South State Correspondent

OCTOBER 29, 2015

It has been said that community banks are not doing enough to differentiate themselves and are not properly segmenting their markets.

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Community Bank Branding Community Marketing 290

Abrigo

APRIL 8, 2015

'By Bakley Smith, CFA Strong businesses have a solid handle on their financial reality, and the cash flow statement is an excellent, if not the best, measure of a company’s ability to generate cash in excess of cash invested. Over a sufficiently long period of time, all businesses have to generate positive cash flow or they will go out of business. Forecasting the statement of cash flows is a valuable exercise for a business for several reasons.

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Taxes New York City Exercises Policies 279

Finer Points

SEPTEMBER 22, 2015

When most people want a tissue, they say they need a Kleenex. When you cut your finger, you don’t say you need an adhesive bandage—you need a Band-Aid! When you need to make a photocopy, regardless of the brand of the machine, you make a Xerox copy. Many marketers would consider this a compliment, especially […].

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Branding Marketing Washington Community Bank 217

Celent Banking

SEPTEMBER 9, 2015

I´ve recently had multiple conversations with financial institutions about the trend of unbundling financial services by fintech startups. In fact, it’s hard to discuss the future of the industry without touching on it. Articles from Tanay Jaipuria , Tech Crunch , and CBInsights speak openly about inexorable disruption. They all tell a fairly similar story.

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Millennials Fintech Industry Bitcoin 212

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Groups

Accenture

JULY 6, 2015

In the Accenture Technology Vision 2015 for Banking, we explore five digital trends that reinforce our strategy for banks to become Everyday Banks. The first trend we explore is the Internet of Me. We know that personalized experiences are a. Read more.

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Trends Strategy Technology Digital Banking 192

South State Correspondent

NOVEMBER 9, 2015

Later this month, Secretary of State John Kerry will attempt to bring peace to one of the world’s most dangerous troubled spots – a Washington D.C. Best Buy. There, mobs of discount-fueled shoppers will be viciously climbing over each other attempting to save $25 on the latest Xbox One. Kerry will no doubt realize the futility of the negotiations and head back to the Middle East where people are more reasonable.

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Washington 258

South State Correspondent

AUGUST 17, 2015

Indra Nooyi, Pepsi’s CEO, wanted to put more emphasis on design. She gave each executive a photo album and a mission to go capture designs that “inspire.” It was a simple assignment, but only a few managers completed the task and of those that did, half of those had their spouse do it for them. Those that did do it, just stuck with superficial changes such as changing the shape of their bottle, the label and the color of Pepsi’s blue.

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Digital Strategies Strategy Management 257

South State Correspondent

OCTOBER 21, 2015

Yesterday was the first anniversary of Apple Pay while the past 60 days saw the release of Android Pay and Samsung Pay. The strategic question comes up – which do you do if any? Before you answer that question ask yourself this one – how long do you want to be in business? Wait. Before you fire us off an angry email, we are not being flippant. It is important to understand your investment horizon, as if your bank plans on selling in the next five years, then why go through the cost and hassle of

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Community Bank Community Samsung Apple 255

South State Correspondent

APRIL 13, 2015

'The question came up the other day in our branch if we should equip it with customer wifi. What we thought was an easy question to answer, seemed to have some debate starting with the cost and how often customers that walk into a branch will stop and use wifi. After all, if we do our service job right, the customer is in and out of the branch and on their way, so who has time to connect to wifi?

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Analysis

South State Correspondent

OCTOBER 6, 2015

There was a time when the average community bank customer was the same age as the adult general population. Over time, due to the urbanization of America, immigration and lack of targeted marketing, this has changed. Now, the average community bank customer is more than 5 years older than the general population and increasing in age at a faster rate.

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Community Bank Community America Marketing 250

South State Correspondent

JULY 21, 2015

Banks stumble on how to create an enduring brand. It’s hard given that one checking account looks much like another. However, if they can brand water, bananas and vodka, we can certainly brand a bank. Just be glad your bank has a product that customers can see and touch, because Intel had a tough job branding its hardware that was never seen. Despite that, Intel was wildly success with its “Intel Inside” branding effort and serves as a case study of why you want to invest in a brand.

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How To Case Study Branding Study 250

South State Correspondent

NOVEMBER 17, 2015

Truth be told, there is very little practical knowledge taught in college. Sure, details of Horace Mann’s life, the atomic weight of Californium and when to evoke the pooling of interest accounting method all have their place, but these concepts are not nearly as useful as understanding how restricted stock vesting works or the difference between Merlot and Pinot Noir.

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South State Correspondent

JUNE 17, 2015

We need your help on this one. If you have a pen and paper, keep it handy as we will ask you to write down one number related to your bank. First, let’s define the concept. In statistics , the correlation coefficient is a measure of the linear dependence between two variables X and Y, with a value that ranges between +1 and −1 inclusive. A correlation of 1 is perfect positive correlation, 0 is no correlation, and −1 is a perfect negative correlation.

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Lending

South State Correspondent

JULY 13, 2015

In case you missed our Bank Management Conference this weekend, we thought we would bring you our favorite idea from the gathering of almost 500 bankers and their families – what it takes to be a remarkable bank. Unfortunately, when you consider the one word that describes the average customer experience at a bank, that word is “unremarkable.” If we are honest with ourselves, most banks are as forgettable and as interchangeable as a convenience store or school – we go there because it happens to

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Conference Customer Experience US Management 240

South State Correspondent

NOVEMBER 16, 2015

In order to give you the most current perspective on our banking industry, we have compiled the latest data and have attached a complete presentation at the bottom of this blog post. The summation of the quarter is this – While large banks did just slightly better for performance, community bankers felt like they were hamsters running in place hard, but not getting anywhere.

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Community Bank Community Industry Data 239

South State Correspondent

MARCH 11, 2015

'Below you can download an Excel worksheet that will help you calculate the cost of your capital. Your cost of capital is important to know for several reasons. Mostly, it gives your board and shareholders a yardstick in which to gauge a bank’s return. Produce over your cost of capital and you will be able to attract more capital.

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Capital How To Marketing 240

South State Correspondent

OCTOBER 26, 2015

Let’s be honest, banks currently struggle turning themselves into sales organization. We know we can improve. The good news is that most bankers really care about the customer and strive to do the best by them. However, when it comes to understanding the sales process, there is much to be desired. Part of the issue is training bankers not to be sales people, but to be true financial advisors.

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Training 235

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Operations

South State Correspondent

FEBRUARY 23, 2015

'In the quest for greater profitability, one strategy that we are employing here at CenterState Bank is the move to be less transactional and more relationship based products. While lots of banks say they are about the relationship, few banks can point to anything more concrete other than delivering “the personal touch.” Having good people and an accessible CEO is just the price of entry for relationship banking.

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Strategy Marketing 235

South State Correspondent

FEBRUARY 17, 2015

'The war of corporate banking is being fought over cash management. Unfortunately, many community banks are at a disadvantage because they''re under-armed. Most of the deficiency stems from strategy as it is rare we hear of a bank where building out their cash management offerings is a priority. That is a mistake, as dollar-for-dollar expanding your corporate cash management suite is one of the best investments you can make given its high return.

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Management Community Bank Community Strategy 235

Abrigo

JANUARY 28, 2015

'By Brad Spence, Director of Sageworks Valuation Solution. It’s a classic conundrum – to build versus to buy. Make dinner at home versus take-out. While there are certainly people constructing their own coffee table – measuring, cutting, sanding and staining – most will drop a bill or two on a vintage-looking wood piece to prop up our feet after a long day.

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Taxes Compliance Course Software 235

South State Correspondent

FEBRUARY 18, 2015

'For many banks, loan structuring is a one size fits all effort. Like Henry Ford said about the Model T –Customer can have any color they would like in the car as long as it was black, banks say that their value proposition is service, yet offer few choices when it comes to loan structuring.

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Video 233

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Have you ever felt the pain and loss of a client suddenly going silent, leaving you questioning everything? Ghosting can cause heartbreak; in business, it drains resources, and emotionally, it shatters your confidence. A modern credit card program can give you the tools to deliver the digital-first experiences your customer’s demand. Our eBook, “5 Signs Your Credit Card Offering Needs an Upgrade,” will help you identify key indicators that your current card platform may be holding you back and w

Cards

Abrigo

JANUARY 14, 2015

'Bringing in new clients is a top priority for forensic and valuation accountants, with 87 percent calling the task somewhat or extremely important, according to a recent AICPA study. The emphasis on business development is understandable. Valuation work lacks as much repeat business (unless it’s tied to a recurring engagement like employee stock ownership plans) as tax preparation and other traditional accounting services, according to the Journal of Accountancy ’s review of the stu

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Study Compliance Report Data 233

South State Correspondent

OCTOBER 28, 2015

One of the best lessons that we have learned when it comes to bank marketing is not every potential customer should be a customer. Of course, what that means is that at some point you have to tell a profitable customer that we are not the bank for them and make the introduction to a competitor. This is hard to admit, particularly when you see a customer with strong deposit balances and a healthy appetite for loans that really want to do business with you.

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Course Marketing 230

South State Correspondent

SEPTEMBER 22, 2015

Seeing that we are in the heart of bank strategic planning season one major difference between average and high performing banks are the use of “lead measures.” Most banks come out of their planning effort with a series of lagging metrics such as “Achieve 12% ROE,” or “Reduce efficiency below 65%.” These measures are good because they measure achievement of a goal but they are not optimal because they are not instructive in helping you achieve those goals.

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South State Correspondent

JULY 7, 2015

In case you missed it, BBVA Compass, one of the most impressive banks over the last year, just introduced a concierge banking service ( HERE ). What is fascinating about the strategy is that they are one of the first regional or national banks to introduce this high-touch treatment for – everyone.

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Regional National Strategy 230

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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