Omega Performance Knowledge Series » Podcast Knowledge Series Audio Only

Recently, Omega Performance sponsored a comprehensive study conducted by Allegiant Partners to explore the effects of the recent financial crisis on both banking executives and consumers in the US. Although the findings show an overwhelming trend of negative consumer opinions about banks and other financial institutions, this information can help banking executives better gauge the depth of consumer attitudes toward banks and what it means in terms of their current and future reputations.

As banks close branches and focus more on deal by deal credit quality, it is easy to lose focus on overall relationship development. Bankers need to look at three planning factors in order to maximize live customer encounters. Learn more on today’s podcast.

In Omega’s many discussions every month with senior and executive managers in North America, we continue to hear that one of the single-most critical business issues that financial services providers are working through, is how to better position their local presence – how to get the branch or financial service center and the Branch Manager – to be the absolute best business partner for small business. Some organizations have succeeded – many of them Omega clients. But there have also been far too many “falsestarts”, with Branch Managers not being fully prepared to answer the charge to deliver value to Small Business owners in an effort to earn their business. There is no doubt that it is a best practice to leverage your local presence to win and expand this important business segment. But first…

Is your organization going to be a leader or a follower in recapturing the consumer loan customer? Consumer lending, excluding mortgage lending, has slowed considerably in most lending organizations, and some simply stopped lending. Now, as more organizations are seeing signs of a turnaround, some forward-thinking lenders are reentering the market with new ideas, and customers are responding. Where does your organization stand? And what will be your market share in a year? In this podcast, we will look at some of the lending strategies of organizations that are leading the pack.

In today’s environment, bankers are being held accountable for their performance to achieve goals at a much faster pace. In order to ensure speed to performance, individuals and must commit to action plans in order to outline the skills and behaviors that are necessary to meet the business objectives.

What do a children’s book, a Nobel Prize, and the World Bank have in common? More than you would think. The book One Hen tells the story of how a very small loan made a very big difference—it’s the story of the effect of microlending. Although microlending has been around for about 30 years, and has been embraced by banks in developing countries, it’s been largely ignored by the major banks in industrialized nations. In this time of economic uncertainty worldwide, what better time than now to embrace the hopes and dreams of small entrepreneurs and help them contribute to economic growth? Learn more by listening to today’s podcast.

Many organizations are looking to implement a best practice referred to as onboarding. Today’s topic will address the importance of implementing an effective onboarding strategy because when done right, organizations experience an increase in cross-selling and customer loyalty and retention.

In spite of the weak economy and concerns about the availability of credit, the market for small business banking relationships is being hotly contested by financial institutions. Recent research shows that a certain group of financial institutions may have a current advantage, but the ultimate winners in the competition for small business relationships will be those who take appropriate action.

For many years, financial institutions have believed that there is a “stickiness” that makes it difficult for business relationships with loans, a checking account and other products to switch to another institution. Today’s constricted credit environment and tougher credit standards have created a sense of uncertainty for even the best business borrowers, who now are more willing to consider other options. The imperative to build and maintain strong commercial relationships has never been greater. Financial institutions that are able to do so are taking quality relationships from weaker competitors. What is your institution doing about it?

Blended learning can be a key tool in helping organizations accomplish their business objectives in these challenging times. Find out some specific ways to leverage technology by clicking on the link for this week’s podcast.