Mobile Banking Delusions

Bank Technology News reported on a survey of bank executives which found that 87% say the hope of strengthening customer ties is driving the development of mobile banking apps at their institution. My take: What flavor of kool-aid are the 87% drinking that make them think that mobile banking apps will “strengthen customer ties”?

Banking The DeBanked

How’s this for coincidence: Today, Aite Group published my report Marketing Prepaid Debit Cards To Overdrafters and Harvard Business School published a white paper on overdrafters titled Bouncing Out of the Banking System: An Empirical Analysis of Bank Account Closures.  The write-up on the Harvard paper included this comment: Between 2000 and 2005, United States banks…

How To Differentiate Your Credit Union

On the CU Water Cooler site, William Azaroff wrote: “When I look at many credit unions, I’m troubled by their blandness, their inoffensiveness. They used to stand for something, but now they’re moving away from differentiation and towards sameness. And many credit unions are doing this at the precise moment when differentiation is a necessity. The question…

Financial Services Regulations: Intellectual Monstrosity

I spent a couple of days last week attending the Federal Reserve Bank of Chicago’s annual payments conference. If you’re involved in the world of retail payments, you should really attend this conference next year. As with other good conferences, what really differentiates this one is the quality of attendees. Lots of really smart people…

What PFM Providers Need To Provide

Apologies for the sports analogy which I know so many of you hate. But there it was — the easy layup, the slow ball just waiting for me to knock out of the park….and I blew it. Whiffed. Failed to sink the basket. On the CU Chat Up the other day, @clagett set me up,…