Published Articles
As a data-driven consulting and marketing firm, Haberfeld has partnered with hundreds of community financial institutions across the nation. Today, we analyze over 15 million data points per month spanning the financial institution landscape.
This uniquely enables us to identify and take advantage of interesting trends, and it’s why our subject matter experts can share current insights, expertise, and data on various challenges and opportunities confronting banks and credit unions today.
Industry Trends
Low-Cost Deposits
Scarcity or Prosperity: The Efficiency Ratio Under Attack
The best way to improve your efficiency ratio is to cut expenses, but what if you’ve already cut expenses to the bone? The more sensible approach is to focus on the other side of the equation by increasing revenue.
Customer Acquisition
Industry Trends
Give Them a Reason to Stay: The Importance of Managing Attrition
Between 2010 and 2022, consumer attrition—consumers leaving or switching financial institutions—was on the decline. While it was easier to retain relationships during this era, it also meant fewer opportunities to earn new accounts.
Customer Acquisition
Industry Trends
What Might Banking Look Like in 2033?
Ten years ago, community banks could succeed by: (1) putting their customers’ needs first; (2) matching loan terms to the life of the assets supporting them; and (3) hiring and training good people. Today’s banking is much more complicated.
Customer Acquisition
Leadership
Low-Cost Deposits
Unlocking Growth: A Practical Guide to Leveraging Your Bank’s Data
In our rapidly evolving world of banking, data has become more crucial than ever to FI growth. What’s more, FIs are sitting on a goldmine of data—often more than they know what to do with.
Customer Acquisition
Low-Cost Deposits
Under Pressure: Cost of Funds Strategies in a Rising Rate Environment
Large institutions are aware of the value of low-cost deposits, which is why they’re offering up to $2,000 to attract new customers with high balances. In essence, they are using their enormous marketing budgets to “buy” new core relationships.
Customer Acquisition
Industry Trends
Low-Cost Deposits
Battle Ready: Cost of Funds Strategy
When rates were at record lows for long periods of time, the true value of low-cost funding may have faded into the background; however, low-cost core deposits continue to be the driver of long-term franchise value.
Industry Trends
Low-Cost Deposits
Driving Low-cost Deposits Through Customer Acquisition
Recent studies confirme what we already knew: Our industry’s #1 priority is growing core deposits, and competition is growing fiercer by the day. To emerge victorious, your institution must grow its core checking relationships.
Customer Acquisition
Leadership
Stacking The Deck: Secrets of High-Performing Banks
Many financial institution executives spend considerable time thinking about strategies to improve overall profitability and create sustainable growth. The focus on best practices is generally aimed at strategies to cut expenses.
Customer Acquisition
Leadership
Leveling the Playing Field
In our ever-changing industry, many community bankers fall into the trap of trying to grow market share by following the lead of their competitors: the “big banks.” Many of them are finding it just doesn’t work.
Customer Acquisition
Industry Trends
The Digital Dynamic: Community Banking in the Modern Age
Going back a couple of years prior to the pandemic, “digital” was the latest catchword in banking. Accelerated by the pandemic, there has not been a single day where we haven’t had the opportunity to read more about the digitization of the industry.
Leadership
Low-Cost Deposits
Unmaking the Myths: Fact Checking Community Banking
Banking, specifically community banking, is essential to the overall health of our country. It serves as the backbone for our financial system and communities, while playing a crucial role in helping individuals, businesses, and governments thrive.
Customer Acquisition
Consultant: Banks Should Grow Through Customer Acquisition
Lincoln-based consultant Sean Payant urged banks to grow their organizations by adding customers and not cutting expenses during his presentation at the Bank Holding Company Association’s Spring Seminar.
Leadership
The Changing Face of Leadership
A leader is someone others want to follow. What this actually looks like, is changing all the time. Leaders who adapt will thrive and give their banks a competitive edge; those who don’t are bound to see increased frustration and decreased results.