How great is chat—the ability to receive quality support without having to be stuck on the phone? Beautiful! Recently, I was looking for the email address of a local Office Depot in Oklahoma City, so I accessed the specific store’s website, assured I would easily find the email address for the delivery of a print […]
Category Archives: Management
The Need for Self-Service Training
I was chatting with a group of U.S. Dataworks, Inc. employees about self-service and my belief that good self-service trumps great personalized service. We agreed this is generally true, though one of my incredibly cerebral programming staff, Eric, noted how many patrons of the grocery stores where he shops should need to qualify before using […]
Why Banking is Failing at Cross-Selling Fee Services
I recently read an article from The Financial Brand outlining the problems financial institutions have in cross-selling services with associated fees. The article compares data from Amazon Prime sales to the lack of success FIs have had in selling fee-based services. They found, even when Amazon raised the price for the Prime service, subscribership increased. […]
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!
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 […]