Category: Growth & Productivity
Why Customer Segmentation in Banking Is Crucial for Marketing and Service Offerings
Banks and credit unions have been using customer segmentation strategies forever. It’s also been a challenge to devise useful strategies. That’s because financial institutions were limited by clunky back-end legacy systems that made it difficult, if not impossible, to get reliable data. Even Citibank, led by tech visionary John Reed — the bank that introduced…
The Top Reasons for Avoiding Digital Transformation and Why Credit Unions Should Do It Anyway
Digital transformation in banking is a top goal, but obstacles limit adoption rates. Transformation roadblocks include legacy systems and implementation costs. Likewise, leadership may question the timing of digital initiatives. While these concerns are valid, forgoing digital expansion may pose a greater threat. Learn about the challenges banks and credit unions face, then discover how…
Remaining Agile and Innovative During Slow-Growth Periods
Even the best-run institutions seldom enjoy an indefinite run of steady, gratifying growth. Banking trends run in cycles and slowdowns and reversals will happen, sometimes with little warning. Some institutions will hunker down defensively, conserve their resources, and wait for the situation to improve. Others will leap to the opposite extreme, reacting with alarm and…