I’ve written before about the need for financial institutions to train their sales associates. The reason is this: most banks and credit unions have never had to worry about selling anything. They opened a branch and people just walked in and opened an account. But as we all know, those days are over. Today, even people who have bank accounts are starting to use … [Read more...]
Mobile banking means evolution, not extinction for local community banks, credit unions.
In many of my posts, I’ve discussed the importance of high-quality customer service, from the drive-thru window to the executive suite. There may be skeptics out there who say that branch banking is on its deathbed and that customers are flocking to branchless banking through mobile devices. Meredith Deen, president of Financial Management Solutions, takes a different view. … [Read more...]
“Turn your radio on . . .”
What started as a Pennsylvania bank’s blog transformed with the twist of a dial. We like blogs. You wouldn’t be reading this if we didn’t. But something caught our attention that’s worth sharing. It’s the story of how the idea for a blog became a radio show. And while the jury is still out on how much bounce Fidelity Deposit and Discount Bank in Dunmore, Pa., will get from … [Read more...]
Disruptors: The bogeyman for traditional banks?
It’s no secret that the Fintech world is exploding. And while some innovations, like mobile banking apps, are marvelous opportunities for community banks to improve customer service and solidify their customer base, there are some scary trends at play that could radically transform banking as we know it and spell bad news for smaller banks. They’re called disruptors. These … [Read more...]
The powerful, but quiet marketing message of the Best Banks
In mid-January, ”American Banker” released its list of “The Best Banks to Work For”. The title alone may beg the question: What in the world does employee happiness have to do with marketing a bank?’ Plenty. Just take a look at three of the banks on the list and how they go the extra mile for the employees. And moreover, think about the message those happy employees … [Read more...]