BankThink

Cross-selling can be a crucial revenue-boosting tool when properly implemented. Credit unions that devise a well-defined strategy based upon proven techniques have the best chance of reaching their cross-selling goals.

April 2014 is National Financial Literacy Month, and perhaps in that spirit, a brief history lesson might be appropriate.

B of A Settlement Blues; Mortgage Collapse

Having spent some time last week with some CU folks, I've come to the conclusion that Bitcoin may be the most appropriately named product/service ever. Because most folks either understand a bit, a little bit or not a bit about what proponents keep calling the "currency of the future."

According to the Millennial Disruption Index, millennials believe payments innovation will come from outside their bank, with nearly half showing more confidence in what startups and technology companies add to payments than what their banks do. This presents a challenge and an opportunity for financial institutions moving forward.

By offering comprehensive business card features, banks and credit unions are positioned to meet the unique requirements of small business credit card account holders and compete with the largest financial institutions.

New York's top financial services regulator Benjamin Lawsky has indicated he will hold individuals accountable in enforcement actions. But it’s imperative his agency – and others that plan to follow suit – adopt and follow defined procedures that consider an individual’s unique, more vulnerable position.

Housing Market Looks Lukewarm; Rating Agencies Red-Hot

Most financial institutions and issuers of debit and credit cards, as well as merchant branded private label payment schemes, miss three key areas of due diligence in their return on investment (ROI) analysis of card-linked offers (CLO) programs: Incremental merchant results (Performance), Consumer offer targeting (Relevancy) and Merchant offers (Content).

By buying more goods and services from businesses rooted in diverse communities, banks can build bridges with those communities and expand their customer base. And by expanding their networks of potential suppliers, banks can obtain better quality services at lower prices.