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In 2016 "Highway Robbery" Still Exists!
 
It's Just Outrageous !
It’s absolutely criminal  — $140.99 for 250 Business Voucher Checks -- plus shipping! That’s what the “Goliath” check services vendor charges commercial business accounts.
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JimPicPainted  JIM's JOURNAL
      The Banking Business Blog
     Opinions, & Observations on the Business of Banking...  And Other Musings... !

ExecutiveDO PEOPLE STILL USE PAPER CHECKS???

Here are some interesting takeaways from Blair Jeffery’s article – “Will 2017 Ring In the Death of Paper Checks?”

  • A 2016 SunTrust Bank survey of SMBs (middle market and small business executives) indicates that more than 57% of all their payments are through paper-driven processes and checks.
  • Similar results from the AFP 2016 Electronic Payments Survey shows 51% of B2B payments are still made by check, an increase of 1% compared to 2013 levels.
  • Interesting to note -- less than 2% of all businesses use bank offered bill pay solutions.
  • Javelin Research goes a bit further -- QUALITY CLIENTS are CHECK USERS.

What does that mean for the banker? Putting it simply, there is more money to be made – on at least 3 different fronts. Read more about it! You will be surprised. We guarantee it!MPSI Footer

CHANGE IS PAINFUL – absolutely – so much easier to just bump along – same old, same old. After all, why upset the apple cart? Besides, who wants to suffer the rigors of changing stuff?SWITCH

If change is a challenge where you live, this is a great book on the subject by the Heath Brother’s -- “Switch: How to Change Things When Change Is Hard”. We have recommended it to any number of executives. There is even an audio version; listen on the way to work.

The Heaths summarize years of research into a good read that keeps your attention with humor, interesting real world illustrations, and practical strategies. We think you will appreciate it as much as we have and use it as a reference work.

While we are at it, here is a really simple change for you -- the check:r. You increase fee income, eliminate the outsourcing money drain, build your asset ratios, and bring a quality of service with your most important check user clientele that they will easily understand and appreciate. We don’t know why no one thought of this several years ago.

Let us know your thoughts.

OVER THE TOP

OverTheTopCertainly you’ve heard of Zig Zigler – one of the best known and well-loved motivational speaker/authors of our day. Zig is no longer with us, but his books, recordings, and videos live on. If you’ve never read his Over the Top book you’re missing some really good stuff. There’s no other way to say it – it’s OVER THE TOP in good old common horse sense about… “How to get more of the things money can buy and ALL of the things money can’t buy”. If your objective is a “C average” – don’t bother, forget it; this book is NOT for you. On the other hand, if your desire is to exceed expectations – family, relationships, customers, team spirit – then don’t miss this one. Every one of your staff should read it – you included.

WHY DOESN'T SOMEONE TELL ME THESE THINGS???

Frustrated“I never knew!” Well, you can’t say that any longer because here it is. Slowly but surely bankers are beginning to discover that some really disruptive customer service innovations are now available -- and so, so simple! First of all, they’re disruptive to the competition. You provide a tangible service that high deposit time-is-money clients appreciate.  Savvy marketing people can build a whole marketing campaign with this. And, it’s positively disruptive to the bottom line -- more fee income profit! Stockholders should like that, don't you think? It doesn’t have to be “same old same old” any more – not these days. READ MORE

BRAN MUFFINS FOR FINANCIAL INSTITUTION REGULATORS - THAT'S THE SECRET

BranMuffinsSmallRegulators – you’ve just got to love ‘em, right? For sure – but, they definitely need more bran in their diet! Do we need to spell it out? I didn’t think so. But, it’s the only explanation we’ve come up with for some of their wacko decisions, especially when it comes to acceptable asset ratios. You’ve heard the war stories; maybe even been one of them. Community FIs get smacked while the Too Big to JAIL (oops, Too Big to FAIL) guys get away with murder. We can’t fix that.

But, as for muffins here are some dandy bran muffin recipes – plain, blueberry, banana, whatever -- that will do the trick. Don’t risk a short cut with store bought – not nearly enough fiber for the average regulator. And, mind your manners – no giggles when you serve them up. Regulators are pretty thin-skinned, don’t you know. Okay, okay, enough with the jocularity.

As noted earlier, asset ratio is a serious matter and seems to be the recurring nut to crack. Oddly enough, many FIs are unaware or fail to consider technology that has been available for years while sticking with operational methods from the early 1900s. Maybe you have guessed by now; we are speaking of outrageously EXPENSIVE contracted out-sourced check services. Simply stated, it is an unnecessary luxury!

Our check:r system is the solution. All former pass through revenue comes back to your bottom line (where it belongs) versus lining the check service provider’s pockets. And, the check:r is so simple you will scratch your head, “Why didn’t someone figure this out years ago?” It may not clear all the check marks off the regulator’s clipboard but it’s a start. There is an added benefit; you won’t have to sentence some obliging staffer (or your wife) to hours in a hot kitchen baking muffins.


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GlassOfWater
HEAVY WATER
A psychologist walked around a room while teaching stress management to an audience. As she raised a glass of water, everyone expected they'd be asked the "half empty or half full" question. Instead, with a smile on her face, she inquired: "How heavy is this glass of water?"
Answers called out ranged from 8 oz. to 20 oz.
She replied, "The absolute weight doesn't matter. It depends on how long I hold it. If I hold it for a minute, it's not a problem. If I hold it for an hour, I'll have an ache in my arm. If I hold it for a day, my arm will feel numb and paralyzed. In each case, the weight of the glass doesn't change, but the longer I hold it, the heavier it becomes."
She continued, "The stresses and worries in life are like that glass of water. Think about them for a while and nothing happens. Think about them a bit longer and they begin to hurt. And if you think about them all day long, you will feel paralyzed – incapable of doing anything."
Remember to put the glass down.
(Courtesy of Jimmy Harmon)

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