to The Financial Brand via email for FREE!Target Marketing reported recently that marketers plan to shift their 2007 media budgets from customer acquisition to customer retention, relative to what they did in 2006. If this is true for bank marketers, it’s a troubling statistic for two reasons. First of all, media spending isn’t going. Read More