Celent Banking Newsletter, July 2010
3 July 2010
New York, NY, USA
Analyst's Point of View
The old adage "no rest for the weary" comes to mind as President Obama signs the Restoring American Financial Stability Act. At a minimum, the regulations will mean tons of work for banks -- in addition to the bevy of challenges already on banks' collective plates. No rest for the weary indeed
First, banks need to understand the implications of the legislation. Earlier this week, Zil Bareisisauthored a new client briefing, An Update on the US Debit Interchange Regulation, discussing the likely developments and impact of the new debit card interchange regulation on the US cards industry.
Even before this most recent legislation, the aggregate impact of the Reg. E changes, the Credit Card act of 2009 and the financial crisis elevated the importance of cost reduction -- particularly in the branch channel. A recent Celent report, Cash Automation in Branch Banking: Cut Costs while Improving Sales and Service, examines the business case for teller cash recycling and dispensing and details the solution landscape for branch cash automation solutions. In a future report, Branch Banking in a Multichannel World, Celent will present the results of a survey conducted in July among several hundred North American financial institutions. The survey points to continued branch channel evolution designed to reduce costs without compromising sales and service delivery.
We look forward to being of service to you in your increasingly complex and challenging technology, business' and regulatory climate.
Chart of the Month
From the Celent report Cash Automation in Branch Banking: Cut Costs while Improving Sales and Service
Celent Published Reports
Research in Progress
- Personal Financial Management: The Time Is Now
- Core Banking Solutions for Credit Unions
Webinar: Lessons from the Mobile Payments Leader: What the World Can Learn from the Japanese Market
Webinar: Cutting Cost to the Core
For more about Celent speaking engagements, see our Events page.