Banks Can Pick the Best Marketing Products, Services through CAB Research
Albro, Walt, ABA Bank Marketing
Do you know that BMA members can tap into valuable research tools for finding quality products and services for your bank? The Corporation for American Banking (CAB), a subsidiary of the American Bankers Association, Washington, D.C., endorses programs that will help banks increase income, achieve greater efficiencies and enhance their competitive position.
To earn ABA's endorsement, products must meet stringent quality standards and show that they meet industry needs. Products must also provide efficient, quality service and substantial potential for the bank's improved efficiency, profitability and overall enhancement.
Due diligence reports-are available, at no charge, to ABA and BMA members on all ABA-endorsed programs.
Value-added retail packages, customer relationship management (CRM) tools, and Internet banking/e-commerce solutions are a few of the marketing-related products currently in CAB's portfolio and for which due-diligence reports are available.
Here's how it works:
It starts with the banks. Throughout the year, CAB conducts community-bank focus groups and surveys to gauge priority needs. At the same time, CAB monitors the marketplace for new products and services that will help banks increase income, achieve greater efficiencies and enhance their competitive position.
From this combined intelligence, CAB selects two or three key products a year, on average, that merit closer scrutiny and a potential endorsement. Does the product meet a priority need for a large number of ABA-member banks? Is the product delivered by quality service providers who can work with community banks anywhere in the United States? Can the product he integrated not only with a bank's existing technology but with its strategic plan? These are some of the questions that are asked in the due-diligence review.
Whenever a product area has been identified for review, CAB commissions an independent industry expert to help kick the tires and evaluate "best in class" providers.
CAB hires well-known and highly respected consultants, such as Alex Sheshunoff Management Services and Gomez Advisors among others, for their analytical expertise and objectivity. …