By Neal Reynolds A few weeks ago, I wrote a blog entitled, “Prevent bank branch closings with free WiFi” that received a huge response. Then, just last week, the Wall Street Journal wrote an article “Bank To-Do List: Make a Deposit, Grab a Brew, Maybe Strike a Pose,” where they talked about the many ways banks are drawing potential customers into their branches. Umpqua … [Read more...]
Bitcoin: Are We Ready for a Decentralized Currency?
For the last couple of years, bankers and financial gurus all over the world have been trying to predict where the banking industry is going. We’ve all heard about the “digital wallet.” There’s Google Wallet, MasterCard’s PayPass Wallet, Square Wallet, Lemon Wallet, PayPal and more. But while everyone was making their predictions, a pseudonymous developer named Satoshi … [Read more...]
Prevent bank branch closings with free WiFi?
In the most recent edition of the ABA Banking Journal, there is a sobering article about all of the bank branch closings over the last couple of years (Time to close under-performing branches). Over 2,300 offices have been closed to date and many more are in the process. Much of this is caused by in-branch transaction volumes dropping by 10% annually in many institutions. … [Read more...]
Banks and Mobile Banking: Fish or Cut Bait!
As we say in the south, either fish or cut bait. When it comes to mobile banking, banks had better get on board or start looking for a closed sign. In the last couple of months, I spoke at the Nebraska Bankers Association Marketing Conference and at the Wolters Kluwer Financial Services Users Summit. I was shocked at the number of banks that said, “We’ll never offer … [Read more...]
Social media and your bank – what your customers are saying about you and what you can do about it.
Several years ago, a friend of mine had her satellite radio stolen from her car as it sat in her driveway. She promptly called and reported it stolen, requesting that service to the radio be cancelled immediately. Instead – despite multiple calls, complaints and tears – the company charged her monthly for a radio that she no longer even owned for the next three … [Read more...]