WASHINGTON – Post Durbin, the focus must be on building relationships to enhance profitability, and financial institutions will drive that online as much as in-branch, at least one analyst is stressing.
As margins have grown thinner after the CARD Act and the Durbin rules – and with changes certainly coming from the Consumer Financial Protection Bureau – Sam Kilmer, VP of market development with Harland, emphasized the critical importance of stepping up relationship building to improve revenue.
Kilmer advised moving more everyday consumer transactions online to free up staff to make the branch “a true advisory point. What we need to do, at minimum, is get the marginal non-profitable consumers to be profitable.”
Kilmer spoke to Credit Union Journal during the company’s 2011 Connections Conference here.
