Over the past few weeks many articles have been published about the damage that has been caused by lawsuits the FDIC has filed against bank directors and officers. I know there were some things going on in a few banks that weren’t always done appropriately or legally, but the problem is that much of this activity had been occurring for years. As Warren Buffet once said, “Only … [Read more...]
Banks are branching out to get customers into their branches
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...]