Stessa Cohen here. One thing that is hard for an industry, for an organization that has a long tail of history and relies on “the way things have been done” is change. Big surprise, right? So, naturally, when some bankers read about the Obama administration’s plans to add more regulatory controls, they must be worrying about [...]
Entries from April 2009
Transparency & Communication with Proposed Credit Card Regulatory Changes
April 29th, 2009 · 2 Comments
Tags: Customer · operations · payments
Spontaneity of Social Media at Odds with Rigors of Regulatory Compliance
April 28th, 2009 · 1 Comment
Stessa Cohen and Rick DeLotto here. Twitter is NEW! Twitter is fun! Twitter ‘s structure- (each post is only 140 characters long) encourages simplification and vivid writing. Oh, yeah: Twitter is permanent. Your tweets are out there, re-tweeted by your followers, picked up by blogs and PR firms, emailed around the world.
Spontaneity and regulatory compliance [...]
Tags: Customer · Executive Decisions · operations
Review your Pandemic Plan… and wash your hands.
April 27th, 2009 · 2 Comments
Rick DeLotto and Roberta Witty here with some thoughts on the Influenza Uproar… please note that, as of this writing, no epidemic or pandemic has been declared.
First, don’t panic— if you are a US bank you should already have a written and tested pandemic plan in place. We suggest you review it, check your local [...]
Tags: Customer · Executive Decisions · insurance · operations · payments
Improving Business Processes in Banking
April 17th, 2009 · 2 Comments
Each year, Gartner does a survey of CIOs from around the world. We ask them what their priorities are, both in terms of business and IT. For 2009, one of the top business priorities for financial services firms is to improve business processes (formal results to be published shortly). This is also a top priority [...]
Tags: operations
Customer Data Integration: Think Ideally! Act Pragmatically!
April 15th, 2009 · 3 Comments
Mary Knox here. As Stessa Cohen and I continue our research on customer data integration (CDI) and multi-channel integration (MCI), I am reminded again of the need to focus on not only what should be done, but also on what can be done.
As we outline in our research, there are three styles of CDI [...]
Tags: Customer · operations
Become a Student of the East
April 14th, 2009 · No Comments
We adopted our youngest son from China about two years ago. While I have always been interested in Asia and the East, I have since become more interested. Over about this same period of time (and certainly starting long ago), the balance of power has shifted between the East and the West. The East (the Middle [...]
Tags: Executive Decisions · Uncategorized
Cost Cutting in 2009: Reducing the Cost of Foreclosure with Advanced Mortgage Analytics
April 9th, 2009 · No Comments
In the US alone, there is a projected loss of $1.1 trillion from residential mortgages held by investors and banks worldwide (source: The Goldman Sachs Group). I’ve been asked a lot lately about technologies that can help ease the drastic market conditions facing the financial industry. Advanced mortgage analytics is one of them, and I [...]
Tags: Customer · Uncategorized
Divestiture and IT Transformation
April 3rd, 2009 · No Comments
Kristin Moyer, Rick DeLotto and David Furlonger here. A couple months ago David and Kristin wrote about the looming wave of divestiture in the banking industry. We noted several factors that would accelerate divestiture in the banking industry, including the need for banks to raise capital (and therefore sell portions of their operations) and the [...]
Tags: operations
The Opportunity of Divestiture in the Banking Industry
April 2nd, 2009 · No Comments
Kristin Moyer and Rick DeLotto here. The recent announcement that Fifth Third will be selling a stake in its payment processing unit is a reminder of the looming divestiture that is beginning to take place in the banking industry. A couple months ago our colleague David Furlonger and Kristin wrote about the looming wave of divestiture in the banking [...]
Tags: Executive Decisions · Uncategorized