In this digital era, it’s no longer a surprise to see “Welcome back,” followed by your name on the home screen of an app or website. The consumer is increasingly conditioned by e-commerce giants, such as Amazon, to expect a certain degree of personalization. In the words of Dave Carnegie, “a person’s name is, to that […]
Personalization Strategies for Banks Read More »
For our physical health, we have doctors and personal trainers. For mental health, therapists can help. But do you have someone to assist you with your financial well-being? As digital capabilities continue to improve, the need for convenience has largely been met. But what about financial advice? Most institutions offer solid transactional services, but providing
How To Improve Your Bank Customers Financial Health Read More »
Creating a name for a company, a service or a product is an important part of the overall branding strategy for a business. A great name helps convey what a brand stands for and is aligned with both the brand personality traits and its value proposition, helping build brand equity. Inviting employees and/or customers to
Naming Strategies for Your Business, Product, or Service Read More »
It should come as no surprise that most conversations in the banking industry these days are focused on how the industry needs to innovate. The search for innovative banking solutions concentrates on new channel strategies, partnering with Fintech industries, reinventing the branch experience, and exploring AI to deepen the personalization of services. However, none of
How Banks Can Redefine Their Business Model Read More »
In our recent white paper, How Banks Can Leverage a Walletless World, we discussed how new entrants in the financial industry, including start-ups and tech giants, are threatening banks by offering services in areas in which clients are being underserved. In this blog, we will discuss how banks can go beyond a simple brainstorming session and
Alternative Ideation Methods for Banks Read More »
There is a lot of confusion in the financial industry about the blurring lines between banks and other financial service industries, not to mention online-only banks and Fintech startups. Fintechs forced banks to make convenient transactions a basic requirement for all financial institutions; however this change left the human relationship aspect of banking on the
Are Insurance Companies the Latest Threat to Banks? Read More »
An RFP, or Request for Proposal, is an official document that notifies potential suppliers of a new project and asks for a detailed response of their proposed fees, team members, and process. This method aims for fairness and clarity in competition for the work. A clear and concise RFP will make searching for a supplier
Checklist for an Effective RFP Read More »
There are no guarantees or crystal ball allowing banks to predict what 2019 will bring them. However, through the use of scenario planning, learning from like-minded industries who have overcome similar challenges in addition to a strong company culture, banks can embrace the twist and turns in business easily while ensuring the organization remains resilient.
How Banks Can Plan For 2019 Read More »
As 2018 comes to a close, it is time to look ahead to what will influence the banking industry in 2019 and your goals for the new year. Do you have a plan for key strategic initiatives that you want to accomplish? Major trends of digital transformation and customer centricity will continue to be relevant,
The Three Biggest Opportunities for Banks in 2019 Read More »
Banks have been slow to adopt what is often referred to as content marketing, or content strategy – but now that the return on investment is becoming clear, it’s important for financial institutions to catch up. What exactly IS content strategy, and why do banks need to make this investment? Content strategy is the planning,
Why a Content Strategy for Banks is Important Read More »
The role of banks as financial service providers continues to be threatened by start-ups and tech giants who are offering services in areas underserved by traditional banks. How can established financial institutions combat this trend? In this white paper, we look at how banks will need to embrace change in order to stay relevant, and why understanding consumer
How Banks Can Leverage a Walletless World Read More »
In today’s highly competitive and quickly-changing banking industry, the pressure is on for banks to prove their relevancy to their customers and outperform their competition. Banks today understand the critical need to connect with customers emotionally and to develop services to fulfill their unmet needs. And yet, innovation can be a difficult process to nurture
How Financial Institutions Can Drive Innovative Culture Read More »
With so much access to information these days, decisions can be hard. We are all generally more informed, but there are also more options to consider, opinions to hear, and claims to be validated. Simplification can help address this issue, and many industries have leveraged it in their branding and business strategies in order to
How to Simplify the Banking Experience for Customers Read More »
Banks shouldn’t be playing catch up with their customers, but as the pace of change intensifies, retail banks are always at risk of falling behind. In this white paper, we explore what you need to know to connect with customers in the year 2025, and some of the scenarios that may take place in the future, namely:
When Customer Behavior Catches Up with Banking Technology Read More »
The banking industry is in an era of tumultuous change to say the least. It makes logical sense to look at your competitors, but what exactly are you looking for? Knowing how to mitigate the risk and optimize the return on investment for such huge initiatives requires a lot of background work from the start,
Worksheet: Benchmark Marketing for Banks (and How to Use It) Read More »
On Thursday, September 20, Shikatani Lacroix hosted a book launch in celebration of the release of Jean-Pierre Lacroix’s newest book, Desire by Design: What Data-Driven Marketers Should Know About Driving Desire for their Brands. Taking place at The Broadview Hotel in Toronto, the event consisted of a keynote presentation, panel discussion, and book signing. Jean-Pierre’s
Shikatani Lacroix Celebrates Release of Desire by Design Read More »
Conventional thinking has brands constantly scrambling to give customers what they want. But what if wanting is no longer enough? A customer may want a great mobile phone, for example, but a huge majority will choose the now iconic iPhone, regardless of what other phones are available. This is not simply about wanting. It’s about
In order to gain a better understanding of how the bank branch might evolve, we initiated a research project to investigate potential outcomes for the branch. This white paper will discuss our process and the key findings to date, and some potential implications for branch networks. Our strong belief is that the physical branch is a
NXT Bank: From Branches to “Fincosystems” Read More »
Banks are transforming their branches at an unprecedented rate – but will they get it right? Given the enormous amount of time and resources these projects require, it is critical that they be carefully considered as more than just an aesthetic update. New branch formats are emerging based on the idea that expedience is what
Branch Formats and Archetypes for the Future Read More »
Edge computing is a new way to process data that has the potential to revolutionize the banking customer experience. Although we are in the early stages of seeing this technology applied, banks stand to benefit enormously from this method of triaging data – it has the potential to reduce costs, increase security, provide highly curated
Banking on the Edge: The Digital Implications Read More »
