Banking vs. Digital Banking:  Branches Still matter

Posted inOperations
Regulators are subtly shifting their position about digital banking, They now require reporting of digital deposits and wholesale deposits (e.g. FHLB borrowings) together. Is that a capricious move or do they know something we don’t? Digital banking is ubiquitous. From mobile apps and online portals to contactless payments and AI-powered support, customers are managing their finances faster and more conveniently than ever. For many, especially mobile-first users, banking often means never setting foot in a physical branch.…

Managing All Aspects of the Customer Experience

Posted inSales Management
Every few years Dick and I visit an establishment that appeals to us on every level. Such places have been hotels, guides, restaurants etc. Last week we had the pleasure of experiencing bliss once more, and I wanted to share it with you. The cycle of CX (Customer Experience) has come and gone. It was the last word a decade ago, blossomed into CX departments that ended up becoming customer complaints aggregators and resolvers, and…

Credit Expectations and Concerns for the Remainder of the Year

Posted inFinance
Solid credit is one of the pillars of strong bank management, as well as one of the two main causes for bank failures (the second being poor interest rate risk management). The year 2023 was a notable exception to the rule, when SVB and others failed due to liquidity concerns. In my opinion, those failures were associated with the same critical principle that causes credit-based failures - concentrations. Diversification of risk is the bedrock of…