I love to think about ways that banks could be better.  It’s especially fun right now, while banks are folding left and right, and taking on government money. Small disclosure here, as I spent the first part of my career learning at a rather large bank, and took away invaluable experience.  I loved it.  BUT, don’t love the parts of banking that scream opportunity.

Here’s 3 things that my bank (and I’ll keep it annonomous) can and should do to make customer’s more happy and attract more of them:

1.  Build more intelligence into online banking. I’ve talked about this before.  It’s just a no brainer to me to use the online banking platform as your primary marketing/face of your organization.  People going to branches all the time is a thing of the past. Invest capital accordingly.

2. Start streamlining loan processes.  I should be able to do most things though the site above that gets me 95% of the way towards my loan needs before I even talk to anyone.  Its not that hard.

3.  Give me a 1 stop shop.  I know this is difficult, but take one example.  Most banks have investment arms that are just so out of tune with reality, that I can’t believe people even use them.  It’s sick even thinking about paying $29.99 a trade or higher.  Especially with how easy it is to move money electronically.  So if you can’t compete, what’s the point?

Simple.  Technology is your facilitator on all fronts.

Opportunity is absolutely all over the place right now in this business as customers are willing and READY to take their money elsewhere.