With interest rates remaining low and traditional fee income such as debit card and overdraft fees impacted by recent government regulations, banks and credit unions are increasingly looking for new ways to increase revenue. While banks will look to cost cutting measure, another way to make up for falling fee income may be to have…

With interest rates remaining low and traditional fee income such as debit card and overdraft fees impacted by recent government regulations, banks and credit unions are increasingly looking for new ways to increase revenue. While banks will look to cost cutting measure, another way to make up for falling fee income may be to have…

Banks have long cultivated the image of stability with marble counters and mahogany desks, indicating a sense of permanence. But in order to do something new, you have to stop doing the old! The new frontiers of banking are in a relatively new area called Fintech. In this world, startups from outside the traditional banking…

As Steve Jobs famously said “Some people say give customers what they want, but that’s not my approach. My job is to figure out what they are going to want before they do.” With the current disruption and banking options available, it has never been more crucial for banks to build positive personal relationships with…

Typically, banks make their money off the top 20% of customers and lose money on the bottom 20%. Identifying customers that will help maximize their profits has become the mission of most banks, but is it as simple as always finding the right customer? Should banks reject customers that don’t increase their profitability and encourage…

Do the underbanked really need bank accounts anymore? With the introduction of mobile financial options, more and more people are opting out of traditional bank accounts and turning to the myriad of financial options that are becoming available as an alternative to traditional checking accounts. Between pre-paid debit cards, gift cards, Western Union accounts, Paypal,…

Pre-paid debit cards are the fastest growing deposit product in countries like the United States and China today. In the US healthy 25% year-on-year growth the last 4 years now amounts to $350 Billion dollar annual business. In contrast checking accounts in the US have been shrinking by close to 4% year-on-year since 2009. The…

It is an old cliche that is proving to be untrue. But the trick to money buying happiness may not lie in how much money we have, but in how and when we spend it. This week Brett is joined by Michael Norton, a Harvard business school professor and author of HAPPY MONEY, which explains…

We are now in a time when interface is a more common experience than face to face. It is faster, easier, and simpler… or at least it should be. Banks must look for ways to build bridges to customers through these new interfaces and create customer experiences that build trust, create commonality, and increase loyalty….

After the banking crisis of 2008 and the lingering effects on the economy, people have felt a mistrust in their banks and communities. Many have put even more trust in credit unions, but have found that there are restrictions on their accounts and access that they don’t like. To take a deeper look at these…

Pre-paid debit cards are the fastest growing deposit product in countries like the United States and China today. In the US healthy 25% year-on-year growth the last 4 years now amounts to $350 Billion dollar annual business. In contrast checking accounts in the US have been shrinking by close to 4% year-on-year since 2009. The…

When we think of technology in banking we often think of 40 year old legacy mainframe systems and clunky IVR menu trees (Press 1 for banking, 2 for credit cards, etc) that are complex, unwieldy and don’t exactly provide a great customer experience in comparison with sitting in front of a smiling human in a…