The Financial Brand

SEPTEMBER 14, 2021

The highly digital yet personal strategy of one community institution points a way forward. Fragmented relationships are the new reality. The post The ‘Primary Financial Institution’ Concept Is Dead… Now What? appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Banking Trends 43

Banking Trends Analysis Strategy Community 43

American Banker

OCTOBER 26, 2016

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

Strategy 28

Strategy Industry Branch Strategies Community Bank 28

Gonzobanker

NOVEMBER 29, 2016

In reality, the ability to realize staff savings depends on the institution’s current staffing levels, level of integration, and strategy for customer introduction to ITMs. Instead, it originates from a couple of fundamental changes in sales strategy: 1. hosting financial education seminars). Removal of manual cash handling.

Video 60

Video Strategy Branch Strategies ATM 60

Gonzobanker

NOVEMBER 29, 2016

In reality, the ability to realize staff savings depends on the institution’s current staffing levels, level of integration, and strategy for customer introduction to ITMs. Instead, it originates from a couple of fundamental changes in sales strategy: 1. hosting financial education seminars). Removal of manual cash handling.

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Video Strategy Branch Strategies ATM 60

American Banker

AUGUST 18, 2016

Citizens Community Bancorp in Eau Claire, Wis., said it plans to close four branches in Walmart stores in mid-November.

Community 28

Community Branch Strategies Community Bank Strategy 28

American Banker

NOVEMBER 28, 2016

Two Midwest community banks plan to close a total of 11 branches and record charges to pay for the shutdowns.

Community Bank 28

Community Bank Community Branch Strategies Strategy 28

Jeff For Banks

MAY 31, 2017

I also believe that branches can be developed as competitive advantages for community financial institutions. Much like the credit union CEO thinks his branching strategy differentiates his CU. But, as our current strategy execution stands, there is much work to be done. Make your branches look the part.

Branch Strategies 60

Branch Strategies DC Groups Fintech 60

Independent Banker

MARCH 15, 2015

Increasingly, more digitally connected consumers are saying yes to that question with their community bank. For many community banks, telephone calls still generate the highest volumes of customer service interactions. Several retail service experts say it will apply to your community bank, if it doesn’t already. 1% Don’t know.

Community Bank 70

Community Bank Community Operations Retail 70

South State Correspondent

MAY 1, 2024

With financial hardship, competition from dominant players, and a startup budget, Gentle Monster faced many of the same challenges as a community bank. Being months away from bankruptcy, Kim launched a bold five-step plan driven by a strategy around innovation. Leveraging social media, Gentle Monster started to get traction.

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Innovation social media Branding Marketing 195

Jeff For Banks

OCTOBER 13, 2011

But the progressive talk about the future of the branch at times lacks common sense, in my opinion. This dates back to an interview I did with American Banker about a community FI that was opening coffee shop branches. So what about these big branches that we all have? The community FI may not have this luxury.

Branch Strategies 73

Branch Strategies New Jersey Strategy Capital 73

The Financial Brand

MARCH 18, 2021

But branches are being reborn amid a new sense of community. The post Digital Banking’s COVID Boom Drives Branch Transformation appeared first on The Financial Brand. Digital channels won the race for convenience.

Community 43

Community Digital Banking Branding Branch Design 43

The Financial Brand

JANUARY 31, 2021

GameStop provides lessons for the banking industry on digital transformation and potential impact of a distrusting community. The post What GameStop Can Teach Banking About Digital Disruption appeared first on The Financial Brand.

Community 43

Community Branding Industry Branch Strategies 43

The Financial Brand

MAY 12, 2021

The pandemic's impact has sharply revised the future of community and midsize institutions. Costs, revenues, distribution are all in flux. The post Outlook 2021: Banking Industry Trends & Challenges appeared first on The Financial Brand.

Trends 40

Trends Industry Community Branding 40

Jeff For Banks

DECEMBER 1, 2015

So putting a light branch in a mall that is being vacated by Macy’s may not be a winning strategy if your bank’s objective is to increase visibility through strategically located, yet smaller branches. All talk of visibility and foot traffic aside, the measure of branch success should be profits. Not very inspiring.

Pennsylvania 60

Pennsylvania Community Bank Community Taxes 60

ABA Community Banking

APRIL 5, 2024

Customer satisfaction with retail bank branches is much higher than average when banks deliver the fundamentals of customer service, according to a new bank customer satisfaction survey by J.D. The post Survey: Customer satisfaction higher when bank branches deliver ‘basic’ services appeared first on ABA Banking Journal.

Survey 52

Survey Retail Branch Strategies Community Bank 52

Jeff For Banks

DECEMBER 1, 2020

The table is from my firm's profitability peer database, where we measure product profitability for dozens of community financial institutions. The change from 2.25%-2.5% in 2019 to the 0%-0.25% year to date has resulted in the revenues per product to go down in all deposit products with the exception of money market accounts (see table).

Trends 78

Trends Community Marketing Data 78

The Financial Brand

MAY 5, 2021

Debate has begun over the need for tighter rules to protect urban and rural communities. Here's what it could mean for the industry. The post Will New Administration Rewrite the Rules on Banking Mergers? appeared first on The Financial Brand.

Community 35

Community Branding Industry Branch Strategies 35

The Financial Brand

AUGUST 26, 2020

Study shows: Even with lobby restrictions still in place, most new consumer checking accounts at community institutions originate in-branch. The post Branches Bounce Back with Strong Retail Sales After Initial COVID Hit appeared first on The Financial Brand.

Retail 39

Retail Study Community Branding 39

American Banker

JANUARY 5, 2017

We need more and bigger black-owned banks, not just a surge of deposits for a few institutions, especially if those institutions have not proven that they adequately serve the black community.

Community 52

Community Branch Strategies Strategy Retail 52

American Banker

SEPTEMBER 15, 2016

The scorcher at Wells is giving some community bankers an opening to differentiate themselves from larger institutions that seem fee-dependent or "too big to manage.".

Community 28

Community Management Branch Strategies Community Bank 28

The Financial Brand

NOVEMBER 14, 2019

Evolving underused branches into places where financial stress is relieved would put banks and credit unions back on the community map. The post Branches Should Become Financial Health and Wellness Centers appeared first on The Financial Brand.

Community 28

Community Branding Branch Strategies Strategy 28

American Banker

SEPTEMBER 6, 2016

But online-only and community banks still have them beat as the type and number of fees associated with big-bank checking have multiplied. Under pressure from regulators and consumer advocates, brick-and-mortar banks are now offering overdraft-free accounts.

Community Bank 28

Community Bank Community Regulation Online 28

American Banker

JULY 20, 2016

Executives at several minority-owned community banks nationwide, including OneUnited Bank in Boston and Carver Federal Savings Bank in New York, say they have received a windfall of deposits in recent weeks, coinciding with the introduction of the Black Money Matters Project.

Boston 28

Boston Community Bank New York Community 28

American Banker

NOVEMBER 18, 2016

Banks should focus on strategies to ensure their sales incentives programs actually help drive profits. Otherwise, their rewards programs are at risk of adding zero benefit to their bottom line.

Strategy 28

Strategy Branch Strategies Community Bank Analytics 28

The Financial Brand

JANUARY 8, 2020

Digital banking keeps making strides but research demonstrates that staffed financial institution branches make a difference to communities. The post ‘Branch Deserts’ Harm Low-Income Areas Even in Mobile Banking Age appeared first on The Financial Brand.

Mobile 23

Mobile Community Digital Banking Branding 23

ABA Community Banking

JUNE 17, 2020

The time is right to leverage the experiences of the past few months to make significant and sustainable changes to the branch environment. The post When Will Retail Banking Return to ‘Normal’? appeared first on ABA Banking Journal.

Retail 96

Retail Branch Design Branch Strategies Resources 96

American Banker

JULY 14, 2016

It could be a sign that megabanks are indeed stealing market share from regional and community banks. JPMorgan posted strong gains in consumer deposits and mobile users, and other big banks are expected to do the same.

Regional 28

Regional Community Bank Community Mobile 28

Fintech Labs Insights

AUGUST 21, 2015

Probably the best example of growing a franchise using branching (at least in the United States over the past 20 years), is Umpqua Bank. It grew from a small community bank to a west coast regional on the back of its innovative branching strategy (Warning! Do not try to copy this, it’s not 1995 any more).

Branch Strategies 12

Branch Strategies Seattle United States ATM 12

The Financial Brand

OCTOBER 4, 2016

Here are five factors financial institutions need to consider when evaluating how to leverage a sense of "community" in their branch network.

Community 24

Community How To Branch Strategies Strategy 24

The Financial Brand

JUNE 21, 2017

These 10 Bank-at-Work success strategies can provide a steady flow of new and expanded banking relationships from business relationships.

Strategy 19

Strategy Branch Strategies Community 19

Jeff For Banks

FEBRUARY 21, 2015

Why add a protective wrap of additional employees around your branches? Because branch staff are too busy with operational duties to go out into the community and pro-actively hunt for business. I’ve been to a lot of branches as I travel the land looking for opportunities for banks to improve profits.

Training 60

Training Strategy Branch Strategies Management 60

The Financial Brand

OCTOBER 6, 2015

The core elements of a modern banking branch renovation include customer experience, ROI, lean processes and community space.

Customer Experience 12

Customer Experience Community Branch Design Branch Strategies 12

The Financial Brand

JANUARY 11, 2022

Innovative minds in other industries have come up with terrific ways to improve customer experience that banks and credit unions can borrow. The post Here Are 8 Inspired Ideas from Other Industries that Banks Should Use Too appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Industry 37

Industry Banking Trends Customer Experience Analysis 37

The Financial Brand

JANUARY 24, 2022

But the unwillingness to reconsider branch dependency could be a millstone. A big surprise is the willingness to offer crypto services. The post New Competition Forcing Smaller Banks to Try (Almost) Anything appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Banking Trends 29

Banking Trends Analysis Trends Branding 29

The Financial Brand

JANUARY 3, 2021

Mandatory vaccination is the big one, but a host of other issues makes it crucial for banks and credit unions to proactively prepare. The post Is Your Financial Institution Ready for Tough COVID Vaccine Questions? appeared first on The Financial Brand.

Branding 37

Branding Branch Strategies Marketing Strategies Leadership 37

American Banker

DECEMBER 28, 2016

As the banking environment demands a different skill set for those operating leaner branch networks, institutions should look at tellers as a longer-term human resource with growth potential.

Resources 60

Resources Operations Branch Strategies Community Bank 60

The Financial Brand

MARCH 10, 2021

When banks and credit unions close branches, consumers will vent their wrath online. The post Brace Yourself for an Angry Online Mob When Closing Branches appeared first on The Financial Brand. Be prepared for a big backlash, or risk losing business.

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Online Branding Branch Strategies Community 31