The issue of how you can improve the customer experience cannot be adequately covered in a few hundred words. Let me give two examples, one dealing with the digital / online experience and one dealing with the physical branch. If you are like most FIs, you have multiple online banking systems. Typically, you would have […]
Category Archives: Millennials
Innovation in Charitable Giving
Charities are finding it increasingly difficult to raise the money they need. Changes in tax laws certainly have had an effect, but the biggest adjustment is merely the march of time. Think about it: how do most nonprofits raise money? They have an annual fundraiser—some big event where well-heeled, high-networth individuals are wined, dined, or […]
Best Bank in Valdosta … and Not Just Cause I’m Sayin’ It
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 […]
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 […]
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 […]
Counting the Apples in a Single Seed …
Every July, I teach at the University of Colorado’s Graduate School of Banking for two weeks. This is an amazing experience for these bankers since they are being groomed by their institutions to become future leaders. Many of the students I teach will become C-Suite members in the years to come, so I take my […]
SockGiving? Creating a Blueprint for Others to Follow
One of the most exciting things I get to do is assist startups. From time to time, I get to talk with energetic young people who have ideas for a new company. If they approach me in the right way, I will make time for them and impart whatever wisdom is appropriate. But sometimes, the […]
Reverse Brainstorm To Great Insight
In July, I teach two weeks at the Graduate School of Banking at the University of Colorado (GSBC). One of my students once showed me a great video called “7 Ways to Maximize Misery.” The idea is to get people to focus on happiness by showing how absurd it is to embrace being miserable. I […]
Millennials and Y=X Thinking
One of the presentations at #TheDestinationExperience was fromMichael Lee-Chin, Chairman of Jamaica’s Economic Growth Council, who had us from the start with his use of a white board and a math equation to illustrate a concern about young professionals: Y = X Chin’s theory is that most millennials think that their careers will progress along […]