Amazon Becomes Retail Bank Role Model


Amazon.com has revolutionized everything from publishing to online shopping. But can it save retail banking?

The Internet giant was the virtual guest of honor this month at Retail Banking 2014, an American Banker conference. On stage and in interviews, top bank executives repeatedly invoked Amazon’s name as an example of what they aspire to become.
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Cross-Selling to Gen-Y Banking Consumers


72% of of adults under age 30 who are shopping for checking accounts are also in the market for other banking products. To capitalize, institutions must align their channel experiences, offer rewards for deeper relationships and focus on cross-selling in the branch.
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Bankers: Want More Sales? Have Better Conversations


In banking, we often think about customer “transactions” as discrete opportunities to either succeed or fail with the customer. Succeed enough over the course of time, without any substantial “fails,” and the customer should reward you with increased business – or at least keep you near the top of their consideration set. The problem with this view is that it is extremely passive, and passivity kills.
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The Smaller, More Profitable Branch of the Future


Draconian reductions in branch networks are not necessary for banks that shift to smaller, more efficient platforms for meeting customer needs.

With branch transaction volumes continuing to decline, banks are exploring their options regarding their branches’ futures. Numerous studies have indicated that customers prefer to have access to branches when they want them, but with that need being much less frequent, what are banks to do? It doesn’t help that some experts say branches must be downsized, while others advocate for closing smaller branches and aggregating business into larger, higher-volume Locations.
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What Will Account Opening Look Like in 10 Years?


How will consumers open checking accounts and apply for loans in the not-too-distant future? Here are five likely possibilities.

Fifty years ago, there was only one way to open an account: head downtown to your local bank, find a clerk, and ask him or her to help you. Today, you can open an account in the branch, over the phone through a call center, through online account opening on your desktop, or through mobile account opening on your smartphone or tablet. In every channel, account opening has gotten faster and easier as institutions have started using data, technology, and design to remove pain points and improve the processes of application, qualification, identity verification, funding, and account creation.
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9 Secrets to Building Customer Engagement in Banking


Virtually every bank and credit union has the acquisition of new customers as a top priority for 2014. But generating a new account is only the beginning. To generate near-term profitability and long-term relationships, the new customer must become fully engaged.
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Is Social Media a Channel?


I see and hear this a lot nowadays – in presentations and conversations. To be honest, apart from the questionable grammar of the question, I think the answer is pretty simple – NO! But scratch away at that simple answer and a more interesting question lies beneath… Why do we need to define channels?
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