by Kristin Moyer | December 7, 2009 | Comments Off
The tide is turning in financial services. Governments, responding to constituents infuriated by things like executives going to a spa after recently receiving government bailout money, have been pressuring financial institutions on executive compensations all year. Financial institution executives are now pushing back. The board of RBS is apparently threatening to resign if the government doesn’t [...]
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Category: Executive Decisions Uncategorized Tags: compensation
by Kristin Moyer | December 2, 2009 | Comments Off
It’s in the headlines more and more – commercial payment fraud. Gartner analysis of the results from recent surveys and reports from some private and public sources indicates that, while current efforts to detect and deter commercial payment fraud seem to be working on the whole, rapidly changing business conditions are driving the need for [...]
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Category: Uncategorized Tags:
by Kristin Moyer | November 6, 2009 | Comments Off
Some IT vendors and banks are starting to think of PayPal and other non-bank providers as a friend rather than a foe. This is a good idea, and one which we have proposed 2 years now in our research (Gartner client access only): • PayPal and Google Checkout Show the Way for Banks’ Payment Operations [...]
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Category: payments Uncategorized Tags: paypal
by Kristin Moyer | October 21, 2009 | 3 Comments
Gartner has been writing about Pattern-Based Strategies for some time now. It’s an existing body of research, here are some examples (for paying customers): “Introducing Pattern-Based Strategy“ “Balance Investment in Four Categories to Support Pattern-Based Strategy” “Five Eras of IT Business Value Add: From Automation to Pattern-Based Strategy” “CEOs and Chief Strategy Officers: Balance Investments [...]
Category: operations Uncategorized Tags: loan portfolio management, pattern-based strategy
by Kristin Moyer | October 15, 2009 | 1 Comment
Bank bashing continues. UK consumer group Which? has launched a campaign dubbed “Britain Needs Better Banks.” Which? says that three quarters of consumers they have surveyed think banks aren’t genuinely sorry for causing the financial crisis. Which? is inviting consumers to vote for theme songs for this campaign such as “Gold Digger,” “Take the Money [...]
Category: Customer Uncategorized Tags: communication, customer trust
by Kristin Moyer | October 9, 2009 | Comments Off
Card issuers have taken swift action to stem credit losses and deal with changing legislation. They have proactively shut some cards down, they have lowered credit limits on others. They have raised interest rates in anticipation of new legislation. Cardholders aren’t thrilled: 32% of cardholders have paid off and closed an account since January 2008 [...]
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Category: operations Uncategorized Tags: cards, credit cards
by Kristin Moyer | September 28, 2009 | 1 Comment
Loan portfolio management in the US residential mortgage industry has hit a speed bump. The Home Affordable Modification Plan (HAMP) uses a rule-based formula for driving the terms of a modified loan to 38% debt-to-income (DTI) ratio, with the Treasury matching further reductions in payment to 31% DTI for the borrower. This leaves no room for intelligent [...]
Category: operations Uncategorized Tags: default management, loan portfolio management, us mortgage industry
by Kristin Moyer | September 17, 2009 | 1 Comment
David Furlonger on the rainy west coast of Canada. Okay so here’s the thing. Today, out of the blue, I was called by my main relationship bank. The caller started the call by identifying who I was – odd on the basis that they called me personally. This was not one of my two main [...]
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by Kristin Moyer | September 16, 2009 | 2 Comments
We’ve had some client interactions with C-level banking executives and others lately that have shown that many banks are so focused on operations and products that they do not understand who their customers are or what their customers really want. While many other industries have become more buyer-centric (for example, travel, e-commerce), banking has not. [...]
Category: Customer Uncategorized Tags: customers as co-creators of innovation, innovation, lending
by Kristin Moyer | September 15, 2009 | 5 Comments
Giving trust away to customers and employees can inspire trust, loyalty and innovation. Consider several cross-industry examples of giving trust away to get it back (sources: “HOW: Why HOW We Do Anything Means Everything…in Business (and in Life)”, Seidman, 2007; JetBlue): A doughnut vendor in New York City puts a pile of coins on his [...]
Category: operations Uncategorized Tags: innovation
