David L. Peterson

International Speaker, Bestselling Author, Serial Entrepreneur, Shipwreck Survivor

Innovation ThinkTime

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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 yet, I had to have a Hertz shuttle bus deliver me to the terminal. Typically, there is a five-minute or less wait. That was not the case this afternoon. Initially, I was the only person waiting, so it’s possible a shuttle had just left before I arrived. From where I was, though, I could see two parked Hertz shuttle vans with drivers inside, not coming to pick up passengers. After about 10 minutes, one shuttle van moved about 150 feet away, but still did not come to get us. More people were …

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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) continue doing just that, smart retailers have converted them into consultative sellers. What does this mean? There are more employees helping where it really matters. Customers very often need information, advice, and direction. Without someone to provide these, customers are left frustrated, and any hopes of them coming back happily are out the window. Based on my personal experience (and observation), crowded staffed …

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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 written before, all regulated financial institutions have deposit insurance either through the FDIC (banks) or the NCUA (credit unions); both of these organizations ensure deposits at their institutions up to $250,000. This is a critically important element for members who are placing hard earned money into a financial institution. If the institution were to fail, the FDIC or NCUA would make the depositor whole, up to the $250,000. I think that’s pretty …

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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 elephant gift exchange, each person in the group gets a turn in selecting a gift, without an indication of what is inside or who it’s from. It is often the highlight of most holiday parties and as thus, I felt I needed to step up my game in purchasing a gift. However, finding a good gift was the least of my worries. My problem was getting it wrapped. Back in Georgia, I could rely on my wife Samantha and her nearly professional wrapping …

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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 services, and our digital natives. Their experiences are driven by their overall access (and success) online via mobile devices, versus a more traditional banking approach to account services. Today’s financial institutions have a range of services that should appeal to younger customers, but I find they’re missing a crucial piece—they aren’t telling their story (FIs are not good storytellers...and stories resonate with people, not …

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