Fly on the Wall

Review of Overdraft Program Could Uncover "Found Money"

It's no secret that most financial institutions are looking for new ways to boost income. But before you unleash the new product development hounds, don't overlook the tried and true programs--like overdraft protection--you already have in place. With a few simple tweaks to this program, you could potentially double your income.

BSG Financial offers a COMPLIMENTARY, no-obligation Overdraft Review to determine if your program could be earning more income and better serving account holders. The results of Review may confirm your overdraft program is working to its fullest potential. Or we may uncover "found income." Either way, you have nothing to lose.

To begin, answer a few brief questions. BSG Financial will report any areas of opportunity we identify, and suggest tactical program modifications, if applicable. You can implement any of these modifications on your own, with no obligation whatsoever to BSG Financial, or you may wish to enlist our services.

Start the Review here. It only takes a few minutes, but could reap significant rewards!

Easy Way Banks Can Increase Income, Service

Thanks to the South Carolina Bankers Association (SCBA) for publishing our article, "Capitalize on Check Processing Profit-Making Opportunity," in the Summer 2009 issue of the association's magazine, Palmetto Banker.

Read article here.

The SCBA endorses BSG Financial's Re$ubmitIt electronic check recovery service for business customers.

Businesses love Re$ubmitIt because it takes the work of collections out of their hands, AND gives them more of the money they're owed.

Does your bank need more income?

Never Stop Learning

Learning is not compulsory... neither is survival.
W. Edwards Deming (1900 - 1993)

We're all feeling the pinch of tighter budgets these days; however, now is not the time to eliminate professional development. On the contrary, it is exactly the right time to share ideas, tactics and best practices, and learn new ways of thinking.

While the opportunities for learning are still abundant, the times require that you choose those that give you the most “take-away” information for your dollar.

One such opportunity is the Financial Revenue Strategy Symposium, May 18-21, in Dallas Texas, which focuses on developing new sources of revenue; implementing tactics that keep top performers on top; and executing a plan to bring in extra income. The keynote speaker is Nessa Feddis, Senior Federal Counsel of the American Banker’s Association.

Sessions include:

Generating Revenue During an Economic Standstill
Radar On – Antenna Up… Fulfilling Customers’ Unexpressed Wishes
Revenue and Regulation:  Outlook on the 111th Congress
Cashing in with Merchant-Based Income

The conference features all-inclusive pricing, which includes conference fees, all meals, 3 nights at The Ritz-Carlton, Dallas, and airport transfers.

For more information and to register for the FRSS, go here.

Tell us the professional development opportunities you will attend.

Out and About

The "fly" periodically buzzes to industry tradeshows to make a presentation to conference attendees or learn more about industry trends and products.

The most recent conference we attended was the Wisconsin Bankers Association Bank Executives Conference, February 9-11. Much of the discussion there was, as expected, about the state of the economy and the banking industry. Despite the doom and gloom we hear every day, over 200 attendees partcipated in the conference and all of the sponsored booths were full to capacity.

A hopeful sign.

One new product that caught our eye is FirstBranch, a lead-generating, online marketing system. We have no affiliation with this program, but think it is intriguing, and want to share what we found. The service claims to help banks generate accounts (an average of 24 online applications per month) by utilizing the Internet banking environment. If you want to find out more about this offering, click here.

One of the highlights of participating in trade shows and conferences is the drawing for prizes at the end of the show. BSG Financial usually gives away a personalized Louisville Slugger regulation-size baseball bat or a bottle of legendary Maker's Mark bourbon (we are based in Louisville, Ky. after all!). One recent Slugger recipient requested the bat be personalized for his newborn son. He sent us a picture and we knew we couldn't keep it to ourselves:

Thanks, Dad! Monty Lafitte III with his personalized Louisville Slugger.

(son of Montague Lafitte, Private Banking Division, SCB&T, Columbia, SC)
 

 

 

Is your institution planning to participate in trade shows or conferences in 2009? If so, let us know what you learn!