Banks can't win back business through optimistic future-focused messaging that ignores the real pain in our country. What customers really want is for their bank to apologize for its missteps.
The payment hierarchy is dynamic. Lenders using historical payment models to set strategy risk significant exposure on their existing loan portfolios as well as on acquisition opportunities when consumer preferences inevitably shift.
Serving the unbanked requires a worldview that most industry insiders don't have, but truly need in order to innovate responsibly on behalf these consumers. Here are insights some companies have gleaned from spending a day as the underserved.
It's been my experience that the closing of in-store branches generates more chatter than the fact that another bank often immediately opens and prospers in those exact spaces.
Banks can retain loyalty while changing their checking account fee structures by personalizing their service practices, continually improving upon the customer's experience and leveraging data generated by their call centers.
Big mortgage servicers wonder why borrowers won't respond to attractive refi offers. How can they be surprised? We've overloaded consumers with such an excess of incoming communications through antiquated channels that they ignore almost all of this
It's in consultants' best interests to extend the foreclosure review engagements as long as possible without coming up with an estimate for each servicer of its total liability to borrowers.
The industry's movement toward plain-vanilla mortgage products since the crisis masks deficiencies in the underwriting process that remain to this day.
Andrew Kahr blames Fannie Mae and Freddie Mac's affordable housing goals for helping "inflate" the housing bubble. Former GOP appointees at HUD see it differently.
