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Posts tagged with "Data"

11/09/2017

Best Practices for Branch Surveys Customers Will Want to Take

Nearly everyone has at least one childhood memory of doing something silly or pointless simply because everyone around you was doing it. In fact, YouTube is filled with these kinds of videos … there is even a channel dedicated to it, FailArmy. They post their “fails of the week” which are all submitted by their…

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10/12/2017

Best Ways to Optimize Your Budgeting, Planning, and Forecasting Processes

How does your financial institution approach performance management? Are you still taking a silo approach to the key aspects of successful PM, including planning, budgeting and forecasting (PBF)? Are you trusting the way you’ve always done PBF will keep your organization moving forward in today’s faster, streamlined marketplace? Performance management is evolving, and financial institutions…

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09/06/2017

5 Secrets to Turbo-charging Your Bank’s Performance

Before the Great Recession, most financial institutions were rolling along, reaping return on average assets (ROAA) in the neighborhood of 1.35 percent. ROAA nose-dived (along with practically every other economic and financial indicator) between 2007-2009, only to tick back up in 2010. From 2012 to 2016, the average ROAA was around 1.02 percent. In the…

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06/26/2017

Three Must-Haves for a Successful Onboarding Program

Onboarding – the process your bank or credit union uses to define your ongoing relationship with new customers or members – is a critical part of your marketing strategy. A comprehensive onboarding process gives financial institutions a great deal of control over that relationship starting with the initial enrollment of a product or service. A…

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05/05/2017

How Outsourcing Can Help You Build a World-Class Financial Marketing Organization

In 2017, financial marketers cite establishing ROI and budget concerns as top challenges, according to the 2017 Financial Marketing Trends report from the Digital Banking Report. Sixty percent of financial marketers worry about establishing ROI, 53 percent are concerned how much they should allocate to digital marketing channels, and 62 percent wonder how much to…

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05/02/2017

SOC it To Me in 2017 – Preparing for the SSAE 18

Last year, I published a blog called SOC it 2 Me in 2016 regarding understanding the types of external assurance audits, including a comparison of SOC 1 and SOC 2 engagements. Post the transition from the “SAS 70” era and a few cycles of SOC 1, SOC 2, and SOC 3 engagements; the Auditing Standards…

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03/09/2017

Why the CFPB Thinks Your Data Stinks, and What You Must Do About It

How good is the data your financial institution shares with consumer reporting agencies — the same data other FIs may rely on when deciding whether to approve or decline consumers’ applications for second-chance checking accounts? Not good enough, according to the Consumer Financial Protection Bureau. Earlier in 2016, the CFPB sent out a compliance bulletin…

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