Archive for November, 2009

New Customer and Deposit Strategies Anyone?

November 13, 2009   Posted in Uncategorized | No Comments | Email This Post | Print This Post

Next year will provide banks meaningful opportunities to:

  • Acquire new customers, some that may be dissatisfied with their current financial institutions
  • Acquire more deposits from customers pursuing a deposit “safe haven”
  • Lower marginal costs of funds using advanced product and acquisition strategies
  • Build brand recognition among Gen X and Y

I want to let you know about an upcoming seminar that we have designed in partnership with the Massachusetts Bankers Association:

Customer and Deposit Management for 2010:
Opportunities, Products and Strategies

On December 2nd, we will discuss the status of live reverse auctions, social media and rewards checking.  You’ll have the chance to hear from fellow bankers first hand as they describe their experiences with new products and strategies.

I’ll present a 2010 banking outlook customized for those of you responsible for acquiring new customers and increasing deposits.  I’ll also conduct a SurveyMatters live polling session so that you can see your colleagues’ views on important customer and deposit issues.

At the end of the day we’ll conclude with a banker’s panel where your colleagues will discuss the challenges and opportunities of customer and deposit management in 2010.

Seminar details can be found at:

http://www.massbankers.org/vango/core/events/eventdetails.aspx?meeting=CDM09

I hope to see you there!

Risk Management Explodes in Importance

November 9, 2009   Posted in Uncategorized | No Comments | Email This Post | Print This Post

Recently, I had the pleasure of speaking to risk management executives attending the 1st Annual WolfPac User Conference at the Colonnade Hotel in Boston, MA.  Watch for this conference to grow next year. I provided a 2010 financial industry outlook.  For an hour we explored the economic, competitive, regulatory and Internet issues that will dominate the financial services industry next year.  Major points presented included a shallow, few jobs economic recovery with unemployment peaking mid-2010 and housing foreclosures and home price declines bottoming out year end 2010.  Also, we discussed possible Washington battles of an intensity we’ve not seen in decades over comprehensive regulatory reform, including new and restructured regulators, the proposed Consumer Financial Protection Agency (CFPA) and national mortgage reform.

The industry faces more regulatory uncertainty than most professionals have seen in their careers.

Competition will increase in intensity next year as some financial institutions (FIs) change business models and as some customers leave their FIs for the promise of better deals and relationships at community-based FIs.  I also spent time discussing how the Internet, with its wave of new Internet-based, financial products such as remote deposit capture and mobile banking, has placed a greater responsibility on risk managers to mitigate internal, vendor and customer risks.   Risk management continues to evolve as an essential executive and employee focus for financial institutions.

About Jim Jones

James D. Jones, a national speaker for 16 years, has presented to financial services and mortgage audiences for organizations of all sizes.More >

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