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The advent of generative artificial intelligence is about to shift branchstrategy again to re-raise the question – how can we get the most out of our branches? Likely, it might be a combination of the above, but setting a branchingstrategy should dictate capital allocation, branch layout, marketing, and staffing.
The time is right to leverage the experiences of the past few months to make significant and sustainable changes to the branch environment. The post When Will RetailBanking Return to ‘Normal’? appeared first on ABA Banking Journal.
Fallout from recent global events presents an obstacle to generating revenue for communitybanks. As we enter budgeting season, the answers might be found in a mix of strategies. It’s certainly an interesting time to be a communitybank, but there are still plenty of ways to make efficiencies with an eye on profitability. ?
With financial hardship, competition from dominant players, and a startup budget, Gentle Monster faced many of the same challenges as a communitybank. How Banks Can Leverage: Niche markets abound in banking, and communitybanks are in the perfect position to create a following on a national level should they desire.
Customer contact centers are reshaping retail service for the technology age. Increasingly, more digitally connected consumers are saying yes to that question with their communitybank. Some even assume their bank will interact with them however and whenever they want. Bob Meara, retailbanking expert.
This article How a $1 Billion CommunityBank Outperforms Industry Giants appeared first on The Financial Brand. Webster Five's retailbanking chief shares how smaller banks can leverage technology partnerships and community focus to compete effectively with larger institutions.
Customer satisfaction with retailbankbranches is much higher than average when banks deliver the fundamentals of customer service, according to a new bank customer satisfaction survey by J.D.
CenterState in Florida and Union Savings in Connecticut are adding specialists to their retail locations at a time when many other banks are cutting back or have been relying heavily on universal bankers.
Partnering with a regional healthcare provider, Five Star Bank is looking to become a ‘solution center for the community.’ The post Branching out into telehealth appeared first on ABA Banking Journal.
Under pressure from regulators and consumer advocates, brick-and-mortar banks are now offering overdraft-free accounts. But online-only and communitybanks still have them beat as the type and number of fees associated with big-bank checking have multiplied.
Executives at several minority-owned communitybanks nationwide, including OneUnited Bank in Boston and Carver Federal Savings Bank in New York, say they have received a windfall of deposits in recent weeks, coinciding with the introduction of the Black Money Matters Project.
JPMorgan posted strong gains in consumer deposits and mobile users, and other big banks are expected to do the same. It could be a sign that megabanks are indeed stealing market share from regional and communitybanks.
The co-working site and full-service branch will host free networking events and programming throughout the year designed to help local businesses The post Santander Bank’s commitment to innovation boosts a neighborhood appeared first on ABA Banking Journal.
As the banking environment demands a different skill set for those operating leaner branch networks, institutions should look at tellers as a longer-term human resource with growth potential.
The post Listening to the community: Creating a branch inspired by heritage and local connections appeared first on ABA Banking Journal. As proud of our past as we are, our vision is to the future.'
The inconsistency between what millennials say on surveys and their actual behavior should make bank marketers skeptical about building programs around such research.
Is your bank effectively mitigating the risk of 'managing to metrics'? The phony-account scandal at Wells Fargo illustrates how sales quotas can incent bad behavior. Or could it be in danger of becoming a 'cargo cult'?
The company, which has closed a fifth of its branches in recent years, hopes underbanked clients will boost traffic at its remaining locations. TCF Financial in Minnesota has launched a set of products targeting low-income customers.
Record deposit growth, improved expense management and strong revenue gains from mortgage banking boosted Umpqua Holdings’ profits in the third quarter.
At a time when individual accountability at corporations is mounting, here is how compliance officers can detect and prevent fraud occurrences within their own firms.
The focus of banks' sales practices should be less about unit-based incentives, and more about developing a full relationship with customers and doing what's in their best interest.
In his 22 years, he built Umpqua from a sleepy local bank into a regional powerhouse and internationally recognized brand. Ray Davis is stepping down as Umpqua's CEO at yearend and transitioning to a new role as head of its year-old innovation lab.
Belmont Savings in Massachusetts isn't trying to fire or replace its employees who work the phones pursuing sales leads, but it has made some technological investments to get more out of them.
Banks should focus on strategies to ensure their sales incentives programs actually help drive profits. Otherwise, their rewards programs are at risk of adding zero benefit to their bottom line.
has rebranded its banking unit to reflect its expansion beyond the Tarheel State. billion-asset company said in a press release Tuesday that Bank of North Carolina is now BNC Bank. BNC Bancorp in High Point, N.C.,
The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.
About two-thirds of banks that close branches will lose deposit share in their impacted markets in time. Here's how to prevent customers from leaving your bank.
is planning to shutter 16 branches in connection with its acquisition of Standard Bancshares in Hickory Hill, Ill. First Midwest Bancorp in Itasca, Ill.,
The scorcher at Wells is giving some community bankers an opening to differentiate themselves from larger institutions that seem fee-dependent or "too big to manage.".
Years of branch closures and job cuts are paying off for banks in the form of much-improved efficiency ratios. But with low interest rates still crimping profits, banks remain under pressure to continue reducing expenses.
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