Branch Strategies, National and Retail - Community Banking Brief

10 Data-Driven Ideas To Increase Branch Engagement

South State Correspondent

MAY 31, 2023

The advent of generative artificial intelligence is about to shift branch strategy 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 branching strategy should dictate capital allocation, branch layout, marketing, and staffing.

Data

Data Branch Strategies Strategy Mobile

Steal This 5-Step Banking Innovation Playbook from Gentle Monster

South State Correspondent

MAY 1, 2024

How Banks Can Leverage: Niche markets abound in banking, and community banks are in the perfect position to create a following on a national level should they desire. Each store is closer to an art exhibit than a retail outlet. Leveraging social media, Gentle Monster started to get traction. months, including an annual operating cost.

Innovation

Innovation social media Branding Marketing

Taking A Pass On Passwords

PYMNTS

AUGUST 11, 2017

In 2003, Bill Burr was a midlevel manager at the National Institute of Standards and Technology where he authored, “NIST Special Publication 800-63. Likewise, Walmart may be gunning for beauty products subscription firm Birchbox, which noted it has been in discussions with several retailers regarding a deal. That’s not hyperbole.

ATM

ATM United States Industry Branch Strategies

Old Dominion Hires Longtime Va. Banker as Retail Banking Director

American Banker

AUGUST 16, 2016

Old Dominion National Bank in McLean, Va., has hired Stephanie Lykins-Harvey, formerly of Cardinal Bank in McLean, as director of retail banking.

Retail

Retail National DC Branch Strategies

Priorities of Wells' New Retail Chief: Fix Pay, Accelerate Mobile

American Banker

NOVEMBER 3, 2016

In her first major presentation as Wells Fargo's head of retail banking, Mary Mack took on the doubters, making the case for why she is the best fit to lead the embattled retail unit. She laid out plans to revamp compensation and internal culture.

Retail

Retail Mobile Branch Strategies Regional

Direct-Banking 'Architect' Now Retail Head at Associated of Wis.

American Banker

JUNE 6, 2016

Tischler to the newly created position of director of retail banking. Associated Banc-Corp in Green Bay, Wis., has promoted Brent R.

Retail

Retail Branch Strategies Regional National

HSBC's New U.S. Retail Chief Is a Veteran of JPMorgan, Amex

American Banker

AUGUST 15, 2016

HSBC has hired Anthony Glover, a veteran of JPMorgan Chase and American Express, to be its head of retail banking in the U.S., a newly created position.

Retail

Retail Branch Strategies Regional National

Citi Recruits JPM's Gavin Michael to Lead Consumer Technology

American Banker

AUGUST 16, 2016

Gavin Michael, head of digital banking for JPMorgan Chase's retail unit, is moving to Citigroup.

Technology

Technology Digital Banking Retail Branch Strategies

Doing More with Smaller Branches at Citizens Financial

American Banker

JUNE 3, 2016

The bank, which operates in 12 states, is bringing customers in the door even as it cuts its retail square footage by half. The offer of a financial "checkup" that tens of thousands of people have accepted.

Retail

Retail Operations Branch Strategies Regional

Bigger Banks Are Gobbling Up a Larger Share of Deposits: FDIC

American Banker

OCTOBER 3, 2016

trillion, even as the total number of banks and branches declined. Total deposits at U.S. banks climbed nearly 6% year over year, to $11.3

FDIC

FDIC Branch Strategies Community Bank Regional

First Foundation to Buy Two PacWest Branches

American Banker

OCTOBER 4, 2016

has agreed to buy a pair of branches from Pacific Western Bank in Beverly Hills, Calif. First Foundation in Irvine, Calif.,

Branch Strategies

Branch Strategies CA Community Bank Regional

Why Big Banks Would Do Well to Spin Off Credit Cards

American Banker

NOVEMBER 8, 2016

It is premature to say whether criticism of cross-selling and calls to break up the big banks will lead to action, but there is one area where a spinoff could actually be in the banks' interest.

Cards

Cards Branch Strategies Regional National

Wells' Stumpf Called to Testify for Third Time About Fake Accounts

American Banker

OCTOBER 4, 2016

Wells Fargo Chief Executive John Stumpf may get a third grilling by lawmakers over the fake account scandal that continues to embroil the San Francisco bank.

San Francisco

San Francisco Branch Strategies Regional National

To Transform Banking Start with Employees

American Banker

JUNE 27, 2016

Is being customer-centric a goal at your bank? You’ll need to master these five practices to align employee behavior with your desire to improve the customer experience.

Customer Experience

Customer Experience Branch Strategies Regional National

Beware the 'Cargo Cult' of Performance Targets

American Banker

JANUARY 2, 2017

The phony-account scandal at Wells Fargo illustrates how sales quotas can incent bad behavior. Is your bank effectively mitigating the risk of 'managing to metrics'? Or could it be in danger of becoming a 'cargo cult'?

Management

Management Branch Strategies CA Community Bank

Can the Underbanked Solve Banking's Branch Problem?

American Banker

MAY 25, 2016

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.

Minnesota

Minnesota Company Branch Strategies Community Bank

End of an Era: TD Bank Retires Coin-Counting Machines

American Banker

MAY 19, 2016

TD Bank announced Thursday that is doing away with the Penny Arcade coin-counting machines that are stationed in more than 1,000 of its branches along the East Coast.

Branch Strategies

Branch Strategies NJ Regional National

Wells Fargo Won't Give Up 'Cross-Sell Focus,' CEO Says

American Banker

NOVEMBER 3, 2016

Two top executives said the scandal-plagued bank has managed to minimize the financial damage and can continue to grow amid some reforms. Yet they acknowledged that the full toll has yet to be realized, and the company announced it had significantly raised its estimated legal exposure.

Management

Management Company Branch Strategies Regional

U.S. Bancorp's Davis: Don't Blame All Banks for You-Know-Whose Problems

American Banker

OCTOBER 19, 2016

Cross-selling abuses are not systemic and honest bankers are still important to society, the head of the Minneapolis bank said in an apparent reference to the scandal at Wells Fargo.

Minneapolis

Minneapolis System Branch Strategies Regional

Too Many Branches? Wells Scandal Forces B of A to Defend Network

American Banker

OCTOBER 17, 2016

Strong growth in deposits and mobile users at Bank of America, together with questions tied to the phony account scandal at Wells Fargo, had B of A executives addressing whether their bank and others would be better off than ever by scaling back branches.

America

America Mobile Branch Strategies Regional

The Wells Question Is Popping Up on Other Banks' 3Q Calls

American Banker

OCTOBER 14, 2016

Apart from the usual queries about prospects for loan growth and strategies for controlling costs, bank executives better be prepared this earnings season for probing questions about in-branch sales practices and how they are compensating front-line employees.

Strategy

Strategy Branch Strategies Regional National

Wells Fargo Says It Has a New Strategy, Offers Scant Details

American Banker

OCTOBER 14, 2016

Wells Fargo’s freshly installed CEO made clear Friday that he wants to chart a new course following the revelation that thousands of employees opened phony accounts. But Tim Sloan made few promises about what the megabank will eventually look like.

Strategy

Strategy Course Branch Strategies Regional

How Much Is JPM's Deposit Juggernaut Hurting Smaller Banks?

American Banker

JULY 14, 2016

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 community banks.

Regional

Regional Community Bank Community Mobile

How Wells Fargo's Aggressive Sales Culture Took Root

American Banker

DECEMBER 19, 2016

Longtime CEO Richard Kovacevich retired from Wells Fargo almost a decade ago, but understanding the scandal that has engulfed the bank requires a close look at the cross-selling mindset that he left for his successors. It was a culture in which the sales often justified the means.

Branch Strategies

Branch Strategies Regional National Strategy

Wells' Sales Slump Continued in November

American Banker

DECEMBER 16, 2016

Wells Fargo continues to sustain damage from consumers who were put off by the company's phony account scandal.

Company

Company Branch Strategies Regional National

How Common Are Cross-Sale Quotas, Anyway?

American Banker

DECEMBER 14, 2016

Pretty rare, it turns out: Less than a third of executives surveyed by SourceMedia Research said their institutions set formal cross-selling targets for staff. And of those with cross-sale incentive programs, nearly half are reconsidering.

Survey

Survey Branch Strategies Regional National

Can Banks Still Cross-Sell in 2017? Yes, But …

American Banker

DECEMBER 12, 2016

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.

Branch Strategies

Branch Strategies Community Bank Regional National

Here's How Wells Fargo Proves It's Not a Wall Street Villain

American Banker

DECEMBER 8, 2016

The bank must make fundamental changes to avoid becoming the ultimate scapegoat for grievances about Wall Street's biggest banks.

Branch Strategies

Branch Strategies Regional National Strategy

Bank of the Year: USAA

American Banker

NOVEMBER 29, 2016

For its commitment to improving the long-term health of depositors, and a nimble, failure-is-not-a-dirty-word approach to innovation, USAA has earned an honor American Banker normally bestows on a single individual.

Innovation

Innovation Branch Strategies Regional National

Bank of America Suffers 'Sporadic' Teller System Outages

American Banker

NOVEMBER 22, 2016

Consumers flooded Twitter and downdetector.com with complaints that Bank of America's teller system was down Tuesday afternoon.

America

America System Branch Strategies Regional

Wells Fargo's Account Openings Plunged 44% in October

American Banker

NOVEMBER 17, 2016

Wells Fargo is continuing to sustain damage from the phony-accounts scandal that emerged in early September, according to new data published Thursday.

Data

Data Branch Strategies Regional National

Banking's Ethics Problems Run Much Deeper than Wells Fargo

American Banker

NOVEMBER 14, 2016

The same incentives structure that encouraged bad behavior at the bank can be blamed for ethical mishaps in other industries as well as the government.

Industry

Industry Branch Strategies Regional National

UMB Adjusts Sales Incentives for Branch Employees

American Banker

OCTOBER 26, 2016

has made changes to incentive compensation for its branch employees. UMB Financial in Kansas City, Mo.,

Kansas City

Kansas City Kansas Branch Strategies Regional

Wells Fargo's Sloan to Employees: We're Sorry

American Banker

OCTOBER 25, 2016

CEO Tim Sloan said senior executives made a series of mistakes in response to the phony account scandal, including placing too much of the blame on branch employees.

Branch Strategies

Branch Strategies Regional National Strategy

Well Fargo's Sloan to Employees: We're Sorry

American Banker

OCTOBER 25, 2016

CEO Tim Sloan said senior executives made a series of mistakes in response to the phony account scandal, including placing too much of the blame on branch employees.

Branch Strategies

Branch Strategies Regional National Strategy

JPMorgan Investigates Cross-Selling Following Wells Scandal

American Banker

OCTOBER 14, 2016

JPMorgan Chase is conducting a "deep dive" investigation into its cross-selling practices, in light of the fallout from the phony account scandal at Wells Fargo.

Branch Strategies

Branch Strategies Regional National Strategy

Without Cross-Selling, Will Wells Have to Scale Back Branches?

American Banker

OCTOBER 13, 2016

Some analysts are suggesting Wells Fargo should start closing branches, in order to move beyond the phony-accounts scandal, make up for an expected drop in fee income from reduced cross-selling — and position itself for a digital future.

Branch Strategies

Branch Strategies Regional National Strategy

Does Cross-Selling Deserve to Be Demonized?

American Banker

OCTOBER 11, 2016

The Wells Fargo scandal has given cross-selling a bad name, but experts say that, done right, it is a crucial revenue driver in this era of razor-thin net interest margins. Their advice: Only sell products that customers need and compensate employees for retaining customers, not simply opening accounts.

Branch Strategies

Branch Strategies Regional National Strategy

Wells Scandal Aside, Cross-Selling Has Other Problems

American Banker

SEPTEMBER 27, 2016

Concerns about cross-selling run deeper than the risk of misbehavior. The practice also has a questionable economic rationale.

Branch Strategies

Branch Strategies Regional National Strategy

Fed Deserves Some Blame for Aggressive Cross-Selling Tactics

American Banker

SEPTEMBER 22, 2016

The Wells Fargo scandal is more reason for officials to tighten policy on anti-tying measures to put a stop to overly aggressive sales methods.

Policies

Policies Branch Strategies Regional National

After Brutal Hearing, What's Next for Wells Fargo?

American Banker

SEPTEMBER 20, 2016

John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming scandal, but his harsh questioning by lawmakers — and his struggle to answer many of their questions — suggests that the embattled megabank's problems are just beginning.

Branch Strategies

Branch Strategies Regional National Strategy

Push to Boost Pay in Branches Gets Help from Wells Scandal

American Banker

SEPTEMBER 19, 2016

A union-led coalition is seizing the opportunity presented by the firing of 5,300 workers at Wells Fargo to call for higher pay and better working conditions for branch employees.

Branch Strategies

Branch Strategies Regional National Strategy

Wells Fargo Scandal Will Rewrite the Book on Clawing Back Pay

American Banker

SEPTEMBER 16, 2016

The embattled bank is under pressure to claw backs of bonus pay from executives. Its decision figures to have ripple effects throughout the industry.

Industry

Industry Branch Strategies Regional National

Wells Fargo Just Gave Small Banks a Big Gift

American Banker

SEPTEMBER 15, 2016

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.".

Community

Community Management Branch Strategies Community Bank

10 Data-Driven Ideas To Increase Branch Engagement

Steal This 5-Step Banking Innovation Playbook from Gentle Monster

Trending Sources

Taking A Pass On Passwords

Old Dominion Hires Longtime Va. Banker as Retail Banking Director

Priorities of Wells' New Retail Chief: Fix Pay, Accelerate Mobile

Direct-Banking 'Architect' Now Retail Head at Associated of Wis.

HSBC's New U.S. Retail Chief Is a Veteran of JPMorgan, Amex

Citi Recruits JPM's Gavin Michael to Lead Consumer Technology

Doing More with Smaller Branches at Citizens Financial

Bigger Banks Are Gobbling Up a Larger Share of Deposits: FDIC

First Foundation to Buy Two PacWest Branches

Why Big Banks Would Do Well to Spin Off Credit Cards

Wells' Stumpf Called to Testify for Third Time About Fake Accounts

To Transform Banking Start with Employees

Beware the 'Cargo Cult' of Performance Targets

Can the Underbanked Solve Banking's Branch Problem?

End of an Era: TD Bank Retires Coin-Counting Machines

Wells Fargo Won't Give Up 'Cross-Sell Focus,' CEO Says

U.S. Bancorp's Davis: Don't Blame All Banks for You-Know-Whose Problems

Too Many Branches? Wells Scandal Forces B of A to Defend Network

The Wells Question Is Popping Up on Other Banks' 3Q Calls

Wells Fargo Says It Has a New Strategy, Offers Scant Details

How Much Is JPM's Deposit Juggernaut Hurting Smaller Banks?

How Wells Fargo's Aggressive Sales Culture Took Root

Wells' Sales Slump Continued in November

How Common Are Cross-Sale Quotas, Anyway?

Can Banks Still Cross-Sell in 2017? Yes, But …

Here's How Wells Fargo Proves It's Not a Wall Street Villain

Bank of the Year: USAA

Bank of America Suffers 'Sporadic' Teller System Outages

Wells Fargo's Account Openings Plunged 44% in October

Banking's Ethics Problems Run Much Deeper than Wells Fargo

UMB Adjusts Sales Incentives for Branch Employees

Wells Fargo's Sloan to Employees: We're Sorry

Well Fargo's Sloan to Employees: We're Sorry

JPMorgan Investigates Cross-Selling Following Wells Scandal

Without Cross-Selling, Will Wells Have to Scale Back Branches?

Does Cross-Selling Deserve to Be Demonized?

Wells Scandal Aside, Cross-Selling Has Other Problems

Fed Deserves Some Blame for Aggressive Cross-Selling Tactics

After Brutal Hearing, What's Next for Wells Fargo?

Push to Boost Pay in Branches Gets Help from Wells Scandal

Wells Fargo Scandal Will Rewrite the Book on Clawing Back Pay

Wells Fargo Just Gave Small Banks a Big Gift

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