Operating a bank is expensive. The costs can be overwhelming after considering all the reasonable costs incurred with the administration of managing the flow of money for customers. When looking through the lens of an accountant, walking into a local…
Banks and credit unions pride themselves on providing the best advice to their customers and living up to the expectations they set forth in their mission statements. Each institution feels they have a unique value proposition to articulate. We see…
Did you know your bank could be responsible for the performance of your vendors? No bank wants to encounter regulatory trouble or face reputational risk; especially as a result of vendor activities. It’s a well-known fact that vendor management due…
Where do I start? One important aspect of building engagement and loyalty with your customers is providing solutions and products that contribute in a meaningful way to their financial well-being, such as insurance. However, finding a third party marketer that…
When considering whether or not a financial institution should outsource the ever-growing demand for data analytics services, there are a few things to keep in mind. First of all, financial institutions, no matter their size, can benefit from implementing a…
Credit unions already have a mountain of member data that can be a gold mine for understanding members, their needs, and what motivates them. Utilizing data to drive a smarter approach to marketing is the key to building a personalized…
What is Smarter Marketing? Product-of-the-month marketing lacks relevance and often is out of alignment with the bank’s commitment to focused customer engagement. There’s no intimacy, no personal touch, and it doesn’t inspire the feeling that “my bank knows me.” We…
Adding insurance offerings to a credit union’s portfolio can do more than bring in a new revenue stream–it can strengthen member relations and loyalty. “In 2018, it is more important than ever for credit unions to find new and unique…