“A checking relationship with rewards – and no monthly debit card fee.” That’s the online promotion Citi is running right now. No doubt other financial institutions soon will be spinning similar themes, as big banks rush to abandon planned debit card fees in response to growing and vocal consumer frustration, much of it playing out via social media.
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Will YouTube be coming soon to your TV? Of course they will.
Having been thoroughly bashed last year, bank brand reputations appear to be showing signs of recovery. In American Banker’s second annual survey, administered by the Reputation Institute, 30 banks showed, on average, positive increases in a range of categories as scored by consumers. While not out of the “reputation woods” yet, banks appear to be paying extra attention to key areas outside of products and services, and that intense focus is equating to higher scores.
Last night Fargo was hit with a blessing in disguise. A storm that included a Tornado Warning swept through town, knocking out power and sending even the most stubborn of us to our basements.
Bank organization charts typically have lagged behind consumer and market forces. In many cases, banking units have been shaped by a “bricks-and-mortar” structure, reflecting vertical business lines such as retail, commercial, mortgage, trust and insurance, and supported by operations, compliance and IT. Is it time for an extreme bank org-chart makeover? Industry analyst Terence Roche thinks so.
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