Will community banks suffer from technology shortcomings?

How long should it take to add your spouse to your bank account? A few minutes seems reasonable to me. However, it took one full hour to accomplish this simple task at my local community bank [...]

How banks can stand out in an experience economy

We are moving toward an experience economy. Banks sell commodities, so how can they stand out? By showing deep customer empathy and authenticity. At a recent industry conference Barbara Corcoran, [...]

Taking the Pain out of Payments

Think about the best customer experiences you have ever had. Whether buying something, returning an item, dining out, or taking a flight—simplicity is key. We all want no hassles, friendly [...]

Forget Big Data, Little Data is the Big Deal

Big data is a nebulous topic. There has been much hype about the subject over the past several years. While it is a difficult task for financial institutions to tackle, there are ways to find [...]

Providing Purpose for Bank Customers

At a recent financial industry conference one of the presenters commented that he’s always surprised when people say that the purpose of a business is to make money. While making a profit is [...]

Instant Prescreen: I do not think it means what you think it means.

There are a few phrases that people use with great confidence, even though their understanding might be quite inaccurate. During a few recent conversations, I’ve realized that “Instant Prescreen” [...]

Want long-term customers? Small data makes a big difference in any industry.

It is imperative to have skilled people on the front lines. However, they can’t be effective without training, knowledge about the products they are selling and latitude to make decisions on the [...]

What Banks can Learn from Airline Customer Service Failures

We live in a world where instant is an expectation. We can get online and order just about anything with a mouse click, we have instant messaging and television on demand. With all of the amazing [...]

Expect Better: Customer Service with the Customer in Mind

A slew of bad customer service experiences have left me wondering if providing great customer service is a thing of the past. Then a positive experience shows me it isn’t a lost cause. Some [...]

Want Loyalty? Start with the Customer

My last blog post focused on creating a retail experience that drives customer loyalty beyond rewards. The bottom line is that knowing what is important to your customers and responding to their [...]

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