Correspondent Blog

For any business to succeed, managers need to understand their competitive landscape. What the competition is offering, delivery channels, pricing methods, and service levels helps community banks differentiate their offering and enhance their competitive advantage. Unfortunately, the competitive analysis for the broadly defined banking industry is challenging to understand because of the rapid innovation in…

Many banks pride themselves on superior customer service, and approximately 90% of all community banks believe that they provide an above-average level of customer service (the math cannot work that way).  The reason bankers should want to provide an above-average level of service is to increase profitability, which translates to charging customers more in the…

Community banks pride themselves on superior customer service. Approximately 90% of all community banks believe that they provide an above-average level of customer service (of course, the math cannot work that way, as half of all banks should be providing a below-average level of customer service). Research by various consultants shows that 80% of companies…