Insights from The Lab

Cross Selling in Banks with Implementation of a Relationship Banker Strategy

A Relationship Banker (sometimes called a “Universal Banker”) wears many hats: Teller, Loan Salesperson, Customer Service Rep. He or she is the front-line person who brings more of the bank to the customer—and more profits by cross selling in the bank than a single-skilled teller. That’s why the Relationship Banking strategy is important and such …

Relationship Banking Model Examples: How to Design the New Role

Our last article described the Relationship Banking Model opportunity available to regional banks across the country. It also listed—and dismantled—many of the perceived barriers to its implementation. In this article, we’re going to give you some juicy real-life details from numerous Relationship Banking model transformations which The Lab helped to design and implement. Customer engagement data and …

Making the Transformation to a Relationship Banking Strategy: The Opportunity and Why it is Important

As banking makes the shift toward digital—and as most banks’ digital offerings seem similar, to customers—the pressure mounts to differentiate your offerings and improve the customer experience… all while cutting costs and increasing revenue. It’s a challenge faced by virtually all banks today. And there seems to be a magic bullet for accomplishing it. It’s …

Four Myths About Bank Productivity

Last year, I stopped in at the retail branch of a large North American bank.

I saw three tellers — and no customers. This misallocation of resources is not unusual. It is a well-intentioned example of one of the four biggest myths and miscalculations prevailing in today’s bank operating practices.

These myths lead to needless downtime, duplicative work and overservice—all of which are equally costly, whether they occur at a bank or on a factory floor…