Fly on the Wall

Overdraft Action Brings Positive Reaction

It's no secret that your financial institution's earnings are at risk. The overdraft programs that generate a large portion of a bank's income are under attack. (See related New York Times story here.)

Although most legislative bills are initially written in the harshest terms possible, then amended to a softer stance, it is BSG Financial's belief that overdraft programs as we know them will be significantly changed.

In fact, much of the overdraft income you enjoy today may be legislated away. And with the proposed consumer warnings and options, many of your customers may opt out of the overdraft program. As a result, most banks will simply start returning checks again.

But for every action, there is a reaction.

If this happens and more overdraft items are returned, the number of returned deposit items for your business customers will increase..along with the headaches of collecting these funds. As such, BSG Financial's Re$ubmitIt electronic check recovery program will be a key solution for your commercial customers AND your bank.

Re$ubmitIt helps business customers collect more NSF checks with less work. It helps your bank realize much-needed income to offset the anticipated lost OD revenue. It is simple to implement. It is completely compliant.

Strategically, there is no better time to consider the Re$ubmitIt program than right now.

Learn more here.

Contact BSG Financial today and start earning immediate income. We're implementing banks daily. Don't be at the back of the line!

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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!

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.

Set Yourself Free!

"If you want to have a better performance than the crowd,
you must do things differently from the crowd."
- John Templeton

We were recently reminded of this quote from investor and mutual fund pioneer John Templeton by a Florida banker, who was commenting on how he will tackle challenges in 2009. We couldn’t agree more with his enterprising and bold attitude.

Results from a study at the University of Leeds show that it takes a minority of just five per cent to influence a crowd’s direction – and that the other 95 per cent follow without realizing it.

Now is not the time to settle for “sheep mentality.”

According to Wikipedia:

• Sheep feel safe in a large herd; they don’t like to be alone.
• Sheep have a strong lead-follow tendency, and a leader, as often as not, is simply the first sheep to move.
• A sheep exhibits quickness to flee and panic in the face of stress.

If you see yourself or your company in these attributes, break free from the flock!

Try new approaches. Take risks. Set the standard. And see an economic downturn as an opportunity to strengthen your organization, not to run and hide.

How will your institution stand out in the crowd? We’d love to know!