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The Human Imperative

Posted by Deborah Matthews Phillips

Wed, May 22, 2019 @ 09:05 AM

Imagine one of the most deeply personal conversations of your life – a devastating terminal health diagnosis – being delivered by a robot.

This happened to a patient in a Fremont, CA hospital this year. He received the bad news when a telemedicine robot rolled into Ernesto Quintana’s hospital room and a remotely located physician informed Mr. Quintana by video call that his days were numbered.[1]

I imagined myself in such a situation, growing despondent over the depersonalization of our most sensitive encounters. As technology becomes pervasive across all areas of our lives, it’s time to reflect on critical philosophical questions about how and where to draw the line when technology becomes a poor substitute for human engagement.

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Topics: Credit Unions, banking, digital banking, banks, digital

Best-In-Class Series, Part One - Attracting Small Business Clients

Posted by Bill Roen

Fri, May 17, 2019 @ 12:36 PM

 A common goal of every financial institution in the country is to attract and retain good clients. For many, this includes a focus on the small business community. There are more than 30 million small businesses in the United States. How do you attract them to your institution?

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Topics: Relationship Management, Commercial Lending, small business, relationships, loans

The Power of Credit Cards: Drive Satisfaction and Competitive Value

Posted by Rich Dambra

Wed, May 08, 2019 @ 11:00 AM

As a community bank or credit union, you may be used to hearing that you’re important to your accountholders, not just in terms of product offerings, but to their overall financial well-being. But what if the value you bring to them could be further enhanced and solidified by issuing credit cards?

Credit cards have evolved beyond a simple payment. Today, they include purchase protection insurance and real-time alerts for worry-free purchasing, financial flexibility to cover unexpected expenses, and rewards programs for consumers who like to earn cash back or miles towards their next vacation.

As your cardholders continue to embrace credit as a tool to reach their financial and lifestyle goals, how are you supporting them?

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Topics: Credit Unions, banking, financial services, banks, credit cards

Building Small Business Relationships in the Digital Age

Posted by Susan Griffin

Fri, May 03, 2019 @ 09:00 AM

Next week is National Small Business Week. As we celebrate the success of small businesses in our local communities, we’re seeing the number of financial service providers increase in a market that was once only served by traditional banks and credit unions. This has created a battle for market share like we’ve never seen before. The biggest differentiator that incumbent financial institutions have always been able to claim is that their business is built on relationships. Used to be, when a customer had a need relating to finances, they knew their bank was there for them.

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Topics: Relationship Management, Commercial Lending, relationships, loans, portfolio management, digital

Saving Your Data Means Saving Your Customers

Posted by Eric Flick

Wed, May 01, 2019 @ 03:17 PM

I don’t know about you, but I can remember a time when there were only about a dozen holidays on the calendar. Now it seems like almost every day is National fill-in-the-blank Day.

Disaster Recovery (DR) and Business Continuity (BC) practitioners are up for fun as much as the next person, so not to be left out of this trend, there are a couple of related items you should put on the calendar for the next time they roll around.

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Topics: Customer Experience, banking, Cybersecurity, disaster recovery, Data Management, Business Continuity

No Shirt. No Shoes. No Card. No Service.

Posted by Nicole Harper

Wed, Apr 24, 2019 @ 11:00 AM

In a digital world, how long will cash remain king?

Two recent headlines got me thinking about cash. While I can appreciate the feel of a crisp new Benjamin, I don’t carry a lot of cash or use it often. Most of my cash is used for tipping or paying for the occasional home repair. I have no shame using plastic for small purchases which really annoys my husband (he’s a Brit).

Views about cash are personal and cultural. My husband, who grew up in the U.K., prefers cash over plastic for most everyday purchases. What we do agree on is the annoyance of coin. When we get it, we drop it into a giant Erdinger glass and feed our local Coinstar machine once a year.

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Topics: Credit Unions, banking, banks, contactless, digital

Oh, the Humanity! Keeping Your Personal Touch While the Industry Goes Digital

Posted by Kevin Moland

Wed, Apr 17, 2019 @ 08:05 AM

In the middle of his emotional description of the horrific Hindenburg disaster, American radio journalist Herb Morrison blurted out, “Oh, the humanity!” That phrase has since become a meme used to caricature highly emotional responses to not-all-that-tragic events.

During conversations with my software company peeps, I frequently refer to the humanities degree hanging on my wall to alert them to my lack of technical training. In college, I caught a lot of flak for my choice of major. My left-brained fellow students didn’t see much use for my right-brained education. Over the years, however, the things I studied in school have gained in value. A very positive stint in banking led to a successful financial services software career. Along the way, I picked up a good bit of technical knowledge, but my primary value was always an ability to deal with people in a technical context.

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Topics: Credit Unions, banking, banks, Online Bill Pay, digital

Tools of the Trade Series, Part Six - Automating Loan Renewals for Future Growth

Posted by Patrick True

Fri, Apr 05, 2019 @ 07:00 AM

We have reached the last segment in our Tools of the Trade series, but in many ways, it is the most important. The act of renewing a loan or line of credit represents the continuation of an existing relationship. While it may not generate as much income as a new loan request, it supports an existing revenue stream and opens the door to future growth.

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Topics: Commercial Lending, financial services, loans, portfolio management, loan renewal, investment strategy

Marketing Your Institution: Understanding Generations - Part III: How Your Institution Can Retain Boomers

Posted by Strategically Speaking

Wed, Apr 03, 2019 @ 10:01 AM


Millennials and Gen Zers may be nipping at the heels of Baby Boomers (born between 1946 and 1964)[1] … but they haven’t caught up yet. While developing strategies to attract and retain younger generations of customers remains paramount to the future success of institutions, it would be careless to exclude today’s most lucrative group from your marketing efforts.

The Boomer generation still controls 70% of the nation’s disposable income, and over the next two decades, spending by Americans over age 50 is projected to increase by 58% – whereas ages 25-50 will only grow by 24%.[2] And yet, organizations are spending 500% more on marketing to Millennials than to any other demographic group.[3] Unfortunately for community banks and credit unions, this oversight has led to nearly 25% of all Boomers being unhappy with the banking industry and 12% being actively disengaged with their primary institutions.[4] 

So, what can institutions do to make their Baby Boomer customers happy and increase retention rates? 

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Topics: Credit Unions, banking, banks, Marketing, Baby Boomers

Marketing Your Institution: Understanding Generations - Part II: How Your Institution Can Market to Gen Z

Posted by Strategically Speaking

Mon, Apr 01, 2019 @ 07:36 AM

The oldest among the rising generation known as Gen Z is turning 22 this year, which means this demographic has never known a world without cell phones and the Internet. Pew Research Center defines Gen Zers as anyone born after 1997, and Millennials as persons born between 1981 and 1996.[1] While Millennials grew up with landlines and dial-up Internet, Gen Zers are true digital natives whose instinctual relationship to technology leads them to expect instant and convenient everything.

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Topics: Credit Unions, banking, banks, Marketing, Gen Z

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