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Victoria Fierson
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  • New York. NY
  • United States
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Tim Stokka and Victoria Fierson are now friends
January 22
Looks like Prosper's new loan hiatus is over, according to The New York Times. However, there will be some changes to its business policy: "The site will no longer accept loan listings from individuals with credit scores under 640," writes Brad Sto…
April 28, 2009

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Corporate Title
Associate Editor
Company
Royal Media Group
City, ST
New York, NY

Victoria Fierson's Blog

Victoria Fierson

What’s Your Number: Even Requests for Data on Deposits Climb

It is not just consumers who are more attuned to deposit products today. Bankers, in fact, want more data on their deposit holdings, too.

Rick Barham, the chief executive of Market Rates Insight, a market data company, says bankers are seeking more deposit pricing statistics from his company. Barham says that over the past six months, he has seen an increase in demand for pricing data on certificate of deposits, as well.

"Right now these are the products that people want," says Barham. "Within… Continue

Posted on January 6, 2009 at 9:30am —

Victoria Fierson

Traditional Banking Model is Key to Success, Says Danvers Bank COO

The community banking industry has been able to remain fairly stable despite the troubles investment and larger commercial banks have faced this year.

Jim McCarthy, executive president and COO, Danvers Bank located in Danvers Massachusetts, says his bank has always stuck to traditional banking practices and principals. He attributes Danvers Bank’s ability to weather the financial storm to smart and traditional banking practices that were used all along.

"When it comes to money, if it looks too… Continue

Posted on December 30, 2008 at 3:30pm — 3 Comments

Victoria Fierson

Bank Customer Service Improves, Survey Says

Banks have stepped up their customer service game and Forrester Research Group has the data to prove that it’s working.

Forrester’s 2008 Customer Experience Survey ranks consumers’ recent interactions with different companies. Bruce Temkin, VP & principal analyst, customer experience, for Forrester says the survey gauges consumer satisfaction based on the criteria of usefulness, usability and enjoyment.

"This year’s index shows that banks made the largest jump in improvement," Temkin says.… Continue

Posted on December 19, 2008 at 1:00pm —

Victoria Fierson

Newly Launched ZimpleMoney: P2P Lending Zimplified

Call me old fashioned, but I prefer making financial transactions face-to-face.

Others may be more forward thinking because P2P lending sites keep launching. The newest, ZimpleMoney, was launched last Monday.

Although I am not fully sold on online tools, I would seriously consider using this one.

For one, the site is inviting. The attractive purple-green-and-white layout and pleasing design made me want to look around. More importantly, as a P2P newcomer, the site is highly navigable. In fact… Continue

Posted on December 17, 2008 at 4:00pm — 3 Comments

Victoria Fierson

ABA Gives Thumbs Up to Subprime Lending -- Really

Quietly, the American Bankers Association, that stalwart of conservative American banking, has blessed a new "subprime" commercial loan product.

The ABA has formally endorsed the Proceed Business Loan program created by Promontory Interfinancial Corp., which was rolled out earlier this month. "ABA members can use the product to establish relationships with customers, gain deposits and accounts without adding balance sheet risk," says Lisa Gold Schier, senior vice president of the ABA's Corporat… Continue

Posted on December 5, 2008 at 1:30pm — 2 Comments

Comment Wall (16 comments)

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At 9:40pm on December 18, 2008, Madeline Wade said…
Victoria
Thank you for sharing... I do love netbanker and have gone to the Finovate conferences they hold. How amazing is it if Cox would pick that up and read it... I love it thanks again for sending this to me. Thank you for presenting such interesting topic matter.
M
At 5:46am on December 15, 2008, Roger Craven said…
It looks a sensible solution, thought whether it will have much affect is another matter.
At 5:37pm on December 11, 2008, Roger Craven said…
I think you are absolutely right. Although we are assuming that the politicians and the banks behave rationally... we don't have a lot of recent empirical evidence to back that assumption up.
At 4:52pm on December 11, 2008, Roger Craven said…
Hi Victoria
Good question. No I don't think the Government will step in to shore up the banks on the personal debt side. The banks are being portrayed in the media as greedy and ungrateful fools who are taking tax payers money and failing to pas on the benefits to consumers and businesses of interest rate cuts. Against a back ground like that it would be difficult fo the Government to justify another bail out. Also I'm not sure how much is in the cupboard. What do you think?
At 9:23am on December 10, 2008, Jane Gore said…
Definitely! Welcome to NJ Bank Marketing Association!
At 3:39pm on December 9, 2008, Jane Gore said…
I do attend all of the programs I can - and have for 16 years! i was responsible for getting the speakers for the Forecast 2009 program - and did the intros. I thought they were terrific - all of them - and more upbeat than I would have thought! What bank are you with ?
At 12:04pm on November 18, 2008, Charles W. Jones III said…
Victoria, while I cannot comment for your aticle. The ability to diversify product mix is an advantage in my personal opinion. .
At 12:12pm on November 14, 2008, Scott Oppliger said…
Victoria,

To answer your question - "what's hindering financial institutions from offering PFM's right now?" I would say there are three primary forces at work. The first is that PFMs are, by nature, tools that allow you to manage accounts at several different institutions - multiple banks, credit unions, credit cards, etc. I'm not sure most banks wouldn't view this a introducing a competitor of sorts to their customers. The second force at work is that many FI's aren't in control of their online properties - they are controlled by the core processors. For that reason, many banks are "out of the loop" when it comes to integrating a third party tool to their core - unless the core is the one providing the tool or has officially blessed it, they may be reluctant to jump in. The third force at work is perhaps a mindset that banks are transactional and not consultative. These are all forces I hope to gradually change. Banks could actually bring their customer relationships closer by opening up more and not fearing the competition.

Your second question, "Are there any financial institutions affiliated with these startups?" is something I'm not certain of. By affiliated I am assuming you mean as a financial partner (investor). I would doubt that this is the case, but there are excellent opportunities for innovative, forward thinking financial institutions to take the bull by the horns and shape future trends in online banking rather than simply following the ones their core processors hand them.
At 9:33am on October 14, 2008, Johan Bryggare said…
Hi Victoria,
I'd love to see something similar in my bank but right now it feels like a project a little to big. You really have to be prepared to act upon the best ideas, ti implement the and show that you take them for real. But I will definiteley push the idea. A little depending on who you ask, youngsters are an important target. We're sponsoring the Swedish Tennis Federation for example, an initiativ directly geared towards youngsters. But there is still much work to be done when it comes to digital initiatives and in my opinion there is also room for more specific products and services for young people.
At 12:06pm on September 25, 2008, Maureen O'Brien said…
Hi Victoria: I don't know that these would really qualify as a reverse auction, but just pools of distressed loans. Due diligence can, or cannot be stiff, depending on the investor, which determines the price drop. Of course BPOs has affect these asset prices dramatically because of the decline of values. I hope this explains it a bit more. It's actually simple, yet complicated. I've just closed out some pool sales for a division of Citi Mortgage that they are now closing down so I'll be marketing myself again if you know of any companies looking for my expertise. Thanks again.
 
 

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