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Letter from the Chairmen

"Margins are pinched, loan demand has yet to recover, consumers and regulators are pushing back on all kinds of fees – in some ways, it seems as though nothing has changed over the last 12 months." Read more...

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Thursday, March 14, 2013

3:00 PM - 3:45 PM
Track: Innovations in Banking View Track


Art Smith, Executive Vice President, Chief Marketing Officer, THE BANK OF TOKYO-MITSUBISHI UFJ,
Stephen Beck, Founder & Managing Partner, CG42

While the invention of the ATM, online banking and mobile wallets have radically transformed the banking industry over the past 20 years - there is one thing that continues to set banks back in time: nickeling and diming customers with fees.  Whether its overdraft, minimum balance, monthly maintenance or ATM withdrawal fees – consumers continue to be hit with a variety of painstaking charges.  In fact, a recent survey by CG42 found that 71 percent of consumers believe banks only care about their own business and not the needs of customers.  This session will share insights on how and why Union Bank completely changed the way it interacted with customers.  By introducing customized banking programs the bank not only lowered the vulnerability of its brand, but raised the bar on innovation and customer service in the industry.

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