Raddon Report

Raddon Report

rr_2021.08.05
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.

rr_2021.07.22
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.

rr_2021.07.01
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.

rr_2021.06.03
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.

rr_2021.05.27
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.

rr_2021.05.20
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:

rr_2021.05.06
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.

rr_2021.04.08
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.

rr_2021.04.01
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.

rr_2021.03.18
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.

rr_2021.02.25
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:

rr_2021.02.04
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.

rr_2021.01.21
Thursday, January 21, 2021
Karen Kislin

By Karen Kislin and Jan Trifts, Strategic Advisors

New Year’s Day historically has been a time to reflect on the past year and make promises or resolutions to be better in the new year. Over the past 4,000 years of this tradition, the most common resolutions have consistently focused on health, including exercising more and eating healthier, as well as saving more money to be financially healthier.

rr_2021.01.14
Thursday, January 14, 2021
Bill Handel

It’s good to have 2020 in the rearview mirror.

Raddon will provide more detailed predictions for 2021 in an upcoming Raddon Report, but suffice it to say we don’t work from a crystal ball. For 2020, we did not predict a pandemic, a 31 percent decline in GDP in second quarter and a 33 percent growth figure for GDP in the third quarter. Yes, it’s fair to say we’re all glad to have 2020 behind us.

rr_2021.01.07
Thursday, January 7, 2021
Caroline Vahrenkamp

While we all hope that 2021 is less interesting than 2020 was, there’s no doubt we’ll continue to grapple with challenges and opportunities resulting from the pandemic. As we look to a new year, I consider these the top three issues financial institutions face.

rr_2020.12.10
Thursday, December 10, 2020
Megan Cummins

The pandemic and its accompanying economic slowdown have compressed margins at banks and credit unions, putting pressure on earnings. To mitigate this impact, consider understanding how your accountholders contribute to the bottom line.  Are they bringing the necessary value as consumers of your products and services?

rr_2020.11.12
Thursday, November 12, 2020
Marcus Rothaar

In the current pandemic environment, what are the keys to maintaining high performance for your organization? To help answer this question, let’s look at the some of the key characteristics of high-performing financial institutions and which of their traits are most critical right now.

rr_2020.11.05_banner
Thursday, November 5, 2020
Caroline Vahrenkamp

The COVID-19 pandemic has hastened trends that already existed in consumer banking, like the move to mobile. A more ominous shift risks the continued existence of smaller financial institutions.

rr_2020.10.29
Thursday, October 29, 2020
Karen Kislin

The International Monetary Fund (IMF) recently downgraded its global economic growth predictions for 2021 due to the deeper, negative impact COVID-19 has had during the first half of 2020, as well as the slower recovery rate in the second half of this year as previously predicted. In the report, the IMF emphasized how abnormally large the uncertainties surrounding their predictions are due to the lack of clarity regarding the health crisis.

rr_2020.10.15
Thursday, October 15, 2020
Karen Kislin

It is strategic planning season again, and after the year we’ve had, there’s a lot to think about as financial institutions navigate ways to drive future growth. For many organizations, strategic planning will be conducted virtually in some form or another. Some may have portions of their team in one room, socially distancing and wearing masks, while other team members connect virtually. Other institutions will have everyone dialing in remotely.