Banking customers continue inexorably to migrate many routine transactions and services to online channels. In this year’s Novantas Multi-Channel Preferences Study, we find a tipping point has been reached in new and critical areas.
In today’s market, midsized regional and community banks face increased competition for deposits. To overcome their scale challenges and improve their competitive position, leading banks are arming themselves with powerful yet easy to use deposit analytics.
Leading banks are integrating deposit analytics into a single ecosystem for applications, analytics and data. Splintered efforts won’t suffice as performance pressures rise.
As banks look to differentiate performance in 2015, a major question is whether consumers are finally ready to pick up the pace of borrowing.
In a crisis era for branch sales, banks need forward-looking strategies that can anticipate changing conditions, accommodate local markets and adapt to a multi-channel climate.
Many retail banks are missing the chief goal of onboarding, which should be to establish the bank as the customer’s primary cash management provider.
To preserve deposit momentum in a future season of rising rates, commercial banks will need to refine products, pricing and sales force structure. Analytics will be key.
Improved modeling for pre-provision net revenue requires strengthening the project framework, working to overcome data sterility and testing alternative approaches.
New regulatory liquidity standards will force significant changes in how banks manage their balance sheets, impacting both the treasury group and the business lines.
Executives now must think more seriously about how to manage and price relationships. Much depends on an understanding of the customer journey and lifetime potential.