THE IMPORTANCE OF CUSTOMER EXPERIENCE PART II

July 19, 2024Posted inGeneral Management, Retail
This article is a perfect follow up to my recent article on the importance of customer experience and perception. It is a summary of an interview conducted by David Martin of Julie Mayrant, the dynamic, ever-vivacious leader of Woodforest’s consumer bank. Woodforest’s roots are in consumer banking. It has over 740 branches in 17 states, mostly located inside Walmart and catering primarily to America’s working class. While much has been written about the importance of…

Outsourcing

May 22, 2024Posted inGeneral Management
Banks are looking for ways to reduce expenses as loan growth is anemic in most places, deposit costs are rising, NIM is shrinking and consumer fee income continues to evaporate. One solution that has not been on the table in the past for most institutions is emerging as a viable option for routine tasks: outsourcing. Providing jobs domestically is still and should always be the top priority for all of us, but economics also play…

Leadership Lessons from Successful Veteran CEOs

May 9, 2024Posted inGeneral Management
A few outstanding CEOs have recently retired from their positions after an illustrious career. They took their respective banks to new heights, contributed hugely to the economic success of their communities, shareholders, and employees, and got there using their path and strengths. There is so much to learn from their body of work. Below are the insights shared by two such CEOs at their retirement dinners. These are real-life lessons, a gift from these stellar…