Consumers Want It Their Way
June 5, 2006
***Do you think you're going to influence a business customer or consumer to do their banking your way? Even in the remotest small communities, people read a lot, and they want to believe they can get what the money center banks offer their customers. Any bank that wants to compete today will need all 14 delivery channels, every account type, any product and service offering, every payment mode, and be willing to adopt whatever is coming next. ... This is the Wal-Mart era of banking, and Wal-Mart is coming to banking.
All Banking Is Local
May 22, 2006
***Tom Friedman makes a very good case about how flat the world is now. ... When I last made a deposit at a drive-up teller, the tube sent back a little white tin container with several jelly beans in it. I ate them all. That's when I knew I was in good hands at my bank. And Tom, you guessed it, the tin container was made in China. Account relationships are like the family kind. They're very important, and if you ignore one, they'll let you know about it, with a lot of attitude.
Getting Out of the 1960s
May 10, 2006
***There's something wrong with bank technology, folks, and I'll begin with my profession. 1) Consultants should be disturbing the status quo. 2) Bank examiners should be sending up red flags telling bankers we can't stand another Y2K. 3) CIOs should be taking a sabbatical in India. 4) At least four vendors that I know should put 200 banks on their priority list called, "How Not to Act Like FEMA." And 5) bank CEOs should begin their next management meeting with, "What are we doing to get out of the '60s?"
The Trend Micro Virus Map displays up-to-date information about virus infections detected by HouseCall, Trend Micro's free online virus scanner for PCs, and about viruses currently spreading throughout the world. Trend Micro uses the map to analyze worldwide virus trends in real time and to predict and prevent outbreaks.
Seniors Logged On
Web-only Bank of the Internet USA (San Diego) launched www.seniorbofi.com, an Internet "banking community" providing information and online services specifically for seniors' needs in banking and personal finance. Senior-friendly features include adjustable type sizes and easy-on-the-eyes colors.
The American Bankers Association published a guide to help banks with their disaster recovery strategies. The "ABA Emergency Preparedness Toolbox" combines lessons learned from Hurricane Katrina and other disasters. It is available at www.aba.com.
Playing by the Rules
In his editorial, Wall Street & Technology Editor-in-Chief Greg MacSweeney offers some interesting reflections on the cost of SOX and how many companies are realizing that staying legal just might be worth it.