Jeff For Banks
NOVEMBER 23, 2013
'Twenty years ago there were 14,000 FDIC-insured financial institutions. Today that number is cut in half. The reasons are many. And yes, some are beyond our control such as population mobility, technology, and the need for some scale to invest enough to remain relevant. But, as my one-time Division Officer, Lieutenant Proper, once told me: "Be careful pointing your finger, because the other three are pointing at you.
Banking 4 Tomorrow
NOVEMBER 4, 2013
'Credit cards are expensive. According to BankRate.com the average US annual percentage rate (APR) charges on credit cards is 15.35%[1], but that’s down in recent years. During the financial crisis some US-based credit card APRs went as high as 39.6%[2] as banks like Bank of American tried to compensate for increasing risk, or unwind high-risk […].
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Javelin Strategy & Research
NOVEMBER 22, 2013
Working for a payments research firm has distinct perks if you are, like me, a self-confessed payments nerd. You get to be privy to some of the most innovative and brilliant concepts way before they are brought to market and have the opportunity to pick the brains of some of the smartest minds in the industry. Every once in a while you get to see a new product or service that is truly the next generation of payments.
Jeff For Banks
NOVEMBER 18, 2013
'A colleague and I recently had a healthy discussion about what agenda items to include at strategic planning retreats. He was strongly in favor of showing summary level financial projections for "business as usual" at the financial institution. Showing value creation, or erosion, from doing the same things you have been doing will highlight the need for staying the course or strategic change, in his opinion.
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Jeff For Banks
NOVEMBER 30, 2013
'The holidays are upon us and the public relations blitz is on so we patronize small businesses for Christmas shopping. Why? Do small businesses have a unique value proposition that larger stores do not? Or are we relying on nostalgia and some David versus Goliath goodwill to drive us into the arms of local shops? I have news for you. The latter is a failed business idea.
Jeff For Banks
NOVEMBER 1, 2013
'I am guilty. Guilty of elevating increasing shareholder value to Napoleonic heights. I annually rank the top five financial institutions by total return to shareholders. I write about developing a strategic plan that results in financial returns that satisfy shareholders. I confess, I contributed to the notion that the shareholder matters above all else.
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