What financial institutions can learn from retail

first_imgThe financial message boards, association groups, and social media have been in a buzz as of late about this topic of ‘Branch Transformation’. This phrase refers to the idea of transforming the once dominant banking channel of choice to better compliment its increasingly preferred counterparts, online and mobile, by providing a more retail-like experience with less of a physical footprint. To summarize – do more with less.In addition, financial institutions are being forced to look not only at the banking center, but their branch philosophy as well. Historically, banking centers have focused on the transaction. Whether it’s been opening accounts, withdrawals, or deposits, the majority of the day was geared toward processing transactions. Today, we’re seeing more of those everyday transactions moving to online and mobile while bank traffic decreases. To combat this trend, financial institutions are looking for fresh, new ideas on what to do with these banking centers. Some have already found that they don’t have to look too far for the answer, they just have to look at how retail is battling a lot of the same issues.Like the financial space, retail has been contending against decreasing foot traffic since shopping online became popular. It struggled to find that “happy medium” and found itself forced to embrace the transition in consumer buyer behavior. Now, when you walk into a retail location, the brand urges you to ‘check in’ online, post and share comments about your experience, and even turn to their websites if you’re unable to locate exactly what you’re looking for. Some big box retailers such as Best Buy have found success with opening micro-sized locations in areas such as shopping malls in order to capitalize on the high foot traffic volume. Plus, retail employees are expected to be experts on all the products they offer. They’ve moved beyond just the transaction to create a more consultative, educational experience.Financial Institutions are picking up on these retail trends. They’ve begun downsizing the physical footprint of the branch and are moving towards a more sales and service branch philosophy. Employees should be expected to be knowledgeable about all products and services, or at least direct branch visitors to a specialized agent. Technology is becoming a major focus as banking centers are looking to bring the online and physical world together to provide visitors with the banking experience of their choice. Video Teller Machines are being implemented in order to keep overhead at a minimum while still providing all services expected by branch visitors. Digital signage and touch-screen kiosks are being used to help branch employees promote and sell products and services while adding an extra ‘wow’ factor. Then, to bring the technology full circle, financial institutions are encouraging their customers to turn to social media and tell people about their banking experience.As with retail, consumers are not turning away from the branch – They’re just expecting more from it. This is probably the most exciting period of transition the financial industry has seen in many years. No one ever used to think going to the branch was an “experience”—it was just something you had to do. Now, it’s going to define your institution and be what separates you from everyone else. 26SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Matt Deaton Matt Deaton is the Marketing Manager at Codigo, a Louisville. KY-based technology company that develops retail engagement tools such as digital signage, interactive kiosks, and on-hold messaging. Codigo has served … Web: www.gocodigo.com Detailslast_img read more

Truax prepares for second professional bout in event dubbed ‘The Brawl in St. Paul’

first_imgTruax prepares for second professional bout in event dubbed ‘The Brawl in St. Paul’The University alum and Osseo native will square off against fellow Minnesotan Nick Whitling Friday at Roy Wilkins. Tyler RushmeyerJune 13, 2007Jump to CommentsShare on FacebookShare on TwitterShare via EmailPrintUniversity alum Caleb Truax wasted no time in turning his professional boxing debut into his first professional win in April at the Target Center.In dominative fashion, Truax (1-0) knocked his opponent to the mat three times before the referee called the bout in the second round.It was an impressive debut for the Osseo native, and Friday night he will look to follow it up in what promoters are billing The Brawl in St. Paul: A Father’s Day Special at Roy Wilkins Auditorium.His opponent will be Bemidji native Nick Whitling (0-4).Truax said he is better prepared both physically and mentally for Friday night’s match.“I’ve been training real hard here for the last five weeks or so,” he said. “I really took what I learned from my last fight and made some adjustments.”Truax’s training regimen has included sparring with Minneapolis native Jon Schmidt (2-0) and St. Paul native Matt “The Predator” Vanda (36-3), which he said has helped him pick up a variety of tricks and techniques.Ron Lyke, Truax’s manager and trainer, said the opportunity to work against older and more experienced fighters is valuable to Truax’s development.“He’s been holding his own against those guys,” he said. “He’s looking real good coming into this fight.”Tony Grygelko, CEO of Seconds Out Promotions, who is putting on Friday night’s matches, said Truax is one of the best athletes and hardest workers he has ever seen.“I think he can really make noise at the national level,” he said. “Everyone in Minnesota and throughout the Midwest thinks this kid can go a long way.” Truax’s opponent, Whitling, comes into the match with an unfavorable record due to his battles with some tough opponents.His last fight occurred on St. Patrick’s Day in Hinckley, where he dropped a tight decision to an undefeated Dave Peterson (8-0).Lyke said Whitling will make Truax work hard for any type of victory as he brings to the table a whole different type of fighter than Truax’s last opponent, Ray Walker.“He’s a real tough guy who’s lost to some real good fighters,” he said. “But he’ll be coming to fight Ö no ducking or hiding.”It was the ducking and hiding in Truax’s last match that frustrated him, along with Lyke.Truax said Friday night’s bout will hopefully give him a chance to display more of his skills.“I want to go out there and show some more combos, things I couldn’t show last time,” he said. “Hopefully I will get a few good rounds in.”Friday night’s match, a potential sellout that will feature some of Minnesota’s best fighters, will give Truax another opportunity to do battle in front of a hometown crowd.It’s something that he is looking forward to.“Last time the crowd response was amazing,” he said. “I’m looking to deliver the same performance to get the same response Friday.”last_img read more

All employees of Plava Laguna and Valamar Riviere had their basic salary increased by 3.5 percent

first_imgRELATED NEWS:DO YOU KNOW THE STORY OF MARY?VALAMAR INVESTS 11 MILLION HRK IN MODERNIZATION OF LAUNDRY IN POREČ At the third round of collective bargaining between representatives of the Croatian Trade Union of Tourism and Services (STUH) and representatives of the Management Board of Valamar Riviera dd from Poreč held on April 4, 2017, STUH managed to increase the basic salary of all employees by as much as 3.5 percent.The salary increase starts on June 1 this year in the amount of 1 1/2 percent, while the remaining 2 percent starts on December 1 this year. In addition to this increase, the tariff annex to the Collective Agreement has been changed, whereby the surplus occupations (cooks, waiters, cleaners značajno) are significantly raised coefficients, so no one will be able to have a salary less than 4 thousand kuna net, ie it is a salary increase of 2 1 / 2 percent.Thus, this year in Valamar, the total wage bill will be increased by 6 percent in gross amount.At the collective negotiations between the representatives of the trade union and the company’s management, the employees of Plava laguna dd were provided with an increase in the basic salary, which will be applied as early as 1 May. As they point out in the Trade Union of Tourism and Services of Croatia (STUH), an increase in the basic salary by 3 percent has been negotiated, so now it will amount to HRK 3.820,00.The employer explained to the Trade Union the intention to harmonize the salaries and other material rights of the employees of Istraturist dd Umag with the contracted rights of the employees of Plava laguna dd Poreč, given that Istraturist dd Umag merges with Plava laguna. Alignment began in 2016 and is likely to end during 2018. Due to the large difference in workers’ rights, the union accepted the employer’s proposal that the application and payment of the increased basic salary start on May 1, 2017.The salary increase applies to all Blue Lagoon workers, and better material conditions are prepared for the seasonal workers (provision of three hot meals, increase in capacity as well as accommodation standards).last_img read more

Lucius: From design to first oil (Video)

first_imgAnadarko, one of the largest independent leaseholders and producers in the deepwater Gulf of Mexico, has launched a video, or better yet, a movie, showing a long, but interesting process of bringing its Lucius development into production.The film presents the project from its early beginnings and design selection, through construction of the Lucius production platform, to its first oil in the U.S. Gulf of Mexico.Final Investment Decision (FID) for the project was made in December 2011.Construction of the platform was carried out in two parts: Lower, truss spar, was made by Technip in Finland, and the topside was built in Texas.The Lucius truss spar, Anadarko’s largest, is today located in 7100 feet of water, in Keathley Canyon 875, 236 miles offshore in the Gulf of Mexico. First oil from the platform started flowing three years after the FID, in January 2015.In its first quarter results for 2015, Anadarko said it continued to ramp up production at the Lucius spar toward its design rate of 80,000 barrels of oil per day.Offshore Energy Today Stafflast_img read more

Court figures show rise in FTSE 100 litigation

first_imgThe number of High Court cases involving FTSE 100 companies has risen 16% in the last year, research from legal information provider Sweet & Maxwell has revealed. In the year to 30 June 2010, the study shows there were 179 cases involving the FTSE 100, compared to 154 the previous year. Financial services companies, which account for 18% of the FTSE 100, were involved in more than half (58%) of these. Sweet & Maxwell said the rise in cases involving large companies indicated that the litigation arising from the economic downturn is yet to reach its peak. The research also found that the big four UK banks – Lloyds Banking Group, Barclays, Royal Bank of Scotland and HSBC – were the most frequent visitors to the High Court, accounting for 43% of all appearances by FTSE 100 companies in 2009/10. This figure is down on the 49% in the previous year. In 2009/10, Lloyds Banking Group topped the list of FTSE 100 companies to have litigated in the High Court, with 24 High Court appearances. Over the same period the previous year, the Group had 40 High Court appearances.last_img read more

Intermarine reveals special consultant

first_imgPrior to his arrival at Intermarine, Bomer held the position of president and partner for Consolidated Steamship Agency, Houston – which served as agents for Universal Africa Lines and its partners.www.intermarineusa.comlast_img

Euroports loads BRI containers

first_imgThe containers arrived in Rostock after a 10,000 km journey from Xi’an – the eastern starting point of the BRI – before being transferred from ship to rail by Euroports using LHM 550 mobile harbour cranes.This operation, according to Liebherr, is indicative of Euroports’ plans to expand its Rostock terminal into an efficient multipurpose port and distribution centre of the BRI, acting as a link to Italy and Sweden.Euroports’ two Liebherr LHM 550s have a lifting capacity of 114 tonnes each. In tandem, the cranes can handle heavy-duty items with a maximum payload up to 288 tonnes.www.liebherr.comwww.euroports.comlast_img read more

ESTA honours members with 2020 awards

first_imgThe winners were announced at an online ceremony held on September 24, attended by over 400 international delegates.Fagioli won the first award of the event – combined techniques – for the lowering of 1,000-tonne bridge sections as part of the demolition of the Morandi Bridge in Genoa, Italy. Fagioli also virtually took home the SPMT job of the year award for moving a series of 80 m-long industrial vessels weighing 460 tonnes each.The transport award for trailer and load under 120 tonnes was awarded to Bolk Transport for the movement of storage tanks from Germany to Luxembourg.Kahl & Jansen’s transportation of a 400-tonne stator, with the combination weighing an impressive 790-tonnes, was recognised with the trailer and load above 120 tonnes award.Meanwhile, the crane award for telescopic lifting capacity more than 120 tonnes was awarded to BMS for its project lifting steel girders weighing 75 tonnes. The crane award for telescopic lifting capacity less than 120 tonnes went to Kynningsrud Nordic Crane for the recovery of a derailed overturned freight train.Sarens took home the trophy in the cranes, lattice boom category for its use of a 1,600-tonne capacity crawler crane to exchange legs on a jack-up barge. The crane required a capacity-enhancing boom system, which created a lifting radius of 37 m.Mammoet Europe took home two of the awards: the safety award for the development of a reverse warning alarm system for certain types of trailer, and the innovation end user award for its Trailer Power Assist (TPA) hydraulic power pack system, which was used on a challenging transport project in Norway.The innovation manufacturer award went to Tadano Demag for its electro-hydraulic E-pack system.www.estaeurope.eulast_img read more

Bar votes on £15m offer to end legal aid boycott

first_imgCriminal barristers will decide today whether to accept the government’s £15m off er of investment into the criminal justice system to settle their boycott of new legal aid work.A ballot which has been open all weekend is due to close.A result is expected by tomorrow morning.If the proposals are rejected it is likely that a policy of ‘no returns’, which has been suspended until tomorrow, will immediately take effect, potentially throwing the court system into chaos.The Criminal Bar Association’s executive committee is not taking an official line but each chambers attached to the CBA has individually polled its members. More than 100 chambers have been refusing to take on new legal aid work since 1 April in protest at what they say are continuing cuts to legal aid fees for advocates.The Ministry of Justice offer, which is understood to be final, is: an extra £8m for fraud, drug and child sexual abuse cases that lose out under the new fee scheme; a 1% increase in advocacy payments from April 2019 (£2.5m); and further funding of about £4.5m, mainly for juniors.last_img read more

Railway supply industry news in brief

first_imgInvestor KKR has committed C$250m to fund growth at Torq Energy Logistics, which provides ‘wellsite to railcar‘ oil handling services in Canada. Sumitomo Mitsui Banking Corp has acquired US wagon leasing business Flagship Rail Services from Perella Weinberg Partners. FRS will now operate as SMBC Rail Services. Alstom has established a development centre in Madrid to co-ordinate its worldwide tramway signalling activities. Sinara Transport Machines has acquired a controlling stake in Russian track machine manufacturer Kalugaputmash from a pension fund. Consultancy BMT Asia Pacific and Singapore-based systems assurance specialist Orient Express Solutions have formed a partnership to collaborate on rail projects across southeast Asia. Tognum AG has been renamed Rolls-Royce Power Systems AG, reflecting its ownership by an equally-owned joint venture of Rolls-Royce plc and Daimler AG. The MTU brands are to be retained.last_img read more