As income from overdraft fees and certain credit card fees decreases due to recent regulatory changes, financial institutions continue to seek ways to offset the decline and generate incremental revenue. Increasing consumer demand for security services, particularly those related to identity fraud, is opening the door to a new marketplace that can benefit both financial institutions and their account holders.download pdf
Going back to the 1980s, net interest margins (NIMs) typically hover between 3-4 percent. So what, you say? Well, the lesson to be learned here is that even as the...
The requirements of the Community Reinvestment Act (CRA) make acquiring more customers in the low-to-moderate income segment an even higher priority for financial institutions. With a mandate to invest in banking services in underserved communities, it makes sense to consider cost-effective acquisition solutions that let you reach these unbanked and under-banked consumers, while also helping meet your CRA compliance goals.
Steve Nikitas explains why financial institutions trying to obtain checking accounts are best served promoting free checking products or accounts that allow account holders to avoid monthly service fees.