Raddon Report

Raddon Report

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Wednesday, November 10, 2021
Megan Cummins

According to the U.S. Bureau of Labor and statistics, the price of new vehicles has soared in 2021. A microchip shortage has reduced vehicle supply, and consumer demand has increased as conditions surrounding the pandemic continue to improve.

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Thursday, September 30, 2021
Megan Cummins

Since 2016, consumer demand for mortgages has more than doubled, primarily driven by the low-interest rate environment and rising home purchase intentions. In 2016 and 2018, the Raddon Research Insights study, If You Build It, They Will Come, found the number of households planning to purchase a home in the next two years to be 8 percent and 11 percent, respectively. That figure soared to 25 percent in 2020.

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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.

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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:

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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.

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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.

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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.

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Thursday, November 19, 2020
Jody De Valk

Question: Which credit card offers consumers the best value in terms of travel rewards? Answer: There probably isn’t a “correct” answer, and any answer probably has a lot to do with personal preference. But the question itself is becoming less relevant during the COVID-19 pandemic as travel, in general, and air travel, specifically, has essentially ground to a halt.

lending
Wednesday, September 2, 2020
Greg Ulankiewicz

Effective loan application processes help financial institutions capitalize on a greater share of opportunities for new earning assets. More refined pricing models mitigate risk, faster decisioning lowers costs and discovery of potential product sales contributes to the bottom line.

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Thursday, July 23, 2020
Marcus Rothaar

Raddon typically hits the road in June to host workshops across the western half of the country for participants in our Performance Analytics program. With COVID-19 putting a temporary halt to these in-person meetings, we shifted our workshops to a two-day online event with more than 900 financial services professionals. A sign of the times, 61 percent of attendees logged in to the event from their home offices, as did the Raddon team of presenters.

The Future of Lending Can’t Get Here Soon Enough
Wednesday, May 6, 2020
Greg Ulankiewicz

The economic impact of civic shutdowns, business closures and layoffs in response to combating the novel coronavirus places local banks and credit unions at the center of helping to preserve, if not salvage, the financial well-being of their communities.

On March 22, financial industry regulators released an interagency statement encouraging financial institutions to help borrowers and giving leeway on risk classification requirements for certain loan modifications amid COVID-19.

Predictions for 2019
Thursday, February 6, 2020
Bill Handel

How did we do in our industry predictions for 2019?  Here are the predictions we offered up one year ago, along with an assessment of our foresight. Overall, our crystal ball was good, but with a few notable exceptions, which were due to the Federal Reserve’s reversal of its interest rate course.

Wednesday, October 30, 2019
Marcus Rothaar

“Apple Card is here. A credit card created by Apple, not a bank. Built for simplicity, transparency and privacy. Apply now on your iPhone, and start using in minutes.” – Apple Inc.

Thursday, September 12, 2019
Caroline Vahrenkamp

It’s that time of year! Time to prepare for next year and to plan for the annual Raddon Conference, held in Chicago on November 4th to 6th. Given all the uncertainty about the economy and rate environment, we hope to shine a light on the way forward for you. Here are five big strategic questions for us to answer as we plan for 2020:

Wednesday, May 22, 2019
Caroline Vahrenkamp

Marketers and product managers at financial institutions know that a product’s features and benefits can make or break that product. As a result, institutions spend significant time and energy measuring their products’ fit in the competitive landscape.

Thursday, May 2, 2019
Marcus Rothaar

Raddon recently hit the road for a series of workshops with participants in our Performance Analytics program. We hosted sessions in 17 cities east of the Mississippi, meeting with over 500 financial services executives along the way. (Note: We’ll be visiting the western half of the country in June; registration is now open for those sessions.)

Thursday, April 4, 2019
Caroline Vahrenkamp

Every year, Raddon conducts nationwide research of consumers and small businesses to understand their motivations, preferences and behaviors in banking. We include our discoveries in four comprehensive reports: Deposit Insights, Lending Insights, Payments and Channels Insights and Small Business Insights. Subscribers to the Raddon Research Insights program receive these four studies as well as an invitation to a webinar giving highlights and strategic recommendations.

Thursday, February 21, 2019
Caroline Vahrenkamp

Many banks and credit unions rely on indirect vehicle lending as a sizeable component of their earning asset mix. However, pressure from a variety of sources should make institutions reconsider its role in that mix.

In our recent study for Raddon Research Insights, “Self-Drive My Car: Buying and Financing in an Uber World,” we look at ways technology is influencing consumers’ behavior in buying and financing vehicles. The trends are not positive for lenders.

Thursday, December 6, 2018
Caroline Vahrenkamp

What a Conference!

Another Raddon conference is in the books, and what an event it was! So many factors came together to make it exceptional – insightful keynote speakers, engaging breakout sessions, Raddon Rocket cocktails, reasonably good Chicago weather – that everyone involved had a blast.

If you didn’t make it this year, be sure to plan for next year’s event. In the meantime, here are seven key takeaways from the 2018 conference about the industry and the economy.

Tuesday, November 20, 2018
Caroline Vahrenkamp
Millennials should be the best borrowers for banks and credit unions, yet student loans are crippling their ability to borrow. Andrew Vahrenkamp from Raddon walks through what financial institutions can do to help boost this crucial borrowing segment.