Spinning last month's numbers? The typical bank today is filled with “performance” measurements that distort the truth rather than report useful information. Bankers often find themselves morphing into slick PR agents at month-end, sounding at times as if Don King has stepped out of the boxing ring to promote retail banking. [Read more]
The hottest tech stock in the financial services arena isn't any of the profitless Internet high flyers or the payment system trailblazers like CheckFree. It’s not even Fiserv or Jack Henry. No, no, no! The hottest financial tech stock is Concord EFS, an ATM and debit card processor that is the conglomeration of Star Systems, Honor, MAC and Cash Station. [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]