A Reminder: What Customers Really Want – The Definition of Top-Notch Service

June 19, 2024Posted inOperations, Uncategorized
Customer Experience has become a term of art in our business, as well as in many others. Banks have whole departments and senior executives dedicated to perfecting that experience from inception, the first time a prospect contacts the bank through any channel, until the relationship's conclusion, hopefully, many years later. Banks have spent billions of dollars on Customer Experience, largely on technology, in an effort to reduce friction points and make all bank interactions easier.…

The Changing Food Scene

June 6, 2024Posted inNewsletters
Dick and I have been food lovers for many years. Food is central to our lives, how we spend our time and money, and how we get pleasure.  The credit goes to my father, who taught me from a very young age that food consumption isn’t just about subsistence but much more. It involves the pleasure of the dining experience, sharing it with friends and acquaintances, and using it to connect with others and learn…

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…