Celent Banking Newsletter, July 2011
Analyst's Point of View
The summer is upon us, and many of you are probably looking forward to (or perhaps already enjoying!) a vacation. My Banking team colleagues and I will also be taking some time off over the next month or so.
One of the major highlights in our Events calendar is Celent's Insight & Innovation Day, which we had on June 16 in Atlanta this year. Many thanks to all who attended; we hope you enjoyed the panel discussions and presentations, as well as the networking opportunities. If you couldn't join us, please visit our Banking blog for our impressions of the day http://bankingblog.celent.com/?p=2278. We hope to see you all next year.
In our April newsletter I mentioned that I would be sharpening my focus on retail payments - cards, various e-commerce payment methods, and of course mobile payments. Good news to report: wholesale payments also have a dedicated analyst, as we welcomed Gareth Lodge to the Banking team.
I also mentioned a benchmarking study on credit card retention practices. I am pleased to announce that the study results have been published, and they make interesting reading. The results show considerable diversity in retention operational practices and performance results, with retention rates ranging from 10% to 50%. Also, while all issuers manage "reactive retention," they deploy different models. One of the biggest improvement opportunities for most issuers is to ensure that "outlier" retention (e.g., written and "out-of-hours" requests for issuers using an inbound retention model) is actively managed.
Meanwhile, here's hoping that you actively manage to have an enjoyable summer.
Senior Analyst, London
Chart of the Month
From the Celent report Credit Card Customer Retention: Benchmarking Study Results.
Celent Published Reports
- Outsourcing Trends in the Chinese Banking Industry
- Financial Inclusion Across the World: Analysis of Various Business Models
- Core Banking Solutions for Small Credit Unions
- Core Banking Solutions for Large Credit Unions
- Credit Card Customer Retention: Benchmarking Study Results
- Celent Model Bank 2011: Case Studies of Effective Technology Usage in Banking
- Top Trends in Retail Online Banking
- US Mortgage Loan Origination Market: Game Change
Research in Progress
- Evaluating the Vendors of BPO
- Best Practices in Teller Capture
- Making Sense of Mobile Financial Services