As we write this email, the financial news continues to be sobering. At JP Morgan Chase's April 16 investors call, Jamie Dimon suggested the end of the credit turmoil was in sight. But today (May 3) he sounded more pessimistic: "We can only speculate how deep and how long the recession in the United States will really be and how that in turn will impact banks....We are not done with the crisis for a long time."
We'll continue to focus on strategies and tactics to help you navigate these turbulent and uncertain times. Retail Banking Strategies will provide timely news and viewpoints. The Retail Banking Networkwill help keep you network with peers. Our Articles and Newsletters will try and synthesize strategies for success.
Should You Fire Your Worst Customers? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It is not a surprise that a small number of customers contribute the majority of profits. But what should you do with low value customers that cost more money than they provide in income?
Join the Retail Banking Network ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Interested in joining the Retail Banking Network? This group brings together industry professionals for networking and idea exchange. We think you'll find it a valuable resource. It is hosted on LinkedIn, which is the largest business networking organization. Click here to join
Improving Site Selection for Bank Branches
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David Kerstein spoke on Better Bank Branches: Improving Site Selection for Financial Institutions at the 2008 Business GIS Summit in Chicago last week. Other presenters were JP Morgan Chase, HSBC Bank, Walgreens and Starbucks. We wrote up some of the lessons learned from the conference, and will be highlighting some of the more interesting feedback in Retail Banking Strategies and in future newsletters.
