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Location
Cleveland
Member since
2012
Reads
Bank Marketing Strategy Alex Bray Digital Banking Blog The Financial Services Club
Writes about
Payments Regulation & Compliance Retail banking

Jim's blog archive

2013 (9) 2012 (8)
Jim Marous

Jim Marous

Publisher at The Financial Brand
Message Message me Posts: 17 Comments: 2
Bio Marketing services leader focused on building strategic solutions for the financial services industry. Highly rated industry speaker. Career History Industry leading direct marketing strategist and business developer specializing in creating innovative multichannel solutions that drive revenue through acquisition engagement expanding share of wallet and retention. Successfully launched new products and services as well as built and reinforced ex

Blogs

Innovation in Financial Services

Innovation Lacking in U.S. and U.K.

23 Nov 2013

For the third year in a row, I attended the BAI-FinacleGlobal Banking Innovation Awards ceremony that takes place as part of the BAI Retail Delivery Conference. This year's program, which recognizes innovation excellence in the banking industry, drew more than 200 nominations from institutions based in over 30 countries. The two overriding impress...

 

Banks Ignoring Tablet Growth and Potential

11 Nov 2013

According to PEW Research Center, tablet adoption has almost doubled over the past year and for the first time, a third (34%) of American adults currently own a tablet computing device, including almost half (49%) of those in their late thirties and early forties and a majority (56%) of those in higher income households. With this platform becomin...

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The Digital Bank - Interview With Chris Skinner

09 Nov 2013

It is becoming more and more difficult for traditional banks to compete in an increasingly digital marketplace. With most bank systems stuck in the last century, the conversion of legacy technologies to new platforms with total reliability, security and resilience is a massive challenge. How can today's banks evolve to a new model of servicing and...

Innovation in Financial Services

Banks Taking Pragmatic Approach to Big Data

20 Jun 2013

The financial services industry has a vast reservoir of data on their customers, but is in the infancy stage of utilizing this data for financial or competitive gain. In a study published by the IBM Institute for Business Value in conjunction with the Said Business School at the University of Oxford entitled, "Analytics: The Real World Use of...

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Jim is Commenting on

JPMorgan Chase to cut 8000 jobs and shrink branches

  The savings in the cost of making a deposit electronically vs. in a branch can only be achieved if branches are closed. In addition, I am surprised that only 10% of the deposits are mobile. Banks need to change behaviors that are not good for the customer. That said, kudos for biting the bullet on staffing.

26 Feb 2014 Reply Read article

Bank Rewards Programs Benefiting from 'Loyalty Trifecta'

  Based on what I am seeing and hearing, it is more likely that we will see geographic relevance before we see time relevance. The challenge for merchants, however, will be the balance between providing an incentive that drives a purchase that would not already be made vs. either time or space relevance.  While it may be beneficial to reinforce the offer when I am shopping for a similar product/service, I run the risk of providing an offer when the customer was already going to my business (no incremental lift). But, as you mention, the offer is even more relevant if it is reinforced when I am considering going to a competing merchant. The leveraging of data within and outside bank firewalls provides a massive opportunity that is relatively untapped. As Truaxis mentions, the ability to provide reminders for events/purchases/payments that appear to be timed consistently from period to period can enhance the customer experience. Geolocational capabilities also provide tremendous enhancements. I will ask the panel your question during my session at BAI's PaymentsConnect conference on March 12. I think it will generate interesting dialogue. I also will dig deeper into the balancing act from the customer's perspective of leveraging the right amount of data and the big brother syndrome. Thanks for your interest.

04 Mar 2012 Reply Read article