Pub. 8 2018-2019 Issue 3

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S November • December 2018 17 800 318 4142 • INSURANCE BIA.INSURANCE • WWW.BIA.INSURANCE Proudly endorsed by the Texas, Oklahoma and Colorado Bankers Association Financial Institution Bond Directors and Officers Liability Policy Cyber Liability/Privacy Breach Response Commercial Property, Auto, Worker’s Compensation Lender Placed Insurance Mortgage E&O and Impairment Debit and Credit Card Fraud Insurance Coverage Review Group Health Insurance Insurance for Your Bank Commercial Customers PROVIDING INSURANCE PROTECTION FOR MORE THAN 30 YEARS 2017 BIA Mag ad.qxp_BIA-CO Mag half pg 9/21/17 2:09 PM Page 1 “The one area where I see the biggest opportunity from a service and differentiator perspective is the expectations of the customer that the bank proactively offers the right mix of financial products and services,” says Cook. “Somany consum- ers don’t know what they don’t know, so they won’t be coming into branches and asking for some of the services that will help them, not because they are not interested, but because even the customer likely does not know what’s best for them.” Using solutions like business intelligence and CRM soft- ware, banking employees can provide proactive recommen- dations through a real-time view of the customer’s footprint, including relevant transactions and appointments (e.g., mort- gage inquiries). Further, Personal Financial Management (PFM) tools help customers track their expenses and progress toward goals, empowering them to manage their budgets and plan long-term objectives. And for younger customers, offering financial tips or classes taught by a staff member or other knowledgeable professional is an opportunity to deeply engage them in a way they prefer. The Tip of the Iceberg Understanding your banking customers is the key to ful- filling their wants and needs. So, when consumers voice their opinions, bankers should listen intently. But, we’ve hardly scratched the surface here; to get the full results of our survey, including insight on security, social media and digital payments, download the entire Executive Report: CSI Consumer Poll 2018. n Steve DuPerrieu is vice president of channels and analytics for CSI. In his role, he provides leadership for CSI’s delivery channel strategy, which includes digital banking, payment services, business and analytics software, and branch/retail delivery solu- tions. Steve is also a boardmember for the Association for Financial Technology (AFT). “The one area where I see the biggest opportunity from a service and differentiator perspective is the expectations of the customer that the bank proactively offers the right mix of financial products and services,” says Cook. “So many consumers don’t know what they don’t know, so they won’t be coming into branches and asking for some of the services that will help them, not because they are not interested, but because even the customer likely does not know what’s best for them.”