What do CEOs want most from their branches? Low cost deposits, by a mile (and second, loans). Therefore, what should be the biggest focus in a plan? Low cost deposits, by a mile. So, to get them, here's my “Five-Minute Gonzo Branch Incentive Plan." [Read more]
If your bank outsources core processing, the day the invoice arrives marks the beginning of the cumbersome process to 'prove' the bill's validity. Thank goodness a few vendors price and bill on a simplistic basis that does not require the work of preparing or proofing, but the rest continue the dreadful practice of pricing and billing with click charges for a multitude of items. [Read more]
Do you hear a giant sucking sound around your teller line? It may be the brokerage industry taking the liquidity and lifeblood from the banking industry. Many bankers may not have seen the shocking statistics lately. Brokerage houses that own banks are having a field day with deposit growth, right at a time when traditional banks can't seem to buy a checking account. [Read more]