Welcome To
The Bottom Line

SRM Perspectives on Key Industry Trends

Harnessing CRM to Deliver Sustained Success

Posted by Simon Rose on Jul 6, 2023 11:19:00 AM

CRM Blog Image

The concept of Customer Relationship Management (CRM) dates back centuries – even if the “database” resided in a shopkeeper’s memory or, at best, a handwritten ledger. It wasn’t until the 1980s that modern marketing techniques sought to harness growing computing power, turning CRM into a multi-billion-dollar industry.

Read More

Topics: Vendor Contract Negotiation, Benchmarking, Bank Vendor Management, Credit Union Vendor Management, Data Analysis, CRM, Customer Relationship Management

How Lending Institutions Can Leverage Data and Benchmarks to Boost Performance

Posted by Bob Koehler & Tim Keith on Mar 31, 2021 10:00:00 AM

5Qs_Blog_SocialImage-01-01

Bankers may need little convincing to see that we’re dealing with highly unusual market conditions, but the data certainly helps put the situation into perspective.

In 2020, the number of new checking households dropped by half compared to a typical year of account openings, however the average checking account balance grew by an astonishing $1,833. Indeed, many experienced a meaningful increase in liquidity, though not all higher checking balances reflect greater wealth. There have been unusually high shifts of expiring CD balances to more liquid savings vehicles, as well as an influx of government economic relief funds. On the other hand, fewer are opening new accounts. This could have dire consequences for individual institutions if it becomes a long-term trend since household growth is the lifeblood of community financial institutions (FIs).

Read More

Topics: Credit Union Portfolio Management, Lending Strategy, Growing Lending Portfolio, Banking Benchmarks, Credit Union Benchmarks, Normalization, Activate Relate Acquire, Deposit Influx Strategy, Peer-to-Peer Statistical Normative, Data Analysis

Subscribe to our blog

Recent Posts

Archives

see all

Posts by Topic

see all