Customer Service at Citibank: People Priority
Follow on LinkedIn | Printer-friendly version (PDF) Writing a weekly newsletter means I am always scouring the news and searching to find a topic that, I hope, allows me to…
The Need for Agility in Risk Management
Earlier this month Jack Milligan of Bank Director magazine wrote an article titled, “When It Comes to Loan Quality, Who Knows?” He summarizes his view in the article’s first paragraph, “It’s still difficult to make an accurate assessment of the banking industry’s loan quality.” Jack lists a number of elements that limit the industry’s and individual bank’s ability to…
The Way Forward? Simple: Manage Revenues and Expenses
Last week I was talking with a friend discussing a financial institution (FI) that was trying to address how to move forward, given the current uncertainty and the economic pressures it faces. Banks operate with a finite number of choices for improving their future performance, and making some decisions…
September 11th, My Doorman, and Us
I was intending to write about issues related to risk management and some of the unique challenges bankers face today. That can wait. This past Friday night, on September 11th, I took an elevator down to our package room to pick up some deliveries. Since the packages were large, the man working the desk, Armato, a slight Cuban 40 year old who always…
Rethinking Small Business Lending…Again
A recent report by “a16Z Fintech Team” from Andreessen Horowitz (AH) discusses the need for what they term “better models for SMB lending” and lays out some choices for Fintech lenders. The article presents a valuable assessment of the current state of Fintech lending, although more types of opportunities may exist for lenders than they suggest.
Speed and Banking…That’s Funny
August 20, 2020 American Banker: “‘There’s a real premium on clock speed,’” said [Bruce] Van Saun, who is the chairman of the $180 billion-asset company [Citizens Financial]. “‘It makes you think, if we were that good on [PPP], how can we extend that to many of the other things we’re doing today?’”
Carrie Tolstedt, Ellen Degeneres, George Steinbrenner, and You
Last week’s American Banker featured an article that resonated: “Wells Fargo consumer chief may testify of ‘fear’ her predecessor inspired.” The article begins: “Wells Fargo’s consumer banking head, Mary Mack, may testify against her predecessor
Inertia is Not a Strategy
Follow on LinkedIn | Printer-friendly version (PDF) For many years the inertia factor has protected banks. Once people open an account and begin to use it, linking various automatic deposits…
Can We Talk?
Follow on LinkedIn | Printer-friendly version (PDF) Joan Rivers, the comedian, died about six years ago. She was known for her hilarious but brutal honesty and acerbic wit when she…
Silo Management
Printer-friendly version (PDF) Years ago, I answered a call from the head of a bank with assets below $1Billion. Until then, FIC had focused on regional and what were once…