Michele Rehm, Marketing Manager

Recent Posts

The Case for Customer Service After the Sale: A Success Story

Posted by Michele Rehm, Marketing Manager on Apr 12, 2017 7:24:22 PM

Today the customer is king. 

No matter what product or service you market, disappearing after the sale hurts customer retention and future sales, as news of your poor service spreads. The experts say it’s easier to keep a client than to find a new one, and we couldn’t agree more. Successful companies act as a ‘partner’, not merely a vendor, to their clients.

But how do you know you are succeeding?

One tried and true way is to proactively ask for feedback from your customers in order to gauge your performance. Oftentimes it is the simplest surveys that elicit the most helpful responses, as we found out after we re-vamped the way our clients rate us after a service request. Now in less than 30 seconds, customers answer one simple question in an online survey (which they receive upon completion of support requests) and submit supplemental comments or suggestions, if necessary. 

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Topics: Courtesy Overdraft, Service

Use the ‘Goldilocks Strategy' When Setting Overdraft Limits

Posted by Michele Rehm, Marketing Manager on Mar 30, 2017 1:46:32 PM

Originally published on, March 29, 2017

It is probably safe to assume that every reader of this article recalls from their youth the story of Goldilocks and the Three Bears.

Let’s forget for a moment that Goldilocks was a trespasser who rudely helped herself to the bears’ food and furniture and, instead, concentrate on the upside of her decision-making abilities. For all of her faults, Goldilocks knew how to make a decision that was exactly right for her (“Not too cold, not too hot… but, just right,” etc.). 

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Published Article: The Financial and Service Opportunities of Digital Lending Technology

Posted by Michele Rehm, Marketing Manager on Mar 24, 2017 11:06:14 AM

Article originally published by Financial Managers Society, March 10, 2017

By Jeffrey Harper, President, BSG Financial Group

According to recent studies by both Goldman Sachs and Ernst & Young, financial institutions stand to earn $30 billion in the next eight years by utilizing digital lending technology, which allows banks and credit unions to offer loans – for example, small business loans under $100,000 and consumer loans under $30,000 – online and in minutes from their website or via mobile phone. When contemplating this revenue opportunity, compare it to two decades ago, when NSF revenue tripled from $12 billion to $34 billion and interchange grew $6 billion to $18 billion between 2000 and 2010.

Online lenders like LendingClub and Prosper have capitalized on this market opportunity and have grown handsomely by offering the convenience of applying for loans digitally and getting funds quickly. Their focus on automating the lending process has helped them:

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Watch the Video: Digital Lending in Action

Posted by Michele Rehm, Marketing Manager on Feb 20, 2017 1:55:19 PM

What would your account holders' online lending experience look like if your institution offered it? View an excerpt of our most recent Educational Webinar, "The Digital Lending Opportunity for Community Financial Institutions," in which digital lending expert Bob Giltner demonstrates the online loan application process.

In this short video, you will see how two banks allow account holders to easily apply for loans from their own websites and get approval.... all in under three minutes! The banks incorporate digital lending technology using their own branding, underwriting parameters and risk tolerances to profitably offer account holders small business loans under $100,000 and consumer loans under $30,000.

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Topics: Digital Lending, Online Lending

Digital Lending: The Next Big Revenue Opportunity for Financial Institutions

Posted by Michele Rehm, Marketing Manager on Feb 2, 2017 11:35:24 AM

Financial institutions could earn $30 Billion by 2025 thanks to digital lending technology, according to studies by Goldman Sachs and the EY study on the rapidly growing digital lending market. 

We like to compare these impressive income projections to revenues of two decades ago when NSF and interchange income tripled from $12 billion to $34 billion and from $6 billion to $18 billion, respectively (see chart below). 

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ICYMI: Our Top Blog Posts of 2016

Posted by Michele Rehm, Marketing Manager on Dec 27, 2016 10:19:22 AM

cms-265125_1920.jpgIn case you missed out... listed below are BSG Financial Group's five most popular blog posts of 2016. Loads of people have already read them and we wanted to make sure you did too! Take a look to get "in the know" and feel free to pass them along!

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Topics: Overdraft, News, Fee Income

CFPB Proposed Rules Have No Effect On Digital Lending or Overdrafts

Posted by Michele Rehm, Marketing Manager on Sep 14, 2016 12:35:06 PM

On Friday, July 22, 2016, the Consumer Financial Protection Bureau (CFPB) published proposed rules and a request for public comment to establish a new consumer regulation that would regulate payday loans, vehicle title loans, and certain high-cost installment loans (“Covered Loans”).

The Bureau is particularly concerned that some lenders of Covered Loans fail to assess the consumer’s ability to repay the loan; it is also concerned with the practice of withdrawing loan payments directly from the consumer’s accounts.

The CFPB also stated that certain types of consumer loans will be excluded from coverage under the new regulation, namely Overdraft Services and Lines of Credit

For financial institutions seeking reliable and safe sources of additional fee income, this news is welcome indeed.

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Topics: Overdraft, CFPB, Digital Lending

BSG Financial Group to Present Webinar on How to Optimize an Overdraft Privilege Program for Better Service and Income

Posted by Michele Rehm, Marketing Manager on Sep 1, 2016 2:35:42 PM

BSG Financial Group will present a webinar entitled, "The 5Ds of an Optimized Overdraft Management Program," on Thursday, September 15 at 2:00 pm EST.

The FREE webinar, hosted by CPA firm Porter Keadle Moore, will outline the essential elements of a modern overdraft privilege program that provides world-class service to account holders while managing risk.

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Digital Lending Q&A: Part Two

Posted by Michele Rehm, Marketing Manager on Jul 27, 2016 4:02:33 PM

This is the second installment of our blog series, Digital Lending Q&A (read Part One here), featuring questions and answers from our popular webinar, Digital Lending for Financial Institutions. 

If you have questions of your own regarding Digital Lending, feel free to submit them in the Comments box below and we will answer them right away.

Is there any human intervention prior to funding the loan?

The level of human intervention in the loan approval process can be defined by your institution. 

The MinuteLender technology can automatically approve individuals and small businesses for loans based on your institution's underwriting and risk tolerances with a matrix. Alternatively, your institution can employ processes after the submission of an application to add steps for final approval. For example, some community institutions like to personally review the loan accounts before completing and funding the loan. The MinuteLender platform provides the flexibility to be tailored to your institution's objectives. 

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Topics: Digital Lending, Digital Lending Underwriting

Digital Lending Q&A: Part One

Posted by Michele Rehm, Marketing Manager on Jul 6, 2016 11:11:14 AM

BSG Financial Group recently conducted an educational webinar called Digital Lending for Financial Institutions. It was our most popular session to-date, so we thought it would be helpful to share some of the questions attendees asked as well as our answers. 

We will feature several more questions from this popular webinar in a series of blog posts to follow. If you have questions of your own regarding Digital Lending, feel free to submit them in the Comments box at the end of this post and we will answer them right away.

What loss ratios can we expect with online lending?

We often get this question, and the answer is: if you’re using the same criteria for online lending as you do in-branch, the losses are going to be the same. The MinuteLendersystem for business and individuals provides the loan delivery platform, but it uses your institution’s guidelines for underwriting rules.

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Topics: Digital Lending, Cloud Computing