A small but growing number of innovators are recognizing the market opportunity that the average underserved customer represents. New products address the "money in, money out" pain points.
Banks are the much needed facilitators for the export market, providing financing, greater information flows, risk mitigation and foreign banking relationships.
"Face It, Bankers: You're Not Apple" contends banking shouldn't focus on innovation and instead should act like the utility sector. When was the last time the water company created a Visa or PayPal?
Most of the data security focus is on protecting credit card and account numbers, so criminals have appropriately shifted their strategy to take advantage of low-hanging fruit.
You may already be involved in attempting to engage your customers and prospects through social media, but how are the same social channels influencing activity throughout your bank?
When you outsource, your control is weakened. Vendors may not believe that their revenues depend much on whether your customers get more value - or even a fair deal.
