By Ron Daly

Newton’s Third Law says that for every action, there’s an equal and opposite reaction. But while he’s talking physics, I’m thinking customer retention. All good things seem to have a bad side, and for banks, stickiness is near the top of the list.

What’s sticky?

So, ask yourself if your stickiness is the good kind or bad kind: Do your customers perceive your bank as a sticky bun, offering a satisfying experience that leaves them with a good taste? Or maybe it’s more like flypaper, where customers put up with sub-par service or outdated delivery systems because they feel trapped?

Financial institutions […]

Ron Daly, President/CEO
Virtual StrongBox, Inc.

Every day, events happen that can turn lives upside down. Maybe it’s a wildfire in California, forcing people to quickly flee their homes. Maybe a medical emergency occurs when someone is out of town, away from their regular doctors. Or perhaps a water pipe breaks, damaging mortgage documents, photos or birth certificates.

While no one can prevent every traumatic event, your financial institution can make it easier for customers to meet life’s challenges. You can help customers prepare for emergencies by providing them with safe-deposit boxes. No, not physical boxes, like the “olden” days; instead offer a digital […]

There are some categories where no company wants a first-place ranking: number of defective product recalls, number of malpractice suits and largest  number of records exposed in a data breach, to name a few. (That last title, most  records stolen in 2019 (106 million), went to Capital One, a The McLean, Va.-based financial services giant .)

More than 137 million records were exposed in the 10 biggest data breaches in 2019, according to information compiled by the Identity Theft Resource Center and the U.S. Department of Health and Human Services. Six of the 10 largest breaches impacted medical or healthcare organizations, with two […]