BankThink

Banks Overemphasize Channels, Neglecting Product

10/28/16

What matters is what the customer gets, not how they get it. Investing in digital distribution yields little unless banks are delivering the products and services that customers crave.

[more]

Morning Scan: No Update on Deutsche Negotiations; Chatbots Coming

10/28/16

Breaking News This Morning ...

UBS profits fall: Unlike other large international banks, which have mostly been reporting better-than-expected earnings for the third quarter, UBS reported its net profit dropped more than 60%. Net profit fell to 827 million Swiss francs from 2.1 billion francs in the same quarter last year. Analysts were expecting 945 million francs. Last year's figure was inflated by a large one-time tax benefit. The Swiss bank said it continued to experience...

[more]

Women in Banking: Qualities for Success; Equity on the Small Screen

10/27/16

A report on women in the financial services industry illuminates some of the ways gender is still a factor holding them back. One problem is unstated ideas about qualities for success, which have been decided over decades by men. It seems that gender diversity initiatives aren't helping, but a couple of headhunters have some suggestions for how banks can do better and so does Debbie Matz. "Equity" screenwriter Amy Fox talks about what she learned from women on Wall Street, and the film is set to become the basis of a new ABC television series.

[more]

No Hollywood Ending for Women on Wall Street

10/27/16

The last movie about female executives on Wall Street was "Working Girl" in 1983. The end of the movie left the audience feeling euphoric. But in creating the movie "Equity," we set out to explore Â-- as authentically as possible Â-- the experiences women have in this field, and the truths that we encountered in our interviews were not pretty.

[more]

Morning Scan: Deutsche Back to Black; Senate Dems Seek Banker Pay Rules

10/27/16

Breaking News This Morning ...

Deutsche Bank reports: Deutsche Bank reported a profit of €278 million in the third quarter, compared to a loss of €6.02 billion in the year earlier quarter. Analysts had been expecting another loss. The big German bank said it was making progress on turning around its business even as it seeks to negotiate a reduced penalty with the U.S. Justice Department to close a probe related to mortgage securities. Wall Street...

[more]

Wells Fargo's Sales Strategy: Good Intentions Gone Bad

10/26/16

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

[more]

Morning Scan: OCC Asks About Incentives; Wells CEO Apologizes

10/26/16

Receiving Wide Coverage ...

OCC seeks data: The Office of the Comptroller of the Currency has sent formal letters to large and regional banks it regulates seeking information about their sales practices and incentive-compensation plans following the Wells Fargo scandal. JPMorgan Chase, Bank of America, Citigroup and Santander USA were among the banks getting letters. Comptroller Thomas Curry told the Senate Banking Committee last month the regulator will "review the sales practices of all the large...

[more]

Measure U.S. Banks' Credit Exposure to Deutsche Now

10/25/16

Neither bank regulators nor banks' risk managers can afford to wait until rating agencies downgrade Deutsche before understanding the level of exposure they have to the German bank giant.

[more]

Morning Scan: MetLife's 'SIFI' Case; Wells Takes Case to TV

10/25/16

Receiving Wide Coverage ...

Court hears SIFI appeal: The U.S. Court of Appeals for the District of Columbia heard arguments from the federal government on Monday that MetLife is a "systemically important financial institution" and requires stricter regulation. The Financial Stability Oversight Council voted in December 2014 that the insurance company was a "SIFI" but was overruled by a U.S. district court judge earlier this year. The FSOC is now appealing that decision. "Beyond issues related...

[more]

Seven Features Your Bank's Mobile App Needs to Succeed

10/24/16

To land and retain millennial customers, mobile banking apps must graduate from simply replicating online banking on a phone to leveraging the native functionality of mobile hardware.

[more]