Blog

5 Funding Strategies That Do Not Focus on Rate (+ Podcast)

Posted by Michele Rehm, Marketing Manager on Jul 27, 2017 9:07:24 AM

As interest rates rise, it is increasingly important to understand the economic factors involved with funding financial institutions. In a recent podcast called, "Enhancing Deposit Pricing in Today's Turbulent Financial Waters," Neil Stanley, CEO & Founder of The CorePoint (and presenter of BSG Financial Group's educational webinar, "Rethinking CD Sales in a Rising Fee Environment") shares his views on the future of deposit gathering as financial institutions feel more pressure to find funding.

According to Stanley, running a rate promotion is the thing that every banker thinks they have in their hip pocket, pulling it out if they need to grow funding. Stanley points out, that the problem with this strategy is that rate-induced growth often poisons the net interest margin of the bank. 

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Topics: CDs, Deposit Accounts, Retail Banking

The devil is in the details: Overdraft program charge-offs

Posted by Jeff Harper, President, BSG Financial Group on Jul 10, 2017 9:51:21 AM

It has been said that the “devil is in the details,” meaning paying attention to small things is important and can lead to positive rewards. Although this idiom applies to many facets of business and life, we find it particularly pertinent to the performance of your institution’s discretionary overdraft program.

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Lending at credit unions continues to lag, but the right technology can help

Posted by Michele Rehm, Marketing Manager on Jun 13, 2017 7:53:31 AM

This article was originally published on CUInsight.com.

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Topics: Digital Lending, Small Business Accounts, Retail Banking, Consumer Loans

Ease into Social Media with an Automated Solution

Posted by Michele Rehm, Marketing Manager on Jun 6, 2017 3:19:17 PM

This article was originally published on CBInsight.com and CUInsight.com.

BSG Financial Group recently hosted an educational webinar entitled, “Maximizing Social Media for Community Financial Institutions.” The webinar provided instruction on social media compliance, shared tips for posting to various social networks and highlighted new developments in social media strategies. Response to the session was overwhelming, indicating that the information provided would be valuable to others who were not able to attend.

Below you will find a few questions that were asked and the answers from our presenter, Sara Harris of Insight CRM Solutions. Many of the questions we received were especially relevant to community institutions that do not have a formal social media strategy. If you would like to view the entire webinar, including the Q & A portion, go here.

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Topics: Social Media Compliance, Webinar, Social IQ

Monitoring Consumer Review Sites is Key to Managing Financial Institution's Reputation

Posted by Michele Rehm, Marketing Manager on May 15, 2017 3:16:16 PM

Thank you to Sara Harris, Administrative Director for Insight CRM Solutions, for submitting this article for our blog.


In the not so distant past, if you had a bad experience at the bank or credit union, you might go home and tell your spouse or your neighbor. If you were really upset, perhaps you wrote a letter of complaint, but that might be the extent of it. Likewise, if you loved a certain business or product, you may have recommended it to your friends and family.

We know, for fact, that personal recommendations influence buying decisions.

But today, we live in a digital world, and these gripes or recommendations take place across the web, instantaneously. Online reviews are increasingly important, both to consumers and the businesses subject to their review. Monitoring review sites should be an integral part of your institution’s social media and reputation management strategy.

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Topics: Social Media Compliance, Social Media, Consumer Review Sites

Dive into digital with an end-to-end lending platform

Posted by Michele Rehm, Marketing Manager on May 3, 2017 9:15:37 AM

This article originally appeared on CBInsight.com, May 2, 2017.

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Topics: Fee Income, Technology, Digital Lending, Digital Lending Underwriting

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 CBInsight.com, 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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What Has Your Overdraft Provider Done for You Lately?

Posted by Jeff Harper, President, BSG Financial Group on Feb 27, 2017 11:46:51 AM

Webinar Will Provide a 'Road Map' for Financial Institutions to Assess the Performance of Their Overdraft Service Provider Using Key Metrics 

Over the past 20 years most financial institutions have partnered with a third-party overdraft provider. However, much has changed in those twenty years, and far too many programs are running on ‘auto-pilot.'

There are many opportunities to improve compliance, income and service with regard to overdraft management. If your overdraft management provider hasn’t communicated these to you or enhanced its software, then you have to ask yourself, ‘What has my provider done for me lately?'

BSG Financial Group will host a webinar called, "What Has Your Overdraft Provider Done for You Lately?" on Thursday, March 9 at 2 pm EST that will help you answer that question.

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Topics: Webinar, Overdraft Provider, Overdraft Management