Customer Service Profiles llc
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Communication for Financial Institutions: 5 Tips
Financial Institutions need to communicate effectively to be competitive in today’s landscape. Particularly in terms of the dynamic between decreasing branch visits and a high importance on emotional connection as an important element of loyalty for financial institutions, omni-channel communication is more important than ever. Banks and credit unions must... Read more »
How financial institutions can improve banking for Hispanic millennials
Millennials should be the focal point of any financial institution’s marketing strategy in today’s world. They’re the consumers at the brink of starting families (if they haven’t already), buying a home and setting up their long-term savings and retirement plans. Hispanic Millennials specifically should be no different — they represented a quarter of all American […]
Four Reasons Your Parents Might Be in Financial Trouble
Four Reasons Your Parents Might Be in Financial Trouble Submitted by Guidant Planning on April 1st, 2019 As your parents age, they will probably need more help from you. But it may be difficult to provide the help they need, especially if they're experiencing financial trouble. Money can be a sensitive subject to discuss, but you'll need to talk to your parents about it in order to get to the root of their problems and come up with a solution. Before you start…
A guide to measuring your credit union's community impact
In the 21st century, it’s no longer sufficient to be known simply as a financial institution. Credit unions and other financial institutions must actively demonstrate how they give back to their local communities and why consumers should trust their financial business to them. That’s where impact measurements come in. What is community impact? For many, […]
Complete conversational AI solution keeps eluding financial institutions
Conversational artificial intelligence has gotten a lot of buzz lately, and for good reason. As lockdowns closed financial institution branches and pushed banking online, usage of chatbots and virtual agents soared. Bank of America’s AI financial assistant “Erica,” for example, gained one million users from March through May. A free chatbot available in the BofA […]
Is SaaS the right solution for all financial institutions?
If you manage a financial institution then you will know that your IT is the backbone of your business. Your clients come to you for your financial expertise but it is your IT systems that allow you to translate that expertise into practical solutions for your clients. For many firms managing those IT systems is a significant problem. Not many small finance companies can afford to employ dedicated IT personnel to check that their software is kept up to date, that their data…
It’s now or never for a third of traditional financial institutions
With most of the world’s economies showing clear signs of being in the late phase of the economic cycle, many traditional financial institutions are facing a critical juncture. Whether a recession or a prolonged stagnant period is in the cards, banks and credit unions can anticipate pressure on earnings and increasing risk due to continued …
Why consumers don’t trust financial institutions
My spouse and I are considering refinancing our home to see if we can lower our monthly payment before interest rates rise. I made the mistake of filling out an online form which sent my information to what seems like every financial institution in the country. I spent the next two weeks dodging and sometimes …
Underserved by Financial Service Providers
A survey finds consumers aren’t satisfied with the service they receive from financial service providers. Does your financial institution meet your needs?
Why community financial institutions make perfect fintech partners
Who really wants to stand in line to conduct simple transactions in a brick-and-mortar bank that is only open to fit the lifestyle of retirees? Almost any major financial transaction from financing a car to securing a mortgage can be conducted using mobile apps developed by fintechs. But these innovations have not made their way …
Cross-country Banking and Financial Frustration
A few years ago, I moved to California from North Carolina. Anybody who’s made a cross-country move can tell you, you give up a lot. It’s not just your friends and family you leave behind. You lose your dentist, your doctor, your contractors, your mechanic – basically all the local connections you’ve forged over the years. One thing I wasn’t willing to give up was my bank, a local credit union that had provided me years of great customer service and benefits. It…
The secret BSA/AML weapons of smaller financial institutions (Part 2)
The ever-increasing importance of a robust BSA/AML monitoring system has become more than clear in recent years. However, an all-encompassing monitoring system often feels beyond the reach of the smaller financial institution. Resources are finite, and some institutions are left floundering when attempting to cover all their bases. What must your small financial institution do to …
The secret BSA/AML weapons of smaller financial institutions (Part 1)
The ever-increasing importance of a robust BSA/AML monitoring system has become more than clear in recent years. However, an all-encompassing monitoring system often feels beyond the reach of the smaller financial institution. Resources are finite, and some institutions are left floundering when attempting to cover all their bases. What must your small financial institution do to …
