Banker To Banker

More Digital Banking Madness -Picture of a basketball

After our first round of head-to-head competition, we were sorry to see some digital banking solution providers go. Similar to the NCAA Men’s and Women’s teams (We are still heartbroken over UCF), some of these solution providers were good, it just wasn’t their time. Many of the banking platforms didn’t make it as they were not true cloud-based, didn’t have our desired architecture or had little in the way to support business banking.

 

Commercial Lending

Many community bankers are experiencing competitive pressures when competing for higher quality credit, relationship-driven accounts.

Apple Credit Card

In American Psycho, the lead character, Patrick Bateman lusts after a rival’s credit card aesthetics. He is impressed by the color and thinness of the card. We now know how he feels. Apple just produced a card with no numbers, no expiration date, no CCV number and a look that will turn heads. It is a thin, all-white card that is made of titanium that is then laser etched - it has become a status symbol literally overnight.

 

The Cool Factor

 

The Changing Face of The Checking Account

Take away checks from a checking account and what do you have left? What you have is a “core banking account” that is cheaper for banks to set up and less expensive to maintain. You also have a paradigm shift in product delivery that banks need to come to terms with in order to stay competitive. While the latest update by the Federal Reserve shows the number of checks processed last year fell 5.2%, banks should get ready for acceleration with the increase in person-to-person payments from the likes of Zelle and Venmo.

The Future of Libor

Earlier this month, The Federal Reserve released a framework that would allow the creation of a term SOFR market based on SOFR futures. One of our milestone steps that were required before CenterState switches over to the Secured Overnight Financing Rate (SOFR) was a robust term market and creating a framework was the first step. In this article, we give an update on that SOFR term market, discuss the latest with the BYI Index and provide banks with an updated timetable.

 

SOFR Term

Bank Marketing Personalization

Our article early this week on bank website productivity (HERE) garnered an avalanche of feedback. One of the most common questions was to expand on more details around personalization. Since we are in the process of upgrading our site to handle personalization, we wanted to explain the what, how and who of our effort in case you are looking to jump your website’s capabilities.

Deposit Management

Every year we analyze the historical cost of funding earning assets (COF) for all banks in the country.  We perform this analysis on every bank from 1990 to the present to understand the drivers of COF, how banks can improve performance by controlling their COF and how funding costs will behave in the future.

Bank Website Redesign

If you are looking for the most undervalued asset on your bank’s balance sheet, it is probably your website. A good website gets ten times the traffic that the branch network gets and can dramatically shorten the sales cycle. Since most prospects and customers attempt to check the site for information, a website focused on the customer experience is central to increasing the site’s efficiency. In this article, we touch on some easy improvements that banks can make to turbocharge both usability but conversions.

 

Digital Banking Platforms

Not only are the NCAA Basketball brackets set, but we have finalized our digital banking competition as well. While our criteria stood the test for a couple of hundred banks that commented on it or we had interviews with, we have had to expand our brackets from 18 to 24 contenders as it seems that we left several off.

 

Our (Semi) Final Criteria

 

More Profitable Customers

Every banker is comfortable using averages to describe financial performance.  We all use mean, median or mode to help explain and understand financial performance and historical achievement.  Unfortunately, analyzing performance based on averages impairs success for many banks.  For example, on average a bank’s achievements are reflected in the income statement and the balance sheet, but that average is composed of many products, relationships, branches and bank officers whose respective performance is widely dispersed above and below the average.  Understanding which products, customers a

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