12 December 2017
George Ravich

FinTech Marketing Insights

George Ravich - Earnix, Inc.

7Posts 37,038Views 5Comments
Finextra community

Transaction Banking

A community for discussing technology trends, views and perspective in global transaction banking

A silver lining with a smile?

06 August 2009  |  3338 views  |  0

Of course the silver lining had to show up at some point – at our recent US client conference, we surveyed 80 mid-sized US banks and 75% agreed that the credit crunch is presenting real and “unprecedented” opportunities for transaction banking business growth. That’s a strong rallying call and perhaps not entirely surprising when we have seen the large banks greatly injured by this crisis and all those left standing going back to basics for steady income return – I like to think I was one of the first to stick my neck out and call the payments business sexy for banks in 2009 and so far this is proving very true.

No doubt, some mid-size banks are getting aggressive to seize market advantage and are going against market predictions to invest strongly in new technology (50% said they are investing more in transaction banking than other areas). But what I found interesting is that almost everyone (75%) agrees that the most effective way to compete is to extend personalized service. And who better to provide the personalized touch than the local banker.

There has long been a clash between people and technology – especially when it comes to service. We want services quickly, but we want to speak to a “real person” when we get in touch with companies. Too often we forget that technology is imperative to providing improved service. In the march towards technological superiority, it will be those banks that can combine personalized service with efficiency that  will win out.


Comments: (0)

Comment on this story (membership required)

Latest posts from George

The way to corporate banking customers' hearts? Go mobile!

03 June 2011  |  4480 views  |  1 comments | recomends Recommends 0 TagsMobile & onlinePayments

Transaction banking: monetising the data goldmine

14 September 2010  |  5742 views  |  1 comments | recomends Recommends 0 TagsPaymentsSibosGroupTransaction Banking

Corporate Treasury - The New Reality

12 July 2010  |  4543 views  |  0 comments | recomends Recommends 0 TagsPaymentsWholesale bankingGroupTransaction Banking

Digging for Gold - Winning in Transaction Banking

16 November 2009  |  8187 views  |  3 comments | recomends Recommends 1 TagsPaymentsWholesale bankingGroupTransaction Banking

George's profile

job title Chief Marketing Officer
location Westport
member since 2009
Summary profile See full profile »
Earnix integrated customer analytics software empowers financial services companies to achieve optimal business performance through data science and predictive analytics. For more information visit ww...

George's expertise

Member since 2008
7 posts5 comments
What George reads
George's blog archive
2015 (1)2011 (1)2010 (2)2009 (3)

Who's commenting on George's posts