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U.S. Retail Banks Slow to Move on Omnichannel Tactics, Research Finds

October 18 – Today, BookingBug released its first research into how the top 10 U.S. retail banks are creating a more competitive customer experience, and which areas they are falling behind on.

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Focus on Customers and Not Products

By Don Musso and Stephan Brown Kinger

 

This article is the first of a four-part series on strategic planning based on FinPro’s 2016 State of the Industry speech, “The Traditional Community Bank Model is Dead.” The next topic is “Plan in the Future and Not the Past,” in December.

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Consultants and Chocolates

Tips for choosing the good ones every time.

By Nancy Schoolman and Bert Purdy

A wise person once said, “Consultants are like a box of chocolates.  You never know what you’re gonna get.” Okay, maybe no one has ever said that, but somewhere in our lives, someone should have given us this advice.

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NEXT MONTH: The Traditional Community Bank Model Is Dead

 

Consumer banking needs have not changed all that much over the last decade. However, the way those needs are met are going through transformational change. Fueled by technological advances, our industry is about to experience an evolution akin to Blockbuster to video streaming, brick retail to Amazon, post office to email, land lines to smartphones and taxis to Uber.

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Can This De Novo Be Saved?

By Toni Lapp

The White House Council of Economic Advisers in a recent report projected a rosy outlook for community banks. Authors of “The Performance of Community Banks Over Time,” acknowledged a decline in the number of community banks, but said the sector was “resilient.”

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Coming Soon: A De Novo Bank? Or Banks?

By Bill Poquette

For those of us worried about the attrition rate for community banks, this moment couldn’t have come soon enough. Last month, the House Committee on Oversight and Government Reform convened a hearing on the on the FDIC insurance application process. And in a statement prepared for the committee, FDIC Chairman Martin Gruenberg submitted a detailed analysis of de novo trends prior to, during and following the financial crisis.

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Don’t Overlook Branch Technology

By Chuck Klein

As banks race to remain relevant with the latest mobile functionality, are their in-branch technologies keeping up with market needs? Tech spending over the past few years has increased among banks of all sizes with a priority largely placed on developing effective online and mobile channels. For the most part, this makes perfect sense. However, while branch interactions might not be as big a part of consumers’ lives as they once were, in-branch banking is not going away.

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Key Players Ranked for Small-Business Lending

June 23 –  According to new data from Sageworks Bank Information, the total dollar amount of small business loans made by U.S. banks has steadily increased over the last several years from $6.14 billion in the first quarter of 2013 to $6.46 billion in the first quarter of 2016. To highlight key players in the market contributing to this trend, Sageworks identified the top lenders to small businesses by total dollar volume of small business loans outstanding as of the end of the first quarter of 2016. (more…)

ATM, Mobile, Online Channels Key to Customer Satisfaction at Big Banks

May 6 – Big banks have “significantly improved” in overall customer satisfaction, while midsize banks have declined and regional banks have plateaued, according to the J.D. Power 2016 U.S. Retail Banking Satisfaction Study.

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Ten Best Practices to Drive Digital Sales

By Erin Oswalt

Would you like to drive digital sales to new levels?  You are not alone – Recently Bottomline and BankNews offered a webinar focused on best practices in driving growth through digital channels. 90% of our audience indicated they have not reached their goals for digital growth.

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