Raddon Report

Raddon Report

Thursday, August 5, 2021
Marcus Rothaar

Revenue generated from overdraft fees has been on a steady decline for the past decade, driven by changes in consumer behavior combined with political and regulatory pressures. There’s been a recent surge in changes to overdraft programs from many financial institutions, and banks and credit unions need to consider how much of an impact these market changes might have on the organization and business model.

Thursday, July 29, 2021
Marcy Scanlin

Financial institutions face constant cybersecurity threats in the form of account takeovers and ransomware attacks, according to Rick Van Luvender, vice president, Global Security Services, Fiserv.

Thursday, July 22, 2021
Megan Cummins

As more consumers – especially millennials – grapple with managing their finances, the opportunity is ripe for financial institutions to offer financial literacy programs and build loyalty among accountholders.

Thursday, July 1, 2021
Helen Acke McComiskey

As the world emerges from the pandemic, financial institutions are realizing that some consumers are less than satisfied with their overall experience over the past 12 to 18 months. In new analysis of relationship surveys Raddon completed for dozens of institutions, it’s clear that accountholder perceptions of their experience have been declining for some time, but the pandemic accelerated that decline.

Thursday, June 17, 2021
Jody De Valk

Around the end of the first quarter 2019, Apple announced its second entry into the financial services space: the Apple Card.

It promoted this credit card in true Apple fashion, and the world took notice. The promotional video that accompanied both the announcement and subsequent rollout of the card later in 2019 was viewed by millions on YouTube, creating serious buzz in the financial services world.

Thursday, June 3, 2021
Caroline Vahrenkamp

The pandemic and its accompanying economic fluctuations have upended how consumers bank, impacting not only their behavior but also their expectations. Too many financial institutions are assuming their accountholders are the exception. They aren’t. Just ask them.

Thursday, May 27, 2021
Karen Kislin

Most financial institutions are focused on growth over the next 18 months; attracting new customers or members and especially growing loan balances in order to succeed with significant margin compression. To meet these goals, organizations must have an engaged workforce.

Thursday, May 20, 2021
Marcy Scanlin

By: Marcy Scanlin and Caroline Vahrenkamp

With 46 percent of consumers anticipating applying for a loan this year, it’s more important than ever to get your share of the market before it cools. In lending, timing is everything: Knowing who is in the market for what NOW is how financial institutions gain, preserve and recapture the share that is increasingly going to the largest banks and virtual lenders.

To be in the right place at the right time with the right offer, your lending department needs to know:

Thursday, May 13, 2021
Marcus Rothaar

Minority-owned businesses have been disproportionately impacted by the COVID-19 pandemic, with higher rates of business closures and slower rates of recovery. At the onset of the pandemic, research from Robert Fairlie at the University of California, Santa Cruz estimated the number of active small business owners dropped by 22 percent between February and April 2020. Black-owned businesses were impacted most severely, with a 41 percent drop.

Thursday, May 6, 2021
Helen Acke McComiskey

In previous Raddon Report posts we addressed the characteristics of profitable and unprofitable accountholders and ideas for growing relationships with both.  Our most recent Raddon Report provided several tactics for turning unprofitable households into profitable ones, and now we’ll share a case study that shows those tactics in action.

Thursday, April 15, 2021
Becky Summers

I have heard many financial institution executives say that 2021 is the “year of the card” when it comes to loan strategies, and consumer demand appears to be supporting that approach. But to deliver on loan strategies that involve credit cards, financial institutions must be willing to look at credit card offers at all levels.

Thursday, April 8, 2021
Megan Cummins

By:  Megan Cummins and Jan Trifts

In a recent Raddon Report article, Characteristics of Your Most Profitable Households, we discussed the importance of understanding what makes an accountholder profitable. In this report, we’ll discuss the characteristics of your unprofitable households and provide strategies for engaging them.

Thursday, April 1, 2021
Jan Trifts

In a recent Raddon Report article, Understanding the Profitability of Accountholders, we discussed how the pandemic and its accompanying economic slowdown have compressed margins at banks and credit unions, putting pressure on earnings. We stressed the importance of understanding what makes an accountholder profitable. In this report, learn how to identify and retain your most profitable retail accountholders, focusing on the top two performing groups – the A and B retail households.

Thursday, March 25, 2021
Greg Ulankiewicz

The definition of credit is the ability to obtain money, goods or services with the expectation that repayment will be made in the future. In case that wasn’t clear enough, recent entrants in the lending space have introduced new solutions dubbed “buy now, pay later.” These online and app-based lenders may currently be niche players, but they are part of a growing trend of new flexible lending solutions.

Thursday, March 18, 2021
Caroline Vahrenkamp

The 2020s look to be a challenging environment for financial institutions. Here are five strategic takeaways from the 2021 Raddon Conference to help banks and credit unions navigate a path to prosperity.

Thursday, March 4, 2021
Caroline Vahrenkamp

Caroline Vahrenkamp and Lynne Cornelison

While the spotlight has been on the “little guy” versus the short sellers, the real story of the /WallStreetBets saga is the desire for any sort of return.

Thursday, February 25, 2021
Bill Handel

A year containing a pandemic is, generally speaking, not a great year to have made predictions. In this review of the predictions we made for 2020 in January of last year, we will eat some crow. However, many of the things we thought might happen did, in fact, turn out to be the case. 2020 was a wild and woolly year, but on balance we were surprisingly prescient. However, we did miss clearly on the start and the magnitude of the recession.

Here are the predictions made last year and an assessment of each’s accuracy.

Prediction 1: What we said:

Thursday, February 18, 2021
Becky Summers

By: Becky Summers and Eric Wittekind

big da·ta

The Oxford Dictionary defines big data as extremely large data sets that may be analyzed computationally to reveal patterns, trends and associations, especially relating to human behavior and interactions. Sounds like what we all need, but it is easier said than done.

Thursday, February 4, 2021
Jody De Valk

I’ve been using the same satellite TV provider for about 15 years. From that you can safely infer that I’m a loyal customer. But in this case, my loyalty isn’t why I keep my current satellite service. As a matter of fact, I have no more affinity for my current provider than I do for any other cable or streaming service. No, the only reason I stay is because my provider has a relatively exclusive relationship with the NFL, and I’ve been a football fan since I could walk. That’s it.

Thursday, January 28, 2021
Marcus Rothaar

With the passage of December’s $900 billion coronavirus stimulus package, the Paycheck Protection Program resumed on January 11, giving financial institutions another opportunity to facilitate much needed assistance for struggling small businesses. While small businesses have shown signs they are becoming more optimistic that business conditions will improve in 2021, challenges still exist in many sectors.