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May 14, 2009Bankers: Win New Deposits, But Will They Walk Out On You?
A 2009 study shows community banks see growth in deposits as a result of new customer acquisition. But these newest customers are twice as likely to leave, taking their deposits with them. Are you using the right tools and processes to keep these new customers?
May 11, 2009Article: Hooray for Community Banks!
A great BizBox article explains the strengths community banks have that will help them solidify their relationship with loyal, profitable customers. SEDONA's take: This underscores the challenge and opportunity that community banks and regional banks face when reaching out to customers.
February 23, 2009Financial Services Institution Positioned to Gain Advantage During the Downturn
Discover Financial Services is doing better in these tough economic times than its higher-flying competitors. Earnings are up compared to competitors' lowered earnings or losses. SEDONA's take: This is an example that community banks, mid-tier banks and credit unions can emulate. With their better ability to lend money, they are in a position to acquire solid, new customers and members who have the potential to remain loyal and profitable for years to come.
February 20, 2009Bad Banking Press a Threat and Opportunity for Community and Regional Banks, Credit Unions
The negative press coverage of banks and bankers brings a risk that community banks and regional banks will be associated with the problems of Wall Street and national banks. SEDONA's take: This is an opportunity to distinguish your institution and its stronger financial and lending position from from such associations.
February 18, 2009Community Banks Still Lending? Oh, Yes!
A Fox News interview of a banker at the ABA National Conference for Community Bankers provides community banks with great publicity. SEDONA's take: This is a perfect example of the message a community bank can use to acquire customers, even - or especially - during a time of economic crisis.
February 12, 2009An Important Message from our CEO
Welcome to our new website, and read about recent corporate milestones.
February 09, 2009Community Banks Positioned to Retain Top Customers Through Lending
An article in BusinessWeek points out that community and mid-tier banks are boosting their lending without federal aid. SEDONA's take: use your stronger lending capabilities to retain your most profitable customers and attract new ones.
February 06, 2009Increase in Savings Rate - Opportunity for Community Banks and Credit Unions
An Article in BusinessWeek talks about how the household savings rate, at 0% in 2005, has risen sharply to 2.9% in Q4 2008. SEDONA's take: Community and mid-tier banks and credit unions have an opportunity to acquire new customers and profit from increasing deposit balances.
February 02, 2009Bank Customer Retention a Good Defensive Strategy in Recessionary Times
An article in CRM magazine makes a great point about making the most of a bad economic situation by using the current forces flowing through the economy rather than fighting them. Specifically, customer retention is the lowest-risk tactic to gain competitive advantage. SEDONA's take: This highlights the importance of customer retention, which is even more crucial to community banks and credit unions because their profitability comes from a small percentage of households.
February 25, 2005A Rose By Any Other Name
Read this article about how CRM systems are fundamentally different from traditional MCIFs in significant ways: access, timeliness, integration, and extensibility.
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