I referenced my bank, Citizens Community Bank (CCB) in a recent blog post discussing how difficult it is to be a bank. Many non-banks wanting to offer financial services find that existing rules and regulations make it difficult to do so. However, CCB performs a wide variety of banking services with a perfect blend of […]
Author Archives: David Peterson
The Innovation Challenge – Are You Up For It?
Most companies are well-run and operate with a reasonable level of efficiency. The very best companies, though, are not satisfied with being “just ok” and work to constantly improve, innovate, and evolve to enable creativity that leads to innovation-driven growth. I have written extensively on the need for Innovation-Driven Growth (you can check out these […]
If Banking Was So Easy, Everyone Would Already Be Doing It: Part 2
If you have read my recent post on banking with online non-banks (if you haven’t, it can be found here), a good follow up to it would be a recent article from The Financial Brand, “Eight Challenger Banks Traditional Banks Should Worry About.” I would highly encourage you to read the article before continuing to […]
If Banking Was So Easy, Everyone Would Already Be Doing It!
While perusing my daily news stories related to financial services, I came across this article from The Financial Brand. It discussed a study concluding 58% of potential account switchers, including those already looking to move from their existing financial services provider, would consider an “alternative” provider like Apple, Facebook, Google, or Amazon. Not surprisingly, Millennials […]
If You are Perceived to be Delivering Bad Service … You Are
Recently, I was in Houston running a bit late to the Hobby Airport. The Hertz return center is off-property, but they have a separate lane for those who can get an electronic copy of their receipt. Normally, you can simply pull up, grab your stuff, and walk away, but since I wasn’t at the airport […]
Efficiency Doesn’t Mean Someone Gets Fired …
Once again, my perusal of PYMNTS.com yielded a great story. The story highlights the changes retailers have experienced throughout the use of self-service. The early assumption for self-service was it would reduce headcount and be a money saver. However, that turned out to be untrue. Instead of merely letting those performing transactional services (i.e. check-out) […]
Think It’s Easy to be an FI? Think Again …
During my daily review and read routine, I always check out PYMNTS.com, as I find their articles relevant and well written. Here is a story from their December 21st feed. This article highlights the plight of an internet-only entity posing as a financial institution called Robinhood, and the issue of deposit insurance. As I have […]
Gift Wrapped “Thrills and Delights”
The minute December comes around the corner, schedules undoubtedly fill up with holiday parties. At U.S. Dataworks, it’s no exception. We planned our small holiday party for a Friday afternoon in mid-December. We would have snacks and adult beverages—but most importantly, a white elephant gift exchange. For those unfamiliar with the concept, in a white […]
Banks Are Not Telling Their Stories
I frequently scan the news, particularly when it relates to financial services, and one fact is inescapable: current generations will not conform to the methods of traditional financial services as previous generations have. Some financial experts will disagree, but there is a big difference between individuals who used to need access to accounts and payment […]
Being Creative in Any Situation
I recently needed to have an online meeting while I was at the Oklahoma City airport. While I wouldn’t normally schedule this type of presentation with the knowledge that I would be in a public space, circumstances aligned that this could not be avoided. I got to the airport with plenty of time to spare […]