Personnel costs comparison across industries


 I found this table quite interesting, in that Banking while on the higher end of staff costs, is not the highest, with manufacturing and insurance beating us out. Human Resources Function Operating Expense per Employee, by Industry Industry Median Nondurable goods manufacturing $1,523 Durable goods manufacturing 1,500 Insurance 1,413 Banking and finance 1,341 Utilities and energy 1,251 Services 1,105 Retail and wholesale trade 948 Health care 754 Source: Watson Wyatt Data Services (The Controller’s Report [IOMA], February 2006, pp. 8-9) Source:  CMC Training   Technorati tags: costs, personnel, ranking Continue reading Personnel costs comparison across industries

Bank of America | The meaning of scale


 BofA reported net income in the third quarter of 2006 rose 41 percent to US$5.42 billion from US$3.84 billion.  But the real message in this press release, is the sheer scale.  Their customer base is double the size of Canada, and similar to the total population of the UK. The company provides unmatched convenience in the United States, serving more than 55 million consumer and small business relationships with more than 5,700 retail banking offices, nearly 17,000 ATMs and award-winning online banking with more than 20 million active users. Bank of America is the No. 1 overall Small Business Administration … Continue reading Bank of America | The meaning of scale

HSBC Commercial Banking scoops award – Money News


 New ranking information on UK Online banking, but although hard to tell, I think specific to business banking. Two independent polls have named HSBC Commercial Banking’s Internet banking facilities as the best in Britain. Global Finance magazine has named the bank as the Best Corporate/Institutional Bank in the UK in its yearly survey. Financial website Moneyfacts has also awarded HSBC Commercial Banking the accolade of the best provider of online business banking services. Source: HSBC Commercial Banking scoops award – Money News technorati tags: online+banking, ranking, UK Continue reading HSBC Commercial Banking scoops award – Money News

Canadian Banks & Insurance: Canadian online brokers ranking belies their success


The Canadian online brokerage industry lives under the shadow of the Globe and Mail rankings, to a far greater extent than the Banks worried about the old Gomez online banking surveys.  I believe those surveys, while useful indicators, can result in dysfunctional investment, and all the while the customer is lost. Consider the facts: Globe & Mail Market Share Qtrade TD ETrade RBC Credential BMO InvestorLine           The surveys are useful indicators, but they drive Banks and Brokers into a functionality race, so customer and community engagement is lost. ” No. 1 / Qtrade Investor / … Continue reading Canadian Banks & Insurance: Canadian online brokers ranking belies their success

Big bank earning season gets underway


HSBC kicks off the earnings season, with their results for the first 6 months coming later today.  Results apparently look good. Bloomberg.com: U.K. Net income at London-based HSBC probably rose 8.1 percent to $8.21 billion, according to the median estimate of 12 analysts surveyed by Bloomberg. Edinburgh-based Royal Bank’s profit climbed an estimated 14 percent to 2.9 billion pounds ($5.4 billion) and earnings at London-based Barclays probably increased 16 percent to 2.14 billion pounds. HSBC will post its results later today. The banks hired about 4,000 people for their securities units and spent more than $12 billion on acquisitions in … Continue reading Big bank earning season gets underway

The new number one -Bank of America


Bank of America takes number one position in FI profitiability, and almost number one in market cap.

Economist.com | Articles by Subject | Bank of America

Jul 27th 2006 | CHARLOTTE
From The Economist print edition

SENIOR employees of Bank of America (BofA) packed into the auditorium at the company’s headquarters in Charlotte on July 20th. They had gathered to hear Kenneth Lewis, the chief executive, deliver a long-awaited message: thanks to BofA’s earnings of $5.5 billion in the second quarter, they now worked for the most profitable financial institution in the world. To cheers, he added: “It was nothing personal; Citi just got in the way.”

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It’s The Feature Arms Race that leads to so much sameness among products!


Online Banking is virtually identical amongst the big banks.  We all sit around and compare the functionality differences, identify those as the root cause of our problems, and claim out share of the investment plan to ensure “competitive parity”. Well, Kathy’s post here, in typical fashion points out why that approach is a bad idea, and results in sameness amongst products – in our case amongst online banking. Creating Passionate Users: Ignore the competition What would happen if we completely, utterly, totally ignored the competition? What if we stopped thinking about competition at all? Perhaps if we devote all of … Continue reading It’s The Feature Arms Race that leads to so much sameness among products!

Spectacular CU website: Coast Capital Savings


Thanks to Trey for this.  This site is spectacular, with elements of fun, creativity, and excellent user design. Spectacular CU website: Coast Capital Savings stumbled upon the new website for a Canadian credit union yesterday. It’s for Coast Capital Savings, and it’s hands down in the top 1% of credit union sites (and CU marketing in general, for that matter). I liked: multiple bill payment design – blindingly simple, and best in class clean simple design use of humour secure home page Julie Check out the demo. Technorati Tags: online+banking Continue reading Spectacular CU website: Coast Capital Savings