Banking

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  • Former First Hawaiian Bank manager admits embezzling $2.6M

    Commercial Banking News - Commercial Banking News Headlines | Bizjournals.com
    27 Jan 2012 | 6:49 pm
    A former manager of First Hawaiian Bank branches on Oahu and the Big Island pleaded guilty Friday to a federal charge of embezzling more than $2.6 million, the U.S. Attorney’s office said. Lani Ann Miho, 52. a bank employee for 29 years, was a branch manager and personal banking officer at First Hawaiian Bank branches on Oahu and the Big Island from 2000 to September 2010, U.S. Attorney Florence T. Nakakuni said in a statement. During that time, Miho created about 56 accounts under different names, withdrawing money and using proceeds from recently opened accounts to pay balances due on…

  • 51 Stats for Gen Y Marketers

    OptiRate
    Serge Milman
    26 Jan 2012 | 11:44 am
      If your Community Bank or Credit Union is marketing to Gen Y, then you will find these 51 stats to be of great interest as written by Ekaterina Walter on TNW. Read more at http://BankBlog.OptiRate.com

  • FIS Mobile Wallet Powers Innovative Mobile Payments Solution

    Payments News - from Glenbrook Partners
    Payments News Editor
    26 Jan 2012 | 12:54 pm
    FIS, "the world’s largest provider of banking and payments technology", has announced an innovative mobile payments solution that allows consumers to use most smartphones to make purchases at the point-of-sale (POS) and for online shopping. This cloud-based payment solution is adaptable and secure, requiring only downloadable applications for both consumers and retailers. Importantly, the mobile payments solution can be built into retailers’ and financial institutions’ existing mobile applications, preserving brand equity and strengthening customer loyalty.

  • It’s Not About the Language

    Gonzobanker.com
    Bill McFarland
    20 Jan 2012 | 3:27 pm
    Bankers seem to have lots of questions right now about the continued relevance of COBOL in their organizations. “When are we going to dump this old COBOL software and go to something modern?” “How can our bank compete using this old language, initially developed in 1959?” “What’s the matter with you, Mr. or Ms. CIO, that you haven’t moved us into the modern world?” Our Gonzo take? Bankers, get over it! COBOL will be the most-used programming language for business applications, and for banking specifically, for the next 25 years, just as it has been for the last 50 years.

  • Who the hell needs biometrics in banking?

    Most recent posts | swiftcommunity.net
    27 Jan 2012 | 2:01 am
      Biometrics isn’t discussed that much at banking conferences these days. Most of the...
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    Gonzobanker.com

  • It’s Not About the Language

    Bill McFarland
    20 Jan 2012 | 3:27 pm
    Bankers seem to have lots of questions right now about the continued relevance of COBOL in their organizations. “When are we going to dump this old COBOL software and go to something modern?” “How can our bank compete using this old language, initially developed in 1959?” “What’s the matter with you, Mr. or Ms. CIO, that you haven’t moved us into the modern world?” Our Gonzo take? Bankers, get over it! COBOL will be the most-used programming language for business applications, and for banking specifically, for the next 25 years, just as it has been for the last 50 years.

  • The Workflow MacGyver Drought

    Kathleen Niswander
    11 Jan 2012 | 12:15 pm
    “Well, when it comes down to me against a situation, I don’t like the situation to win.” -Secret Agent Angust MacGyver Who can forget that campy but somewhat addictive television show of the late ’80s known as MacGyver – when the brainy lead character seemed to always avoid disaster with quick, creative thinking and a bit of duct tape. With all the recent bank talk about the need to improve efficiency through streamlined processes and the proliferation of powerful new workflow systems, a critical new role is emerging … the Workflow MacGyver. The Workflow MacGyver can take…

  • Faith Hill and the Education of a Frequent Traveler

    Jack Craven
    5 Jan 2012 | 1:36 pm
    Among the perks in my life as a consultant are the joys of travel – cancelled flights, bad airport and hotel food, rental cars that are anything but “non-smoking,” impatient/rude airport employees and surly fellow travelers. I have to admit, though, that on occasion, when airports and the scenery surrounding them are starting to all look the same, something happens that takes me totally by surprise. On a recent trip, as I trundled up the jet-way into the terminal, the blood slowly starting to flow again into my legs and feet, what did I hear? “HI, THIS IS FAITH HILL, AND WELCOME TO…

  • The 2011 GonzoBanker Awards

    Gonzo
    22 Dec 2011 | 11:49 am
    Gonzo readers, we’re all limping to the end of 2011 and trying to figure out this year – what exactly went on here? We have 2011 pegged as a yin and yang kind of question where you can analyze it with rose-colored glasses or blood-shot eyes – and there are arguments for both. Loan growth was tough, but credit quality encouraging. The big banks looked like goons on occasion, but community banks kept their shine. Profits are below historical averages but they sure look better than in ’09. And on the personal front, we survived. Yes, it might have been better to not have a balance on the…

  • Dear Croal Dude 2nd Verse

    Michael Croal
    15 Dec 2011 | 11:31 am
    Dear Abby meets Name that Tune in the latest installment of problem-solving strategies from Croal Dude. Feel free to sing along! Dear Croal-Dude: I hope you remember me. The last time I wrote in, that little snit Kamryn, with a “K,” was tearing up her mouse clickity-clicking all over her desk. She is sooo annoying! Well now she is my boss. After we started working those cutes with all of our daily work in it, well then she came up with the bright idea of going two-fingers-in-air quote paperless unquote and she told Dave. I don’t know why he listened to that hussy. I can’t find…
 
 
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    NetBanker

  • Suspicious Activity Messaging: When You Urgently Need to Contact Business Clients

    Jim Bruene
    26 Jan 2012 | 11:20 pm
    I get that multi-channel messaging is a mess. I understand that new regulation is creating huge backlogs in project queues. But 17 years into the Web banking era, I should be able to service my bank account entirely online, if that is my choice. And more importantly, if I've signed on for alert services, there shouldn't be any surprises when I go to log in to my account.  Yesterday, <largebank> failed me on both accounts (see note 1). With Finovate Europe less than two weeks away, we are wiring large sums to London to pay for it. My bank got a bit concerned about all this outbound…

  • FinovateEurope 2012 Hits Record Attendance with Two Weeks to Go -- Get Your Ticket Now!

    Eric Mattson
    25 Jan 2012 | 9:05 pm
    We're very excited to announce that FinovateEurope 2012 has officially blown past last year's record attendance of 450 with two weeks still to go.On February 7th in London, this year's audience will get to witness dozens of new fintech innovations debut from both cutting-edge startups and leading established companies (check out the list of presenters) via Finovate's signature fast-paced demo-only format.In case you're curious about who's attending this year, here is a (very) small sample of the organizations that have already registered: ABN AmroAmerican ExpressBalderton CapitalBank Julius…

  • The Debit Card On/Off Switch from City Bank of Texas

    Jim Bruene
    23 Jan 2012 | 11:29 am
    City Bank of Texas has been a mobile innovator for more than four years, launching a ClairMail-powered mobile site in Oct 2008. I first heard its story at the Mobile Summit in June 2009. At that time, the bank already had 10% of its online banking base using mobile. City Bank now offers a full range of apps including Android, iPhone and iPad, which make for a pretty impressive graphic. The new apps are powered by Malauzai Software.And, in a world where most apps look pretty much the same, it has managed to pioneer several unique features: Debit card on/off switch: If customers ever want…

  • Square Looks to Have Secured the Square.com Domain

    Jim Bruene
    20 Jan 2012 | 7:20 pm
    Evidently, the owner of the domain "square.com" drove a hard bargain. How else could you explain a billion-dollar tech company, Square, using a domain name with "up" in it <squareup.com>? Dorsey's Square had all the Google juice around the word, so it wasn't likely causing any lost sales. But for credibility, there is no choice but to own the basic .com version of your brand. (Plus, they would hate to get confused with the board game of the same name). It may not yet be a done deal. I don't see any confirmation of a sale on the web. Square.com is currently being…

  • Op Ed: Rise of the Feenix

    Jim Bruene
    19 Jan 2012 | 7:23 pm
    by Michael Nuciforo Editor's note: This post was written by Michael Nuciforo, a Mobile Banking Consultant at Keatan. His previously worked at ANZ on a number of developments including goMoney and more recently was Head of Mobile Banking at RBS managing the UK Retail portfolio. Banks have perfected what I refer to as the ‘negative pricing model’. In simple terms, it’s charging fees when customers make mistakes. We are all familiar with it. It is the annoying cost of returning a DVD late, or staying too long in your parking space. At present banks rely significantly on revenue generated…
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    Payments News - from Glenbrook Partners

  • Plink Launches Facebook Credits-Based Online-to-Offline Loyalty Program

    Payments News Editor
    26 Jan 2012 | 1:08 pm
    Plink has launched a Facebook Credits-based loyalty program that rewards Facebook members for dining and making purchases at their favorite restaurants and offline retailers. "Facebook Credits is the missing ingredient that's been needed to connect social media to offline sales," said Peter Vogel, co-founder of Plink. "Now with the 'glue' of Facebook Credits our national restaurant and offline retailer partners have a way to tap into the nearly 800 million users on Facebook, motivate them to become loyal customers, and reward them." Plink is a new company on Glenbrook's radar screen. For more…

  • LevelUp Introduces Custom Hardware Line to Accelerate National Rollout

    Payments News Editor
    26 Jan 2012 | 1:02 pm
    LevelUp has announced a new custom hardware line for merchants. Merchants can sign up for LevelUp (for free) and be up and running in minutes. "Open the box, turn on the T-Mobile terminal, plug it in, and you're connected to the LevelUp nationwide payment network. It's that easy."

  • New Study Examines the Aftermath of Data Breaches

    Payments News Editor
    26 Jan 2012 | 12:59 pm
    Experian Data Breach Resolution and the Ponemon Institute have released survey findings from more than 500 IT professionals who have experienced a data breach at their company. "The responsibility of keeping customers' information secure cannot lie solely on the shoulders of IT; rather every executive in the organization should be aware since the reverberation of a breach will be felt by everyone," said Ozzie Fonseca, senior director at Experian Data Breach Resolution. "Survey results show us that a data breach is often the result of human error or a crime– neither of which can be 100…

  • FIS Mobile Wallet Powers Innovative Mobile Payments Solution

    Payments News Editor
    26 Jan 2012 | 12:54 pm
    FIS, "the world’s largest provider of banking and payments technology", has announced an innovative mobile payments solution that allows consumers to use most smartphones to make purchases at the point-of-sale (POS) and for online shopping. This cloud-based payment solution is adaptable and secure, requiring only downloadable applications for both consumers and retailers. Importantly, the mobile payments solution can be built into retailers’ and financial institutions’ existing mobile applications, preserving brand equity and strengthening customer loyalty.

  • CorFire & SNAP to Bring Social Networks to Mobile Commerce

    Payments News Editor
    26 Jan 2012 | 12:51 pm
    CorFire and SNAP (Social Network Appreciation Platform) have announced plans to integrate the SNAP platform into CorFire’s mobile wallet solution, CorPay, and its suite of mobile marketing services, Cor360. The combined solution will provide a one-stop shop to enable QSRs and other retail segments to connect their m-commerce apps to social networks such as Facebook, Foursquare, and Twitter. Consumers are enabled to post pre-defined messages and check in automatically on their social networks each time they use their mobile merchant-branded payment cards, vouchers, and loyalty cards at the…
 
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    The Bankwatch

  • Global Risks 2012 | WEF

    Colin Henderson
    24 Jan 2012 | 11:11 pm
    This from the World Economic Forum as it opens tomorrow.  Major systemic financial failure remains at the top in terms of impact, but less likely than water or food shortages.  Click the pic for the full pdf. Filed under: Uncategorized

  • The Volker Rule: Allow customers decide where their money should be

    Colin Henderson
    23 Jan 2012 | 11:55 pm
    This piece from Douglas J. Elliott, Fellow, Economic Studies, Initiative on Business and Public Policy at Brookings does an excellent job at highlighting what it is that investment bankers just do not get about life in the real (banking) world. The Volcker Rule and its Impact on the U.S. Economy First off I like the Glass Steagall/ Volker Rule approach to banking.  I believe it provides clarity and lucidity to people and allows them to frame their lending and investment approaches within their own personal context.  It also allows governments to quantify their contingent liability…

  • The real reasons for offshore outsourcing of manufacturing become clearer

    Colin Henderson
    22 Jan 2012 | 6:08 pm
    This is a seminal article and one that western companies and governments should study.  The general assumption is that manufacturing work is outsourced overseas due to lower wages.  Not so. How the U.S. Lost Out on iPhone Work | NY Times Apple executives say that going overseas, at this point, is their only option. One former executive described how the company relied upon a Chinese factory to revamp iPhone manufacturing just weeks before the device was due on shelves. Apple had redesigned the iPhone’s screen at the last minute, forcing an assembly line overhaul. New screens began…

  • UK Cameron moves to use Government ownership influence with Banks to address their lack of acceptance of role in 2008 crisis

    Colin Henderson
    19 Jan 2012 | 12:33 pm
    As it became clear in 2009 the influence of Government on banks that the took control of that year had to become a consequential factor in how those banks operate.  My hypothesis at the time was that those banks would lose the innovation incentive and in effect become utilities that provide a basic banking service. I am surprised it took this long, but David Cameron has made the first consequential step by setting a very low limit on bank bonuses on RBS and it appears to also impact all government owned banks so Lloyds and HBOS too.  The piece is headlined in reference to the…

  • “We’re in the midst of a fundamental restructuring of that financial services industry” | Carney

    Colin Henderson
    15 Jan 2012 | 9:39 pm
    This piece in the FT talks about the FSB (Financial Stability Board).  I had to remind myself that the FSB is the G20 designate to fix the banking system, and not the KGB successor.  The quote in the title indicates the goal of the group but the reality of the need for this piece indicates that it is not being taken too seriously yet, hence we must remember … FSB.  The good news is that the FSB has one of the better and clear thinking Central Bank governors in Mark Carney.  The challenge that is faces is critical for the world. Filed under: Uncategorized
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    Commercial Banking News - Commercial Banking News Headlines | Bizjournals.com

  • Former First Hawaiian Bank manager admits embezzling $2.6M

    27 Jan 2012 | 6:49 pm
    A former manager of First Hawaiian Bank branches on Oahu and the Big Island pleaded guilty Friday to a federal charge of embezzling more than $2.6 million, the U.S. Attorney’s office said. Lani Ann Miho, 52. a bank employee for 29 years, was a branch manager and personal banking officer at First Hawaiian Bank branches on Oahu and the Big Island from 2000 to September 2010, U.S. Attorney Florence T. Nakakuni said in a statement. During that time, Miho created about 56 accounts under different names, withdrawing money and using proceeds from recently opened accounts to pay balances due on…

  • Duane Kurisu appointed to CPF board

    27 Jan 2012 | 6:16 pm
    Honolulu businessman and investor Duane K. Kurisu has been appointed to the board of Central Pacific Financial Corp., parent of Central Pacific Bank. Kurisu has been a member of the bank’s board since 2004 and will serve on both the Central Pacific Financial (NYSE: CPF) and Central Pacific Bank boards. Kurisu has a variety of real estate, media, sports and food business interests in Hawaii and on the Mainland. His real estate investments include office buildings, shopping centers and industrial parks in Hawaii and Washington...

  • Republic Bancorp buys troubled Tennessee bank

    27 Jan 2012 | 6:13 pm
    Republic Bancorp Inc. has entered the Nashville, Tenn., market through its acquisition of "substantially all" deposits and selected assets of Tennessee Commerce Bank of Franklin, Tenn., according to a company news release. Through its subsidiary Republic Bank & Trust Co., Louisville-based Republic Bancorp (NASDAQ: RBCAA) purchased the Tennessee bank’s assets from the Federal Deposit Insurance Corp., the release said. The FDIC closed the troubled TCB this afternoon, according to a report by the Nashville Business Journal, a sister newspaper to Business First...

  • FDIC orders Mile High Banks to boost capital

    27 Jan 2012 | 6:13 pm
    Federal regulators have ordered Longmont-based Mile High Banks to boost its capital levels, categorizing the bank as “significantly undercapitalized,” according to an FDIC enforcement action made public on Friday. Mile High Banks has 13 branch locations, including in LoDo, Cherry Creek, 17th Avenue near Pennsylvania Street near downtown and the Denver Tech Center, according to its website. The Federal Deposit Insurance Corp. issued a “supervisory prompt corrective action directive” to Mile High Banks on Dec...

  • U.S. Bancorp buys failed Tennessee bank

    27 Jan 2012 | 6:07 pm
    U.S. Bancorp has purchased a failed Tennessee bank's assets, deposits and branches in a regulator-brokered deal made public Friday. The Federal Deposit Insurance Corp. shut down Knoxville-based BankEast Friday evening. The BankEast Corp. subsidiary had assets of $261.95 million and $259.57 million of customer deposits as of Dec. 31, FDIC records show. The Minneapolis-based parent of U.S. Bank will receive 10 branches, about $272 million worth of loans, and $268 million in deposits through the purchase, with an asset discount of about $67...
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    Investment Banking News - Investment Banking News Headlines | Bizjournals.com

  • Former First Hawaiian Bank manager admits embezzling $2.6M

    27 Jan 2012 | 6:49 pm
    A former manager of First Hawaiian Bank branches on Oahu and the Big Island pleaded guilty Friday to a federal charge of embezzling more than $2.6 million, the U.S. Attorney’s office said. Lani Ann Miho, 52. a bank employee for 29 years, was a branch manager and personal banking officer at First Hawaiian Bank branches on Oahu and the Big Island from 2000 to September 2010, U.S. Attorney Florence T. Nakakuni said in a statement. During that time, Miho created about 56 accounts under different names, withdrawing money and using proceeds from recently opened accounts to pay balances due on…

  • Duane Kurisu appointed to CPF board

    27 Jan 2012 | 6:16 pm
    Honolulu businessman and investor Duane K. Kurisu has been appointed to the board of Central Pacific Financial Corp., parent of Central Pacific Bank. Kurisu has been a member of the bank’s board since 2004 and will serve on both the Central Pacific Financial (NYSE: CPF) and Central Pacific Bank boards. Kurisu has a variety of real estate, media, sports and food business interests in Hawaii and on the Mainland. His real estate investments include office buildings, shopping centers and industrial parks in Hawaii and Washington...

  • Republic Bancorp buys troubled Tennessee bank

    27 Jan 2012 | 6:13 pm
    Republic Bancorp Inc. has entered the Nashville, Tenn., market through its acquisition of "substantially all" deposits and selected assets of Tennessee Commerce Bank of Franklin, Tenn., according to a company news release. Through its subsidiary Republic Bank & Trust Co., Louisville-based Republic Bancorp (NASDAQ: RBCAA) purchased the Tennessee bank’s assets from the Federal Deposit Insurance Corp., the release said. The FDIC closed the troubled TCB this afternoon, according to a report by the Nashville Business Journal, a sister newspaper to Business First...

  • FDIC orders Mile High Banks to boost capital

    27 Jan 2012 | 6:13 pm
    Federal regulators have ordered Longmont-based Mile High Banks to boost its capital levels, categorizing the bank as “significantly undercapitalized,” according to an FDIC enforcement action made public on Friday. Mile High Banks has 13 branch locations, including in LoDo, Cherry Creek, 17th Avenue near Pennsylvania Street near downtown and the Denver Tech Center, according to its website. The Federal Deposit Insurance Corp. issued a “supervisory prompt corrective action directive” to Mile High Banks on Dec...

  • U.S. Bancorp buys failed Tennessee bank

    27 Jan 2012 | 6:07 pm
    U.S. Bancorp has purchased a failed Tennessee bank's assets, deposits and branches in a regulator-brokered deal made public Friday. The Federal Deposit Insurance Corp. shut down Knoxville-based BankEast Friday evening. The BankEast Corp. subsidiary had assets of $261.95 million and $259.57 million of customer deposits as of Dec. 31, FDIC records show. The Minneapolis-based parent of U.S. Bank will receive 10 branches, about $272 million worth of loans, and $268 million in deposits through the purchase, with an asset discount of about $67...
 
 
 
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    Bank Lawyer's Blog

  • Another Assembly

    Kevin Funnell
    26 Jan 2012 | 9:40 pm
    When President Obama announced Tuesday night that he was forming a task force to crack down on "mortgage fraud," what he and many of his like-minded supporters had in mind are the robo-signing, document-falsifying, parrot-stealing large lenders and the keystone cops who work for them. Yet, the traditional understanding of "mortgage fraud" has a different emphasis, one we've been talking about since long before this crisis was a crisis. It's typified by this sorry sad sack. A former Hells Angels leader from Rohnert Park has been sentenced to nearly six years in federal prison for his part in a…

  • Story-Telling Time

    Kevin Funnell
    22 Jan 2012 | 9:44 pm
    Hey! You! No, not you Lizzie, we all know YOUR story. I'm talking to you, Mr. and Ms. Average America. Richard Cordray "Wants To Hear Your Story." So, Rich: What happened to "Rebeka From North Carolina"? Did you render her mortgage loan servicer incapable of reproduction? Was Rebeka redeemed? Is this a serial and, if so, when do we get the next installment? The CFPB loves social media and obviously wants to reach out and touch, not just someone, but everyone. Cordray says that he wants to hear your story "good or bad." So, I intend to visit the CFPB's site and tell my story: "The other day I…

  • The CFPB's Point Men

    Kevin Funnell
    18 Jan 2012 | 9:51 pm
    The news today that Recess Richie Cordray wants to hook up with the nation's mayors to sniff out those dreaded "predatory lenders" has every community bank that has been considering looking at residential lending as a possible source of revenue, now that CRE is on the regulators' "toxic waste" list, reconsidering its appetite for home loans. After all, the prospect of the true believers at "The Bureau" blowing kisses to the likes of Rahm Emmanuel as they trip hand-in-hand down the Yellow Brick Road to kick to the curb whatever home lenders they can label with the moniker "Predator" is enough…

  • Not Too Much Of A Good Thing, But Too Little

    Kevin Funnell
    17 Jan 2012 | 9:46 pm
    For some time now, we've been concerned that many young people are being snookered into forking out six figures in fees to law schools, only to find that when they graduate with a law degree and pass the bar exam, there's no room at the inn. There are simply too many baby lawyers being pushed out of the law school birthing room and not enough milk and honey in the promised land to feed them, much less pay off the exorbitant debt load they've incurred to obtain their ticket to paradise. A "law school shell game" was one description of the problem. Law school professor John McGinnis and…

  • In This Foreclosure Fracas, There Are No Winners

    Kevin Funnell
    16 Jan 2012 | 9:39 pm
    In 2009, the state of Nevada passed a law that requires lenders to go through mediation with delinquent borrowers before they can foreclose. As often occurs with such well-intentioned but half-baked pieces of sausage, the law left a number of questions unanswered. It's taken two Nevada Supreme Court decisions to put some meat on the legislative bones. In the most recent decision, the Supreme Court found that HSBC Bank had not negotiated in good faith with the borrower to modify his loan. The spin put on the results of that decision by the Las Vegas Review-Journal labels the appellate court's…
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    DailyFinance.com

  • What Would Do With a Billion Dollar Bank Error?

    Bruce Watson
    19 Jan 2012 | 1:55 pm
    Filed under: Banking, FeaturesIt's a cliche that dates back to Monopoly: A bank error in your favor leaves you with an unexpected windfall. But for Parijat Saha, an Indian schoolteacher, the Community Chest card came to life in a big way when he discovered that his bank account suddenly held $9.8 billion. "I was expecting an amount of a little more than 10,000 rupees ($200)," Saha told the BBC. The teacher, whose monthly salary is roughly $700, was stunned to find his account filled with a Buffett-level balance. He quickly notified bank officials, who subsequently announced that the huge sum…

  • Fed to Regularly Forecast Interest-Rate Changes

    The Associated Press
    3 Jan 2012 | 2:00 pm
    Filed under: BankingWASHINGTON (AP) - In a major shift, the Federal Reserve will start updating the public four times a year on how long it plans to keep short-term interest rates at record lows, according to minutes from its December policy meeting. The first forecast will be included in the central bank's economic projections after its Jan. 24-25 meeting, the minutes said. The change is the Fed's latest move to make its communication more open and explicit. It could help assure investors, companies and consumers that rates won't rise before a specific time. This might help lower long-term…

  • Citibank Turns Rewards Into 'Social Currency'

    The Associated Press
    3 Jan 2012 | 9:45 am
    Filed under: Citigroup, Facebook, BankingNEW YORK (AP) - Credit card rewards are the new social currency. Citibank (C) customers can now use Facebook to pool their rewards points online. The bank on Tuesday launched a Facebook application that lets users team up to use their points, whether it's for charity, a group gift or a personal goal. Citi says it's the first bank to offer such a feature. The app builds on a service Citi introduced last year that lets customers transfer points to one another on the bank's homepage. After getting feedback, executives decided to expand the rewards sharing…

  • The Bigger the Bank, the Worse the Customer Service

    Rich Smith, The Motley Fool
    28 Dec 2011 | 8:30 am
    Filed under: JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, BankingThe biggest bank in America isn't the one you might think. Industry monitor SNL Financial recently revealed that JPMorgan Chase (JPM) knocked out longtime rival Bank of America (BAC) for the top spot, measured by both total assets and the amount of those assets that take the form of customer deposits. (Major financial powerhouses like Morgan Stanley (MS) and Goldman Sachs (GS) didn't make the cut because they're not your run-of-the-mill depository banks.) But is bigger better? Not when it comes to customer…

  • More People Like Their Banks Than the Government

    Sheryl Nance-Nash
    21 Dec 2011 | 9:25 am
    Filed under: Economy, BankingGuess who's more hated than banks? The folks in Washington. Yes, despite the din from the Occupy Wall Street crowd, not everybody dislikes financial institutions -- at least, not their own. A new poll from the staunchly libertarian and conservative Reason Foundation and the similarly aligned Arthur N. Rupe Foundation found that 76% of Americans surveyed have a favorable opinion of their own bank, while just 15% gave it a thumbs down. View PollUncle Sam, by contrast, gets a big thumbs down. A mere 32% said they have a favorable opinion of the federal government as…
 
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    Capital Solutions Bancorp Blog

  • Avoid Tax Time Headaches with These Record Keeping Tips

    Capital Solutions Bancorp
    23 Jan 2012 | 8:33 am
    Many small business owners fear the thought of an audit. However, you don't have to quake in your boots as much if you keep thorough and organized bookkeeping records. The number one rule for bookkeeping: Have a record for everything that flows in and out of your business. You'll be prepared to answer any auditing questions and provide the required paperwork when billed for additional tax.read more

  • 9 Things You Can Do to Be More Successful in Business

    Capital Solutions Bancorp
    4 Jan 2012 | 11:07 am
    Most of us hope for a happy New Year. But what does that mean when it comes to business? For most, it's a year without problems. We both know that isn't going to happen. Problems are part of business. The sooner we accept that, we faster we can focus on getting better at what we do.read more

  • The Best and Cheapest Way to Beat the Competition

    Capital Solutions Bancorp
    30 Dec 2011 | 11:45 am
    Four words: make your customers happy. That's it. Your customers already know you, which puts you ahead of everyone. However, they will leave if your customer service suffers, your prices fall out of alignment with the industry or your product / service fails to do what customers need. You maximize the acquisition cost for your current customers by keeping clients for another month. The longer you keep customers past the break-even point of acquisition, the greater the profit.read more

  • Lower Your Year-End Tax Bill

    Capital Solutions Bancorp
    28 Dec 2011 | 10:12 am
    As we reach the end of year, some small businesses are scrambling to find ways to lower their tax bills. Here's a roundup of articles on how to save on your taxes.read more

  • Grow Your Business: Top 10 Posts of 2011

    Capital Solutions Bancorp
    22 Dec 2011 | 12:19 pm
    How did your business do in 2011? Did you grow? Stay the same? Staying the same in 2011 is almost as good as growing in 2010. Based on conversations, many successful companies that grew every year reported seeing no growth this year. Regardless of what happened in 2011, you have a clean slate and these top 10 posts will help you grow in 2012.read more
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    About.com Banking / Loans

  • Prepaid Debit vs. Secured Credit Cards

    26 Jan 2012 | 9:56 am
    If you want to use plastic when you purchase, you have quite a few options. In addition to the debit vs. credit card decision, you can choose among different types of debit and credit cards....Read Full Post

  • B of A's $5 Fee Drove Customers Away

    23 Jan 2012 | 1:25 pm
    Bank of America tried to institute a $5 per month charge for debit card customers last year, but the move turned out to be a disaster. B of A eventually scrapped plans to charge the fee, but the damage was done: customers got angry about a fee they believed was unfair....Read Full Post

  • Different Banks, Different Rates

    19 Jan 2012 | 3:21 am
    Unhappy with the interest rate on your savings account? Consider switching banks. Rates are low all over, but some banks pay more than others. Money-Rates.com recently published a study on savings account rates available nationwide. A highlight from their research:...Read Full Post

  • Bank Lending Increases

    17 Jan 2012 | 2:09 pm
    Ever since the financial crisis, bank lending has been dismal. Either it wasn't easy to get a loan, or banks claimed that not enough qualified borrowers were asking for money. Now things look different. Banks report that the amount of money out on loan is actually increasing -- for the first time in a long time. That's most likely good news for the economy. If businesses and consumers borrow money (responsibly), the economy is likely to recover; more jobs should eventually follow....Read Full Post

  • Bank Transfer Day Movement Overestimated

    11 Jan 2012 | 7:51 am
    Bank Transfer Day was an event designed to get consumers to move accounts from banks to credit unions. A lot of people participated, transferring accounts before and on the November 5th target date....Read Full Post
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    Everyone's Blog Posts - Bank Innovation

  • How Many Architects Does it Take to Screw in a Core Banking Transformation?

    George Colwell
    27 Jan 2012 | 1:56 pm
    I was in a meeting recently and everyone at a table of 15 was some sort of architect. There was the print service architect, the enterprise content architect, the security architect, the solution architect, a technical landscape architect, and multiple enterprise architects. Trying to sort out where one architects responsibility ended and another's began was extremely difficult. It seemed to me that now days everyone wants to be called an architect. The problem is that once a title like architect is given out people start to act like...well, architects. What I mean by this is that when you…

  • Credit Unions Kicking Bank A** in Social Media

    JJ Hornblass
    27 Jan 2012 | 8:00 am
    Big banks are clearly struggling with Twitter, as highlighted by The New York Times this week. Just a cursory look at, for example, Bank of America's Twitter help line shows the challenge -- and opportunities -- the banks face in social media. But are all financial institutions struggling with social media? Apparently, no. Hats off to our own fellow member Jim Marous for a valuable study on bank marketing released today, which shows, among many interesting data points, that credit unions are spanking the banks in social media. Jim, in his analysis, highlighted the challenges FIs face…

  • FIS Now Lets Banks Brand Their Own Digital Wallets

    Mary Wisniewski
    27 Jan 2012 | 7:30 am
    Core banking provider giant Fidelity National Information Services (FIS) just opened up even more digital wallet possibilities (and chaos) in the United States by announcing its own cloud-based wallet that FIs and retailers can white label. Like other digital wallets, the FIS Mobile Wallet app lets consumers use their smartphones to make purchases at POS and for online shopping purposes, too. But this time, the wallet can be branded by the banks, which may give the offering an edge with consumers and certainly expands the ways in which banks can market to their customers.  “We are giving…

  • Brett King Wants to Overhaul Your Branches

    Mary Wisniewski
    25 Jan 2012 | 2:30 pm
    RIP, branch banking? Well not quite, but today Brett King, founder of yet-to-be-born online banking storefront Movenbank, released his latest book: Branch Today, Gone Tomorrow: The Case for the Death of Branch Banking that will surely investigate the channel’s future. From Amazon’s description of the book: Branch Today, Gone Tomorrow is a detailed, multi-faceted business case for the reprioritization of branch banking in the channel mix. It explores economics, behavioral shifts, trust issues facing banks, new retail distribution models and drivers challenging the branch-centric models of…

  • Bank of America to Jump on the Groupon Bandwagon in Second Attempt to 'Sell Webkinz'

    JJ Hornblass
    24 Jan 2012 | 7:00 pm
    Bank of America, it seems, will begin testing a Groupon-like deals program, apparently called BankAmeriDeals, Reuters is reporting. The second-largest bank on Wednesday will start testing a new service that will allow customers to rack up savings from retailers based on their previous spending patterns. Customers will receive offers through the bank's online banking website. The discounts will be awarded in the form of cash payments once a month. Customers need not sign up for emailed coupons or check a separate web site, as bargain hunters do with offerings from Groupon Inc and others. Bank…
 
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    The Financial Brand: Marketing Insights for Banks & Credit Unions

  • Bank’s Innovative Charity Portal Gives Gift Cards The Right Way

    Editor
    26 Jan 2012 | 8:32 pm
    ATB Financial has launched a new corporate giving initiative centered around an innovative online charity portal. ATBCares.com is the bank’s own proprietary destination website where people can purchase charitable gift cards that allow recipients to choose where their donation goes. The problem with most charitable gift cards is that the “donation on your behalf” usually goes to a cause important to the giver, not the receiver. But with ATBcares.com, it’s up to the recipient to choose which charity they want to support from among a list of 84,000 different organizations. The recipient…

  • Customers Hold Grudge Against The Banks That Blew Their Trust

    Editor
    25 Jan 2012 | 10:47 pm
    “The banking industry as a whole still has a long way to go to rebuild its reputation and win back the advocacy of its customers.” Peter Kirk — Accenture According to a study from Accenture, banks still have a long way to go to repair and improve relationships with their customers. The study suggests consumers who got burned in the financial meltdown are holding a grudge against the banks they blame for today’s economic mess. Accenture’s research revealed that banking customers are less likely to recommend their provider than last year, despite being more satisfied with the…

  • The Nominees For Oscars In The Financial Industry Are…

    Editor
    24 Jan 2012 | 2:01 am
    The Financial Brand looked at hundreds of bank and credit union videos produced in 2011. Here are 15 of the best. (Please note: This article embeds YouTube videos.) Best Use of a Celebrity Spokesperson Financial Institution: DnB, Norway Title: Good Morning Mrs. Clooney This spot is like a 30-second version of “The Hangover” for women. You wake up in a hotel room. You’ve obviously had a rough night. You look down at this ginormous rock on your ring finger. You’re married? You weren’t yesterday. You pick a wedding dress off the floor. Before you can think “What have I done???”…

  • Financial Firm Green Lights Social Media For All 1,000 Employees

    Editor
    23 Jan 2012 | 2:01 am
    This isn’t the first time a financial firm has entrusted its employees with social media. Other banks and credit unions, mostly small ones, have given the social media go-ahead to a few select staff members. But Wedbush Securities, with 1,000 employees distributed across 100 different offices, is anything but small. And they’ve given the thumbs-up on social media across their entire company. Everyone. Wedbush describes their approach as a “compliance friendly way for financial professionals to actively join the dialogue.” The company is encouraging all of its financial advisors,…

  • Your Insights & Quotes Needed: In-House Marketing, Creativity, Ad Agencies

    Editor
    20 Jan 2012 | 12:38 pm
    Want to get quoted on The Financial Brand? Here’s your chance. Your insights are needed for a few potential stories The Financial Brand would like to publish. If you have something you’d like to contribute, either leave a comment below, or send an email to the editor. If you’d prefer your quotes remain anonymous, that’s fine. But if you want attribution for your insights, please be sure to provide your full name, title and current employer. Article #1: Keeping Creativity Alive in Financial Marketing A recent guest post on The Financial Brand raised some really good…
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    MyBankTracker.com

  • Weekly Wrap: The Low Rate Environment Takes its Toll

    Willy Staley
    27 Jan 2012 | 4:02 pm
    This week’s big news for the banking industry was the beginning of the Federal Reserve’s experiment in transparency. For the first time, they made public their interest rate forecasts. Now, both consumers and banks are aware of the central bank’s inflation and interest target rates, and about the latter we learned it will be staying [...]

  • Wag the Bank? New Bank Concept Targets Dog Lovers

    Marina Shifrin
    27 Jan 2012 | 12:57 pm
    What’s the quickest way to a customer’s heart? Cater to their dog. One man is attempting to win over customer loyalty by targeting dog lovers with Wag Bank. Although it has ‘Bank’ in the name, Wag Bank isn’t exactly a bank. Much like PerkStreet and Simple, Wag Bank just presents an interface for you to [...]

  • Travel On These Dates For The Cheapest Deals

    Marina Shifrin
    27 Jan 2012 | 11:06 am
    Finding the best travel deal takes a combination of luck and skill. Some stumble on the perfect tickets to exactly where they are going for a ridiculously cheap price while others know tips and tricks to buying tickets. There is a lot of speculation on when to buy, and the team at Main Street thinks [...]

  • No Balance Transfer Fee Offers Reappear But Hard to Exploit

    Simon Zhen
    27 Jan 2012 | 9:50 am
    A few years ago, there were plenty of avid savers who took advantage of credit card offers — that didn’t charge balance transfer fees — by stashing borrowed funds in a high yield savings account. Those offers disappeared but are starting to show up again. This time around it’s harder to pull such an exploit. It was [...]

  • If Only U.S. Banks Celebrated Milestones By Forgiving Minor Debts

    Willy Staley
    27 Jan 2012 | 8:45 am
    In Paris, a bank that has been in business since long before the French Revolution, Credit Municipal de Paris, celebrated its 375th birthday by forgiving the debts of 3,500 of its clients, reports GOOD. All customers with debts smaller than 150 euros were forgiven, the bank “simply [wiped] their slate clean.” The bank, was “a [...]
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    Payments Views from Glenbrook Partners

  • Who Knows What In Payments?

    Russ Jones
    27 Jan 2012 | 6:53 pm
    Who knows what in payments? Sounds like a question begging for a snappy one-liner comeback. But this is a question we hear more and more from our clients. Particularly those that see the increasingly close relationship between payments and marketing — and want to better understand how the targeting of ads and offers can be enhanced with insight from payment transaction data. The real question, then, is who knows what in payments and do mobile wallets change anything? I’ve discussed the underlying purchase “visibility” issue before and argued that few players in the…

  • PayPal @ POS: My Field Trip Report

    Russ Jones
    20 Jan 2012 | 2:08 pm
    I went by the San Carlos Home Depot on the way to the Glenbrook office this morning and used PayPal’s “Empty Hands” to pay for my purchase. The whole thing worked and I left the store with a Home Depot receipt that listed my payment method as “PayPal” instead of “Visa XXXXXXXXXXXX9297″. Here’s the in-store sequence I experienced. After grabbing what I needed, I decided to go through one of their assisted checkout lanes because I didn’t know if Home Depot had enabled both assisted and unassisted checkouts as part of their trial with PayPal.

  • The First Natural Law of Mobile Payments

    Russ Jones
    19 Jan 2012 | 3:28 pm
    I realized today that mobile payments have “jumped the shark” as an emerging payments topic, and are now helplessly mainstream in the public’s mind. With USA Today and the Wall Street Journal on top of the story week to week, I find myself cringing at the confusion in the popular press. What put me over the top was the media coverage about PayPal doing a beta test of its “mobile payment” solution with Home Depot. The stories were accurate in terms of describing what is being tested, but failed to notice that there is no mobile device actually involved in the…

  • What You’re Reading – 2011

    Scott Loftesness
    19 Jan 2012 | 3:22 pm
    Curious about what payments professionals were reading last year? Here are the top books ranked by sales made through our Payments News Book Store on Amazon.com: Payments Systems in the U.S. – A Guide for the Payments Professional Written by Carol Coye Benson and Scott Loftesness of Glenbrook Partners, this book provides a comprehensive description of the systems – (cards, checks, cash, ACH, etc.) that move money between and among consumers and enterprises in the U.S. In clear and lively writing, the authors explain what they systems are, how they work, who uses them, who provides…

  • Verizon’s $2 Bill Pay Fee: Do We Call Them Crazy?

    Russ Jones
    11 Jan 2012 | 7:59 am
    Over the winter break, Verizon announced (and then retracted) that it would begin to charge customers a $2.00 convenience fee in 2012 to pay their monthly bill online or over the phone — except in a multitude of cases “where the fee is waived or where no fee applies”. Huh? That’s what we said, too. But our confusion didn’t last long. It turned out this bold pricing move had a shelf life of less than 48 hours, as the company quickly heard from outraged customers and saw the obvious parallels to the still smoldering Bank of America debit card fee fiasco. So,…
 
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    BBR - News

  • Tompkins Financial to acquire VIST Financial

    27 Jan 2012 | 6:12 am
    Tompkins Financial Corporation has agreed to acquire VIST Financial Corporation in an all-stock transaction valued at about $86m as it looks to expand its presence Southeastern Pennsylvania region.

  • Invesco Q4 net income up 15.5%

    27 Jan 2012 | 5:51 am
    Invesco has reported a net income of $202.3m or $0.44 diluted earnings per share, for the fourth quarter of 2011, compared to $175.2m or $0.37 diluted earnings per share, for the same period in 2010.

  • Green Dot Q4 net income rises

    27 Jan 2012 | 5:17 am
    Green Dot has reported a net income of $13.42m, or $0.33 diluted earnings per share, for the fourth quarter of 2011, compared to $7.94m, or $0.18 diluted earnings per share, for the same period in 2010.

  • Bank of Georgia implements ProfitStars SMC Services

    27 Jan 2012 | 1:37 am
    Bank of Georgia has implemented ProfitStars' Gladiator Social Media Compliance (SMC) Services to assist in proactively managing the risks associated with social media platforms.

  • BNY Mellon revamps loan administration service for hedge fund clients

    27 Jan 2012 | 1:23 am
    BNY Mellon has enhanced its loan administration functionality to offer hedge funds and fund of hedge fund clients an automated solution with increased transparency.
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    The Principled Achiever

  • Global perspectives on risk from some good minds

    Clark Abrahams
    18 Jan 2012 | 4:01 pm
    There were many different perspectives and ideas shared at the recent Ri$kMinds event. There were numerous notable quotes from regulatory and banking executives, such as:  Concerning financial innovation: "We need a more formal process to distinguish healthy innovation versus arbitrage" -- Jose Maria Roldan, Banco De Espana Concerning safety & [...]

  • Quality information for the Board

    Clark Abrahams
    14 Oct 2011 | 4:15 pm
    Boards of Directors certainly do care about the quality of the information they receive from the business.  They must have confidence that comes from knowing that the information managers provide to them has been sourced and delivered through a reliable, validated, and easily traceable process.  Accuracy of the information is [...]

  • Risk of investment products in the news -- new risk framework can help!

    Clark Abrahams
    4 Sep 2011 | 10:34 pm
    In my July 12 post, I explained how consistent and superior business decision making stems from sourcing and assembling all relevant information, coupled with the best analytics available. This certainly applies to everything from deciding which parts of your business to grow, how much to charge for your products, how [...]

  • Reputation is key to sustainable financial success

    Clark Abrahams
    13 Aug 2011 | 1:21 pm
    In my July 12 post, I noted that this blog is all about making better decisions.  Consistent and superior business decision making stems from sourcing and assembling all relevant information, coupled with the best analytics available.  I noted five areas of relevance in making decisions, namely: 1.  Your Corporate Brand 2.  Your Financial [...]

  • GRC, Business Strategy, and the Board

    Clark Abrahams
    7 Aug 2011 | 9:50 pm
    In my last post, I made reference to the NACD Key Agreed Principles, and focused on the first of those principles, namely Board responsibility for governance.  I  emphasized appropriate structure and practices, which necessarily vary from one company to another.  In this post we examine strategy, which is covered in [...]
 
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    Bank Marketing Strategy

  • Banks and Credit Union Marketers Taking Different Paths in 2012

    26 Jan 2012 | 6:07 am
    According to a Rand Corporation research study, consumers usually select a financial institution based on convenience of branches, convenience of ATMs and bank fees. While bank users were more likely to select based on convenience, credit union users more likely chose with a desire to avoid fees. Consumers also cite personalized service when selecting a credit union.With this as a backdrop, it is interesting to study the divergence of opinions expressed by more than 300 financial marketers from larger banks, credit unions and community banks as part of the 2012 Bank and Credit Union…

  • State of Bank and Credit Union Marketing 2012

    17 Jan 2012 | 5:34 am
    Today's bank and credit union marketers are facing a period of big data, increasing devices and more communication channels than ever before. In addition, consumers are challenging the pricing and service levels they receive from their financial institution, and are willing to speak their mind using lightning fast social media channels.To better understand what bank and credit union marketers are thinking and doing during this period of unprecedented change and opportunity, I partnered with Jeffry Pilcher from The Financial Brand to develop the 2012 Bank and Credit Union…

  • 10 Resolutions Bank Marketers Can't Ignore in 2012

    3 Jan 2012 | 6:44 am
    2011 was year that many bankers, and especially bank marketers would love to forget. Not only was focus diverted by the need to respond to new regulations for the second consecutive year (this time it was the Durbin Amendment), but the image of our entire industry was challenged as foreclosures and bank failures continued to be in the news. We didn't do ourselves any favors in 2011 either, as some of the larger banks learned the power of social media when they decided to increase (and then rescind) debit card fees, or when the industry fought internally with Bank Transfer…

  • 100 Years Later, Marketers Still Have Difficulty Measuring Up

    17 Dec 2011 | 8:25 am
    At the turn of the last century, store merchant John Wanamaker stated, "Half the money I spend on advertising is wasted; the trouble is I don't know which half."Based on just released research from Ifbyphone, those may have been the 'good old days'. The report, 2011 State of Marketing Measurement Report found that, while 82% of CMOs expected every campaign to be measured (what's up with the other 18%), only 29% of the marketers believed they could effectively measure ROI of each channel.Potentially more troubling was the finding that more than a quarter of marketing assistants did not…

  • Bank Marketers Face Challenging Times With Great Opportunity

    15 Dec 2011 | 4:53 am
    After two years of responding to government intervention into the revenue structure of financial organizations, bank marketers are now faced with heightened levels of competition, a more demanding customer base, an unfavorable rate environment and, in many cases, a shrinking budget. But potentially most challenging to financial institution CMOs I meet in my travels is the ability to respond to the shift in the ways we interact with customers and prospects.The flood of data, channels, devices and changing consumption patterns have marketing departments in…
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    Banks vs Credit Unions's Blog

  • Friday 13th Shakes Europe

    Blair Evan Ball
    17 Jan 2012 | 7:05 am
    To Solve the Crisis You Must Solve Three Problems 2012 Foreign Debt Maturing There are three main problems in Europe. Most of the banks are massively insolvent, because they have 30 times their capital invested. The sovereign debt of countries that are going to have trouble paying that debt. If the banks have to mark down the debt to what its real value is – or to what it will soon be – they will be bankrupt on a scale that makes 2008 look like a waltz in the park. If banks can’t make loans, then businesses must cut back, which means fewer jobs, products, and services, which quickly…

  • US Debt Surpasses GDP

    Blair Evan Ball
    16 Jan 2012 | 6:45 am
    The total of the U.S. debt load is now $15.2 trillion, more than the annual value in goods and services of the country’s economy. Now exceeding 100% of the US Economy. US Debt % to GDP Although the specific figure is difficult to pinpoint, the benchmark was likely reached at some point in the last few days, USA Today first reported Monday. In layman’s terms, it means the world’s largest economy now collectively owes more than its entire annual output is worth. The total value of all the goods and services that the U.S. produces sits at $15.17 trillion. That figure is growing…

  • How are community banks positioned headed into 2012

    Blair Evan Ball
    28 Dec 2011 | 6:30 am
    The Fed promising to be on hold through 2013 means there’s little aspect for relief in interest margins and rates. The credit recovery we’ve seen is starting to wane … so really it’s all about profitability at this point, and that’s a tough picture. The smaller you go in the banking space, the more spread-dependent you are and the less diversified your revenue stream is. Mergers & Acquisitions Are small banks better off growing or shrinking loans? The Fed’s zero interest rate policy is causing a lot of the more creditworthy small businesses to just pay down…

  • Banks Quietly Ramping Up Costs to Consumers

    Blair Evan Ball
    29 Nov 2011 | 11:34 am
    Facing a reaction from an angry public and heightened scrutiny from regulators, banks are turning to all sorts of fees that fly under the radar. Everything, it seems, has a price. Fees Nationwide, credit unions are en vogue. And while some of these new credit union members will transfer their checking accounts, direct deposits, electronic bill pays, and even their credit cards and loans, many will not. The majority of the benefit goes to the bigger Credit Unions, those with assets over $100 Million seeing the biggest increase in new members from banks. Unfortunately for the small to medium…

  • $15,000,000,000,000

    Blair Evan Ball
    16 Nov 2011 | 7:04 am
    For the first time in American History we will surpass $15 Trillion in our National Debt today! That basically equals 100% of our Gross Domestic Product. In the book “This Time is Different” by Reinhart and Rogoff, once a country reaches 90% of GDP, buckle your seat belt, well we blew by that number. Forget all the pundits who keep saying it will affect our children and grandchildren. No one is talking about how the debt is affecting all of us today. The debt was $10.626 trillion on the day Mr. Obama took office. We are in another depression like the 30′s, and he…
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    Near Field Communication (NFC) / Smart mCommerce

  • Apple Becomes World’s Largest Smartphone Vendor in Q4 2011

    Kenneth G. Mages
    28 Jan 2012 | 3:25 am
    According to the latest research from Strategy Analytics, global smartphone shipments grew 54 percent annually to reach a record 155 million units in the fourth quarter of 2011. Click here for more.

  • The G20′s Internet Economy to Reach $4.2 Trillion by 2016 as Nearly Half the World’s Population Become Web Users

    Kenneth G. Mages
    28 Jan 2012 | 3:15 am
    The Internet economy of the G-20 economies is projected to reach $4.2 trillion in 2016 — nearly double the size it was in 2010 — providing companies and countries with a vital source of growth as they battle to thrive in an era of uncertainty, according to The Boston Consulting Group (BCG). Click here for more.

  • MetroPCS Sued for Visual Voicemail Patent Infringement

    Kenneth G. Mages
    28 Jan 2012 | 2:55 am
    Klausner Technologies announced today that it has filed suit against USA based mobile network operator, MetroPCS over allegations of patent infringement under the Klausner U.S. Visual Voicemail patents. Click here for more.

  • All handset makers are readying NFC payments, says MasterCard exec

    Kenneth G. Mages
    27 Jan 2012 | 2:40 pm
    Ed McLaughlin, MasterCard’s head of Emerging Payments, has some good news for those waiting on NFC-enabled phones for contactless payments. In an interview with Fast Company, McLaughlin said that he didn’t know of a handset maker who wasn’t working on integrating support for PayPass contactless payments. Read the full article at NFCNews…

  • Nintendo adds NFC to Wii U controller

    Kenneth G. Mages
    27 Jan 2012 | 2:35 pm
    Nintendo president Satoru Iwata has revealed that the forthcoming Wii U game controller will feature embedded NFC technology. According to Iwata, the NFC controller will contain the same contactless standards used in FeliCa and Mifare products, enabling it to interact with a variety of different NFC-tagged objects to enrich the gaming experience. Read the full article at NFCNews…
 
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    Bank Nerd

  • Best of the Best: Snow Edition

    Sensei
    27 Jan 2012 | 10:49 am
    What a morning, I have not seen this much snow in some time. It is a nice change to be honest, but driving on fresh snow can be quite difficult if you do not take your time. As we are at the end of the week, we have BankNerd’s Best of the Best. As usual, our Best of the Best has articles that have been read throughout the week from various blogs, that I felt deserves to be highlighted and shared. Our Best of the Best Last week, CIBC launched a mobile version of their website. This week we wrote about RBC planning on launching a remote cheque deposit app in the US. Hopefully once it is…

  • RBC Shoppers Optimum Infographic

    Sensei
    26 Jan 2012 | 10:36 am
    Last week Royal Bank of Canada (RBC) and Shoppers Drug Mart launched a new program, which has been launched nation wide that allows Canadians to bank and earn rewards at Shoppers Drug Mart/ Pharmaprix locations throughout Canada. The new program allows you to use RBC’s new RBC Shoppers Optimum Bank account and debit card to collect Shoppers Optimum points faster than before. To recap, you are able to earn 10 additional Shoppers Optimum points fore very $1 you spend at Shoppers Drug Mart when using the RBC Shoppers Optimum Bank account. When you make purchases outside of Shoppers Drug Mart,…

  • Introducing Our Paper Life – The Ultimate Short Storage Solution

    Sensei
    25 Jan 2012 | 8:34 am
    Every year both new and current students attend post secondary institutions across Canada. A large majority of these students live away from home, and you will find that most people will be moving from one residence to another (unless they found one they can stick out with for their remaining years after 1st year). The reason I bring this up because when you move from one residence to another you will have to carry all of your essentials with you, which includes things such as your desk, book case, etc. That being said, lugging those pieces of furniture around is not an easy task, and can get…

  • Introducing the Air Miles App

    Sensei
    24 Jan 2012 | 8:44 am
    Air Miles is one of the most widely used rewards program; in the recent weeks, Air Miles has announced an new program that will be launching in a couple of months, called Air Miles Cash, and a new expiry rules for the Air Miles program. That being said, I came across a great app that avid Air Mile collectors may just want to add to their line-up, as it will ultimately make your Air Mile collecting potential increase. The app I am talking about is none other than the Air Miles App. Ultimately, the Air Miles App will allows users to keep track of their Air Miles, bonus offers and sponsor…

  • RBC to Launch Remote Cheque Deposit in the US

    Sensei
    23 Jan 2012 | 10:02 am
    Last week Bank Guru asked a great question on Twitter, which was “What makes your banking experience memorable or not so memorable?”. I find that the level of service you receive from bank employees is what makes the experience memorable. For the most part, you expect a certain level, if you were to receive anything above or below it, you will remember it. One response was from Orlando Savannah, which said that ease of use is what makes the experience memorable. That being said, Orlando also revealed in the tweet that RBC is bringing an iPhone/ Scanner deposit on February 2nd or 20th for…
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    KIVA Blog

  • Converting customers into advocates

    17 Jan 2012 | 3:37 am
    A few weeks ago I was having lunch with a banker friend from a top Malaysian institution. I asked him what he believed to be the most effective form of promotion for a bank. Without hesitation he said customer advocacy. Although that was what I was thinking—I did not expect this to be his first answer. I am not sure why I was surprised, after all, a recommendation from someone we trust is the way most of us prefer to make any vendor choice. When we are faced with two or more options we feel safer following in the footsteps of a friend or a peer who has had a positive experience. It just…

  • It’s the message not the medium!

    11 Oct 2011 | 6:39 am
    Here we go again…introducing more new channels for delivering financial transactions to our existing customers/members. Will this just be one more way to check account balances?It seems that every five years or so banks and credit unions fall all over themselves in an effort to stay competitive by introducing the latest and greatest channel technology. Why?  Number one reason—because everyone else is doing it. While new technology usually offers some advantages to the customer or the institution, functionality all too often, remains business as usual. The medium is new, but…

  • It’s all about consistency…

    19 Sep 2011 | 10:30 am
    Likely, many of you are now offering up to five different ways for customers/members to obtain their account balances. Yet amazingly, for most institutions, balance inquiry is still the #1 transaction for call center agents and it still ranks high as a primary reason for many branch visits.Why is this? Why aren’t consumers taking greater advantage of self-service options? I believe that they have the perception that it is easier, and they are more likely to get accurate information, if they speak with a live representative.Is this an accurate view of your organization’s delivery channels?

  • Part II: It’s Time to Engage Your Tellers in Sales

    22 Jul 2011 | 8:31 am
    As I am sure you know all too well, some people are more willing and able to engage in selling than others, so there will always be a few people who just can’t get there. At the same time, there will be a few tellers who are naturals. For the rest, we need to help them adapt to a changing role for tellers in the delivery of sales and service. I do not have any magic words to coach the reluctant, but I do have an opinion on how to maximize the overall performance of the teller team.I believe there are two key factors that need to be addressed early on. First is fear; many tellers are just…

  • Capturing leads: Does it take a natural sales person, the right technology or the right motivation?

    23 May 2011 | 9:16 am
    Last week, I accompanied a bank who is evaluating our unified Sales Management system on a visit to our largest credit union client. We met at one of the busiest branches and were hosted by the branch manager and her team—who did a phenomenal job of presenting the system. While looking at performance dashboards, the banker noticed that one of the CU’s tellers had generated a huge number of leads (capturing  approximately 90 referrals in one week), significantly more than any of her colleagues.In the ensuing discussion, it was explained that this teller…
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    Bank Nerd

  • Best of the Best: Snow Edition

    Sensei
    27 Jan 2012 | 10:49 am
    What a morning, I have not seen this much snow in some time. It is a nice change to be honest, but driving on fresh snow can be quite difficult if you do not take your time. As we are at the end of the week, we have BankNerd’s Best of the Best. As usual, our Best of the Best has articles that have been read throughout the week from various blogs, that I felt deserves to be highlighted and shared. Our Best of the Best Last week, CIBC launched a mobile version of their website. This week we wrote about RBC planning on launching a remote cheque deposit app in the US. Hopefully once it is…

  • RBC Shoppers Optimum Infographic

    Sensei
    26 Jan 2012 | 10:36 am
    Last week Royal Bank of Canada (RBC) and Shoppers Drug Mart launched a new program, which has been launched nation wide that allows Canadians to bank and earn rewards at Shoppers Drug Mart/ Pharmaprix locations throughout Canada. The new program allows you to use RBC’s new RBC Shoppers Optimum Bank account and debit card to collect Shoppers Optimum points faster than before. To recap, you are able to earn 10 additional Shoppers Optimum points fore very $1 you spend at Shoppers Drug Mart when using the RBC Shoppers Optimum Bank account. When you make purchases outside of Shoppers Drug Mart,…

  • Introducing Our Paper Life – The Ultimate Short Storage Solution

    Sensei
    25 Jan 2012 | 8:34 am
    Every year both new and current students attend post secondary institutions across Canada. A large majority of these students live away from home, and you will find that most people will be moving from one residence to another (unless they found one they can stick out with for their remaining years after 1st year). The reason I bring this up because when you move from one residence to another you will have to carry all of your essentials with you, which includes things such as your desk, book case, etc. That being said, lugging those pieces of furniture around is not an easy task, and can get…

  • Introducing the Air Miles App

    Sensei
    24 Jan 2012 | 8:44 am
    Air Miles is one of the most widely used rewards program; in the recent weeks, Air Miles has announced an new program that will be launching in a couple of months, called Air Miles Cash, and a new expiry rules for the Air Miles program. That being said, I came across a great app that avid Air Mile collectors may just want to add to their line-up, as it will ultimately make your Air Mile collecting potential increase. The app I am talking about is none other than the Air Miles App. Ultimately, the Air Miles App will allows users to keep track of their Air Miles, bonus offers and sponsor…

  • RBC to Launch Remote Cheque Deposit in the US

    Sensei
    23 Jan 2012 | 10:02 am
    Last week Bank Guru asked a great question on Twitter, which was “What makes your banking experience memorable or not so memorable?”. I find that the level of service you receive from bank employees is what makes the experience memorable. For the most part, you expect a certain level, if you were to receive anything above or below it, you will remember it. One response was from Orlando Savannah, which said that ease of use is what makes the experience memorable. That being said, Orlando also revealed in the tweet that RBC is bringing an iPhone/ Scanner deposit on February 2nd or 20th for…
 
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    Prepaid Debit Cards » Prepaid Debit Cards, Teen Card and Gift Cards — Everything You Need to Know

  • Prepaid Card to be Released in February Targeting Older Americans

    Tracy
    27 Jan 2012 | 12:39 pm
    Jan 27, 2012 – Yesterday, an alliance offering a new affordable prepaid debit card, the AARP Foundation Prepaid MasterCard, was announced in Monrovia, CA. The partnership between the AARP Foundation and Green Dot Corporation said that they are honing in on assisting those Americans that are approaching retirement age with a flexible, lower cost prepaid card. This comes in response to a new federal law requiring that all beneficiaries of Social Security will be paid electronically by March 1, 2013. The press release stated that the prepaid debit card will work ideally for those consumers…

  • New O2USA Prepaid MasterCard Offered to Unbanked and Underbanked in February 2012

    Tracy
    24 Jan 2012 | 1:43 pm
    Jan 24, 2012 – Today, O2 Secure Wireless (Pink Sheets: OTOW) released that it will be making available February 1st, a prepaid debit MasterCard designed to serve the growing underbanked and unbanked populations throughout the world. With the rise in unemployment and economic strain across the globe, a larger percentage of the population is turning to prepaid products like the O2USA Prepaid Master Card as a financial tool instead of traditional banking relationships. According to O2 Secure Wireless, the O2USA prepaid MasterCard will not function like typical MasterCard credit cards by…

  • Prepaid Spotlight: Pink ACE Elite Visa

    Tracy
    9 Jan 2012 | 12:24 pm
    Jan 09, 2011 — As the New Year begins with a bang, GetDebit.com would like to bring to light a unique prepaid product that gives back to the community. ACE Cash Express provides several prepaid card options and one of their best is the Pink Elite Visa prepaid card. The Pink Elite Visa is unique in that for every purchase you make a portion is donated to the National Breast Cancer Foundation (up to $350,000 per year) to fight breast cancer. What a great cause to support! The fantastic thing about the ACE prepaid programs is that they provide flexibility. Depending on your needs, there is…

  • InteliSpend Introduces Their New Expense Prepaid Visa Business Card

    Tracy
    6 Jan 2012 | 12:57 pm
    Jan 06, 2011 — Earlier this week, InteliSpend Prepaid Solutions announced the arrival of the Expense Visa Prepaid Card that offers corporate clients the ability to more aptly manage business expense spending as well as provide a more fluid administrative process. With over 10 years of B2B prepaid and business expense expertise, InteliSpend continues to bring meaningful advances to their customers through self-serve and custom program solutions. InteliSpend looks to capture more marketshare based on a recent study by the Aberdeen Group that shows businesses with automated expense…

  • New Year’s Resolution: Understand the Prepaid Debit Card

    Tracy
    5 Jan 2012 | 3:42 pm
    Jan 05, 2011 — Total dollar figures loaded annually on prepaid debit cards are fast approaching the $500 billion mark. As a financial tool, the prepaid card has earned its place among bank debit cards, credit cards and paper checks and doesn’t appear to be losing ground anytime soon. Remarkably, there is still a large portion of the population that doesn’t understand how prepaid cards work beyond that of a merchant gift card. Let us fill you in. Let’s focus on General Purpose Reloadable (GPR) prepaid cards for the time being and leave the merchant gift cards on the…
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    NFC Mobile Payment Industry News Blog

  • Green Dot Launches Prepaid MasterCard Tailored for Older Americans

    John B. Frank
    27 Jan 2012 | 11:27 am
    Image via CrunchBase January 26, 2012 08:30 AM Eastern Time  Green Dot Will Launch AARP Foundation Prepaid MasterCard® Card Targeted to the Needs of Older Americans and Those Receiving Federal Benefits Such as Social Security MONROVIA, Calif.--(BUSINESS WIRE)--Green Dot Corporation (NYSE: GDOT), a provider of widely distributed, low-cost banking and payment solutions to a broad base of U.S. consumers, is working with AARP Foundation and MasterCard to launch the first prepaid card tailored to older Americans. The AARP Foundation Prepaid MasterCard from Green Dot (the “Card”) is…

  • Debit or Credit? Javelin says Consumers Face Conflicting Messages About Payment Choice

    John B. Frank
    27 Jan 2012 | 11:25 am
    Image via Wikipedia Javelin’s 2011 Consumer Payments Behavior Report Examines How Financial Institutions Lost the Initial Public Relations Battle Related to the Durbin Amendment SAN FRANCISCO--(BUSINESS WIRE)--Javelin Strategy & Research’s latest report examines how recent debit card regulations have transformed market incentives for payments, creating a confusing environment for consumers. For years, banks and merchants have actively encouraged debit card use, and 73% of consumers report that they are satisfied with the debit card option. Now, debit card issuers are facing a…

  • New, Free GoPayment Credit Card Reader Now Available

    John B. Frank
    27 Jan 2012 | 11:24 am
    Maximize Sales on the Go While Protecting Customer Card Data MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Intuit Inc.’s (NASDAQ:INTU) newly designed GoPayment card reader is now available for free at GoPayment.com. The GoPayment card reader increases the accuracy of each card swipe and offers best-in-class, end-to-end encryption to protect a customer’s sensitive card data. Intuit redesigned the card reader based on customer feedback asking for a professional, easy-to-use way to process payments wherever they are.Designed for small businesses and anyone who sells products or…

  • Mobile Payments Going Mainstream at CARTES in North America

    John B. Frank
    27 Jan 2012 | 11:21 am
    Image via Wikipedia Two-day long tracks on mobile payments; more than 80 speakers and a sold-out roster of 100 exhibitors CARTES in North America 2012 LAS VEGAS--(BUSINESS WIRE)--Just what combination of technology convergence, business partnerships and consumer acceptance points will finally drive the widespread adoption of global mobile payments is at the center of the agenda at the CARTES in North Americaexpo & conference, March 5-7, 2012 in Las Vegas, Nev. “As we continue to focus on innovation and developing technologies like NFC, we’ll be able to further enhance the…

  • Shazam Offers 1% PIN Debit Rate through Adaptive Payments

    John B. Frank
    25 Jan 2012 | 11:41 am
    Discount rate of 1% for PIN debit transactions for all merchants that use Pentagon offered DES MOINES, Iowa and FT. LAUDERDALE, Fla., Jan. 25, 2012 /PRNewswire/ -- The SHAZAM network today announced that it has launched the Adaptive Payments Pentagon mobile point-of-sale (POS) payments application. Pentagon is a mobile payments platform, which allows merchants to accept PIN debit, signature debit and credit transactions using iPhone® and Android® mobile phone and tablet devices. SHAZAM will roll out Pentagon to its nearly 1,500 community financial institutions…
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    Credit Card News

  • Prepaid Debit Card Launched By Suze Orman

    CreditCardsCo
    27 Jan 2012 | 9:53 am
    Suze Orman the popular CNBC celebrity and specialist in all kinds of personal finance has recently announced that she is launching her own branded payment product that will carry her name.

  • First Premier Move Drops Average APR Rate

    CreditCardsCo
    26 Jan 2012 | 9:35 am
    According to the weekly Credit Card Rate Report the interest rates on opening offers for new credit cards fell during the past week, partly due to a severe drop in the APR of the most expensive card in the survey.

  • It All Comes Down To Timing For S&P and the EU

    CreditCardsCo
    25 Jan 2012 | 9:27 am
    January 2012 saw an unexpected bombshell when the rating agency Standard & Poor announced that it was downgrading the credit rating of nine European countries.

  • Small Business Credit Cards Making A Comeback

    CreditCardsCo
    24 Jan 2012 | 9:55 am
    Small business owners are being targeted by lenders who are offering credit cards with excellent rewards schemes.

  • Court Upholds Binding Arbitration for Credit Cards

    CreditCardsCo
    23 Jan 2012 | 9:41 am
    The U.S Supreme Court gave a blow to people's hopes with upholding the binding credit card arbitration procedures.
 
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    Credit Card Blog

  • MasterCard Prepaid Debit Cards

    Evita
    26 Jan 2012 | 11:54 am
    MasterCard credit cards are easy to find, but did you know there's a wide range of MasterCard prepaid debit cards? Here are a few of them.

  • Allowing Teens Access to Your Credit Cards

    creditcardsbay
    24 Jan 2012 | 11:22 am
    Should you help your teen establish his own credit card or add him to your account until he learns the importance of financial responsibility?

  • A Look at Shopping Cards

    Evita
    19 Jan 2012 | 12:24 pm
    Shopping credit cards have been a favorite for those looking to rebuild their credit histories. There are several worth consideration, too, including the new Gettington card.

  • 24 Million Credit Card Users Info Hacked… Again

    creditcardsbay
    17 Jan 2012 | 11:31 am
    This weekend, more than 20 million Zappos customers learned their information had been hacked. The company is now struggling to contain the damage.

  • Robo-Signing… Credit Card Defaults?

    creditcardsbay
    12 Jan 2012 | 11:39 am
    Understanding big business decision making processes is difficult at best most days, but when a major bank like JPMorgan Chase completely and quietly rescinds all of its lawsuits against credit card defaults, red flags are sure to be raised.
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    Financial Marketing and Cross Selling Blog

  • Cross Selling Continues to be a Top Priority of Bank and Credit Union Marketing

    Stewart Rose
    23 Jan 2012 | 2:22 pm
    According to the recent 2012 Bank and Credit Union Financial Marketing Survey developed by Jim Marous of Bank Marketing Strategy and Jeffry Pilcher of The Financial Brand, cross selling is at the top of the list of marketing priorities. With fee revenue under pressure from new federal regulation, it is not surprising that generating more revenue per customer is so important. This is nothing new. Looking at this year’s Grant Thornton LLP’s 18th Annual Bank Executive Survey, along with previous years’ surveys, you will see that organic growth (cross selling) has been a top priority…

  • Creating Cross Selling Opportunities

    Stewart Rose
    29 Nov 2011 | 8:51 pm
    In a recent article from the Financial Brand, Datamining Social Media Profiles for Actionable Results, the first paragraph talks about the biggest challenge to cross selling. ”If a financial institution could know that one of its customers just got married…Or had a baby…Or got divorced…Wouldn’t those life events create selling opportunities for that financial institution? If a bank or credit union understood its customers’ life situations, wouldn’t they be able to market specific products and services centered around people’s unique needs? If…

  • How Social Media is Changing Bank Marketing

    Jeff Woodruff
    28 Oct 2011 | 5:27 pm
    Essentially, “Social Media” is really just a buzz word that has come to be used to describe the ever changing landscape of the internet that we’ve all grown to know so well. The phrase simply refers to all the social networks in existence and the way we, web users, customers, and brands interact with each other online today. Not only can a single social network be used as a marketing tool in itself, but integrating social media channels into your website gives you the power to leverage your website in ways that didn’t exist years ago. The difference between traditional websites and…

  • How Can Banks Use Social Media to Improve Customer Service?

    Jeff Woodruff
    1 Aug 2011 | 10:59 am
    What does customer service mean to you? Personally when I think of customer service, I can’t help but have my thoughts be overshadowed by frustrating experiences, automated call services and plenty of dead ends. If you provide any product or service, no matter what it may be, you have to be 100% dedicated to assist your customers when something goes wrong. You can’t simply provide a service and then turn a cold shoulder on your customers when something goes wrong. Customer service is a HUGE factor in how your brand is viewed and when your customers need help with your products or…

  • How to Restore Branch Profitability

    Stewart Rose
    19 Jul 2011 | 2:32 pm
    Mary Beth Sullivan from Capital Performance Group, in her recent blog article The Future of Branches: Reinvention in the Banking Strategies section of the BAI website proposed an interesting solution to retail branch profitability. It’s called sales. She referenced a huge market that banks can own by leveraging their branch network. This market is people who are looking for advice. Martha Stewart realized this a long time ago and built a business around it. People want to be told what to do. It holds true in personal finances as well. People are looking for simple and easy to understand…
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    Welcome to the Adaptu Community : All Content - All Communities

  • I Have a New Job. What Should I Do With My Old 401k Plan?

    Paula Pant
    27 Jan 2012 | 12:29 pm
    Congratulations on your new job! You’re probably facing so many changes that rollover 401k rules are the last thing on your mind. Don’t worry, I’ll keep this short and simple. Here’s a quick rollover 401k lesson so that you can turn your attention back to your new line of work. You’ve Got Five ChoicesYou can do five things with the 401k plan from your old job: cash it out, leave it alone, roll it over to your new 401k, or convert it to a traditional or Roth IRA. Let’s review the pro’s and con’s of each. Cash It Out This is the…

  • The Best Way To Do a Roth Conversion

    Lauren LyonsCole
    27 Jan 2012 | 12:29 pm
    Between all the different retirement accounts and investment options, saving for your golden years can seem daunting. Sometimes even finding the cash to set aside can feel like an insurmountable hurdle. Enter the Roth IRA. It’s the retirement account that allows your contributions to grow tax-free, and gives you complete control over your money in retirement—including never having to pay taxes on it again and withdrawing the cash on your own terms. At the very least (and I do mean very least), aim to contribute the maximum each year ($5,000 in 2012).  Once you have a…

  • Financial Aid for College: The Step by Step Process

    chrisbi
    26 Jan 2012 | 4:45 pm
    College tuition is more expensive than ever before. And while it can be overwhelming to think about paying for such an expense, it’s important to do everything you can to lessen your personal burden. What’s first? Financial aid. Financial aid can help pay for a large chunk of college, but applying for it is not something you want to put off.  Federal financial aid applications can be submitted as early as January 1st so it’s important to start the process as soon as possible. It can be a bit hectic, so we’ve broken it down for you step by step.  Step OneApply…

  • All Dressed Up With Nowhere To Go: How To Get The Most Out Of Your Retirement Savings

    Lauren LyonsCole
    26 Jan 2012 | 4:45 pm
    Credit card balance paid in full each month? Check. Emergency fund saved up? Check. 401(k) plan match secured? Check. Extra cash accounted for? Um, sort of. The relief that results from having your financial basics under control often gives way to confusion over what to do next. It goes without saying that saving is important, but how best to maximize your dollar isn’t so obvious. If you’re saving for something specific, like a home or a big trip, you’re probably directing most of your surplus cash toward that goal. But what if you haven’t narrowed down your goals just…

  • Re-Evaluate Your Budget for 2012

    Kelly Whalen
    23 Jan 2012 | 1:41 pm
    The start of a new year is always a great time to reflect on the passing year, and think about the coming year's goals. It's also a great time to re-evaluate your budget. I know it's not always tops on everyone's resolutions, but spending that time now will help you make 2012 a richer year, literally! 1. 2011 taxes: I know this may be the last thing on your mind in January, but trust me it's worth it. As 1099s and W2s come in the mail have a spot to store them with all your other tax documents. It doesn't hurt to take the time to do a quick run through as well. If you are due a refund…
 
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    BBR - Asset Management News

  • Invesco Q4 net income up 15.5%

    27 Jan 2012 | 5:51 am
    Invesco has reported a net income of $202.3m or $0.44 diluted earnings per share, for the fourth quarter of 2011, compared to $175.2m or $0.37 diluted earnings per share, for the same period in 2010.

  • LGT Capital to buy 30% stake in QUANTIS Investment

    27 Jan 2012 | 12:10 am
    LGT Capital Management, a subsidiary of Liechtenstein-based asset manager LGT Group, has agreed to buy a 30% monority stake in QUANTIS Investment Management from BROKERNET Investment Holding for an undisclosed sum.

  • FINRA fines Merrill Lynch $1m for failing to arbitrate disputes with employees

    26 Jan 2012 | 6:04 am
    The Financial Industry Regulatory Authority (FINRA) has fined Merrill Lynch, Pierce, Fenner & Smith $1m for failing to arbitrate disputes with employees relating to retention bonuses.

  • SEI Investments Q4 profit declines 29%

    26 Jan 2012 | 5:51 am
    SEI Investments Company has reported a net income of $44.4m, or $0.25 diluted earnings per share, for the fourth quarter of 2011, compared to $62.4m, or $0.33 diluted earnings per share, for the same period in 2010.

  • BlackRock unveils multi asset income fund

    26 Jan 2012 | 5:14 am
    BlackRock has introduced Multi-Asset Income Fund (BAICX), which provides a strategy for tapping the opportunities for diversified income around the world, across asset classes and within sectors.
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    The Banking and Strategy Initiative

  • The Glass Castle

    zyakaira
    27 Jan 2012 | 8:07 pm
    A true first person History of America, in West Virginia and the Southwest Amazon.com Review Jeannette Walls grew up with parents whose ideals and stubborn nonconformity were both their curse and their salvation. Rex and Rose Mary Walls had four children. In the beginning, they lived like nomads, moving among Southwest desert towns, camping in the mountains. Rex was a charismatic, brilliant man who, when sober, captured his children’s imagination, teaching them physics, geology, and above all, how to embrace life fearlessly. Rose Mary, who painted and wrote and couldn’t stand the…

  • Wells Fargo found the niche JP Morgan voided! | Banking insight

    zyakaira
    27 Jan 2012 | 12:24 pm
    Image by bsterling via Flickr Though in true banking fashion, the new look empathy from the bank already looks going over the cliff. The bank has done an average 33% better than at least JP Morgan with $4 bln restructured as of this year as per this showpiece article in the Forbes Examples of those happy with mods include  amother who is happy with a 40 year mortagage which is effectively inceasing her interest burden mutifold at the 5.625% rate she always had. Suddenyl it looks to me the bank is not being very nice. Either it is looking to restructure the mod in the visible future or it is…

  • $25 bln settlement with US AGs for 8 mln mortgages

    zyakaira
    26 Jan 2012 | 2:16 pm
    The Top 5 banks JP Mrgan, BofA, Wells Fargo, Citi and Ally have agreed to sign a settlement with the AGs apart from agreeing to reform Foreclosure processes in the next few weeks. Thus the firms will cull out robo signing from the procedures, and rewrite a $20000 dicount into one million existing mortgages According to a Monroe county paper The proposed federal settlement agreement forces the big banks to act as local banks used to before the age of mortgage selling and bundling: Local lending officers either knew or found out the circumstances of their borrowers, and made sound judgments…

  • Citibank: Taxing Card Rewards / Frequent Flyer Miles

    zyakaira
    26 Jan 2012 | 2:09 pm
    Image via Wikipedia Citibank is issuing tax demands at 2.5 c per mile on its award miles for opening a savings or checkings account. As of now it just seems like – if they are valued, someone will discover it ” Once Citi has notified IRS, individuals would have to pay up the taxes or risk getting audited. However LA Times sourced this report with CPA citations that  miles have not been reported for the last 30 years. Airlines inventory rewards at approximately the same 2-5 cent cost and many loyalty programs have crashed thru losses incurred on redemptions of greater value than…

  • Dethroning the King – A mysterious deal to be solved at leisure?

    zyakaira
    26 Jan 2012 | 1:56 pm
    The book discusses the sudden capitulation of Anheuser Busch to Brazilian InBev at the beginning of the Lehaman week, as people got busy with other things in the Crisis, maybe the biggest dear(‘Clydesdale’) that cheers the Superbowl From the Inside Flap Once upon a time, the “King of Beers” ruled the world—Budweiser controlled 52 percent of the U.S. beer market, and Anheuser-Busch was the world’s top brewer. Then, economic hardship fell upon the land of milk and honey (and baseball, apple pie, and Chevrolet), and the King became a pawn that easily fell into the…
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    OptiRate

  • 51 Stats for Gen Y Marketers

    Serge Milman
    26 Jan 2012 | 11:44 am
      If your Community Bank or Credit Union is marketing to Gen Y, then you will find these 51 stats to be of great interest as written by Ekaterina Walter on TNW. Read more at http://BankBlog.OptiRate.com

  • Facebook Marketing: You Get What You Put Into It

    Serge Milman
    25 Jan 2012 | 4:04 pm
    Community Banks & Credit Unions struggle to extract value from social media; yet, the problem may lie not in the channel but in the message. Read more at http://BankBlog.OptiRate.com

  • Checking Accounts – Bankers’ Holy Grail?

    Serge Milman
    20 Jan 2012 | 1:05 pm
    Bankers focus most of their marketing on the Checking Account. Is this justified? Does checking account offer cross-sell opportunities? Read more at http://BankBlog.OptiRate.com

  • Can Gen Y propel Community Banks and Credit Unions?

    Serge Milman
    17 Jan 2012 | 11:30 am
    Will the focus on Gen Y result in growth and profitability for Community Banks & Credit Unions? Or will these FIs see more red ink? Read more at http://BankBlog.OptiRate.com

  • High-Yield Checking Accounts – Astute Strategy or Slightly Better than Really Bad?

    Serge Milman
    15 Jan 2012 | 9:58 pm
    Community Bank & Credit Union growth & profitability depend on differentiation & meeting customers' needs. Checking accounts are a dead-end Read more at http://BankBlog.OptiRate.com
 
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    BAI Banking Strategies

  • Risk Assessment for Mortgage Servicers

    27 Jan 2012 | 6:00 am
    Continuing regulatory scrutiny should drive banks to perform comprehensive risk assessments on their mortgage servicing operations.

  • P2P Payments: The Bank Imperative

    25 Jan 2012 | 6:00 am
    Panelists at the upcoming BAI Payments Connect say the fragmented P2P market needs to evolve to a bank-centric model.

  • Searching for Value in Bank Fees

    24 Jan 2012 | 6:00 am
    Alex Matjanec, co-founder of MyBankTracker.com, sees new bank fees as inevitable in 2012, imposing a burden on consumers to search for value in their banking relationships.

  • The Big Bank Banker: Handle with Care

    20 Jan 2012 | 6:00 am
    Hiring from larger institutions can be a big boon to community banks but can also prove a hindrance if the cultural fit isn’t there.

  • Social Media for the Bottom Line

    18 Jan 2012 | 4:26 am
    Social media strategies can enhance the bottom line if such efforts are aligned with key business objectives.
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