Have you ever caught yourself paying a $3 ATM fee to avoid driving across town? Add up the value of your time, gasoline costs, the need to complete a necessary task and it's easy to justify that $3.
If customers are more likely to find you through an Internet search than by noting your actual existence along their commutes, well, good luck with that.
Avoid a change if your bank lacks the ability or resources to implement it successfully. Instead, consider accepting low growth, managing the institution for cash and returning the excess capital to shareholders.
Bankers say their decisions and progress are retarded by uncertainty about pending government actions. That's nonsense. Seldom has the future been as clear as it is today.
Successful banks are, among other things, focusing on education and employee training courses, establishing a formal enterprise risk management department and tying compensation to clearly defined best practices.
Developing and implementing programs that accurately detect consumer vulnerabilities in the marketplace is important to better manage risk at financial institutions and for public policy purposes.
