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March 11, 2013
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Highlights and featured programming from CBA LIVE 2013, the must-attend event for leaders in retail banking

  LIVE from Phoenix 
  • Welcome to CBA LIVE 2013!
    In this special report, you will find select highlights from our event for top executives in retail banking, CBA LIVE 2013. Our three-day event features general sessions with must-see keynote speakers and panels of industry experts who are providing insight and analysis on the latest news and trends shaping consumer banking.

    In today's general session, for example, we heard from Sally Hogshead of Fascinate Inc. on how to add value by better understanding how we relate with customers, and we saw a detailed portrait of the next generation of banking customers, Millennials, from TRU. Tomorrow's conference lineup is packed with more insights from experts and regulators, including the Consumer Financial Protection Bureau's new acting deputy director. Read on for more on today's takeaways and tomorrow's highlights. We hope you enjoy Phoenix and this year's conference. While you're here, visit our exhibit hall to meet with trusted suppliers, industry partners, old friends and new connections. LinkedInFacebookTwitterEmail this Story
  Daily Recap 
  • Richard Hunt kicks off The Future of Money
    Richard Hunt, CBA president and CEO, welcomed the record-breaking crowd to the conference's first general session this afternoon. Hunt said the banking industry is the healthiest it's been in two decades, with 17 of 18 large banks passing the latest round of "stress tests" by the Federal Reserve, fewer banks on the failed-bank lists and quality assets at higher levels. But, he said, "We still have a lot of work to do." Banks are still in cost-cutting mode, they are dealing with low-interest rates and new regulations, and Congress remains at a stalemate. Banks' top competition is coming from players new to financial products and services, such as Google, PayPal and Twitter, Hunt said. The connection between personal relationships and technology, he said, is the key to banks' success.

  • Sally Hogshead on fascinating and adding value
    The future of money is creating a buzz and building engagement, said Sally Hogshead, chief fascination officer of Fascinate Inc. In contrast, the "past of money" is simply selling products, which requires banks to compete on price. "People will pay up to four times more to work with you if they feel that there's a connection there," she said her research has shown. Hogshead, who has created 49 personality archetypes, said bankers can tap into their personal competitive advantage by understanding their archetype, or their hard-wired way of connecting with customers. "The greatest value you can add," she said, "is to become more of yourself." LinkedInFacebookTwitterEmail this Story
  • Millennials expect banking to be digital, TRU research finds
    Millennials are starting their adult lives with high levels of student debt, and many are delaying traditional financial goals such as purchasing a home while they focus on day-to-day transactions, data from a TRU study show. The data, gathered from four focus groups commissioned by CBA, reveal that Millennials expect bank products to be easy and effective, and they expect them to be digital. Many in this generation see digital banking as potentially more intimate than traditional banking relationships. "Looking at this from a Millennial's viewpoint makes you realize that technology isn't an add-on," said Katie Sacksteder, vice president at TRU. "It's life." Bankers should pay attention to this generation, Sacksteder said, because they are the largest living generation, they are entering their prime consuming years, and they are uniquely influential in part because of their technical savvy and social connections. LinkedInFacebookTwitterEmail this Story
  • Bob Kottler: CBA is working to advocate, educate, innovate
    CBA's three goals this year are to advocate, educate and innovate, Chairman Bob Kottler said today. CBA is advocating on the regulatory front, especially on matters related to the Consumer Financial Protection Bureau. Education efforts are focused on growing future leaders for the industry, and innovation efforts emphasize putting the customer first, he said. LinkedInFacebookTwitterEmail this Story

  • Forrester, CBA research details state of banking eBusiness
    Digital channels will represent less than 5% of revenue this year for 43% of banks, according to The State Of North American Digital Banking 2013, a survey of 21 eBusiness executives by Forrester Research and the Consumer Bankers Association. Meanwhile, customers continue to adopt digital channels at a record pace, and online and mobile channels lead the way in terms of frequency of use. These channels reduce customer reliance on more costly channels such as branches, ATMs and call centers. Banks are directing significant resources toward online and mobile banking, yet just 15% of the executives surveyed said they have the budget they need to support multichannel initiatives.
  • VantageScore 3.0 opens credit to 27M more borrowers
    VantageScore's new scoring model broadens the universe of "scorable" consumers by 27 million to 30 million, said Barrett Burns, the company's president and CEO, as he unveiled VantageScore 3.0 this morning at a CBA LIVE breakfast roundtable event. The model uses more granular data than prior versions, giving lenders increased confidence and opening credit access to additional people. VantageScore also announced, a site that gives lenders and consumers more information on the factors that drive individuals' credit scores. Payment history is a larger factor in VantageScore 3.0 than in prior models, said Sarah Davies, senior vice president of project management. LinkedInFacebookTwitterEmail this Story
  Coming Up Tomorrow 
  • Rapid-fire panel focuses on the CFPB and Capitol Hill
    Don't miss this fast-paced analysis of the Consumer Financial Protection Bureau, including questions surrounding the qualified-mortgage rule, the bureau's leadership and structure, enforcement actions and supervision of non-banks.
    8-8:30 a.m. | Grand Saguaro North South LinkedInFacebookTwitterEmail this Story
  • Brett King: The Future of the Bank Branch
    Brett King is the founder of Movenbank, the first direct mobile bank in the U.S. and U.K., strategic adviser to leading financial services organizations and author of the book "BANK 3.0." King will share his perspective on the latest trends redefining financial services and payments. He will also discuss the growing gap between the customer and financial services players, which leaves significant opportunities for new, non-bank competitors to disrupt the industry.
    8:30-9 a.m. | Grand Saguaro North South

  • Dead or Alive: The Branch Debate
    A panel of experts will debate whether brick-and-mortar will give way to broadband and mobile. Cast your vote and get in on the debate. Hear how financial services continue to evolve as customers become more technically savvy and demand information at their fingertips.
    9-9:45 a.m. | Grand Saguaro North South LinkedInFacebookTwitterEmail this Story
  • Lunch with the CFPB's Steven Antonakes
    Steven Antonakes, the Consumer Financial Protection Bureau's acting deputy director and associate director for supervision, enforcement and fair lending, will discuss what lies ahead for the agency, now closing in on its second year of business.
    11:20 a.m.-1:30 p.m. | Grand Saguaro North South

  More Resources 
  • Download the free CBA LIVE 2013 App
    Stay on top of all CBA LIVE program details with the free app, available for the iPhone, iPad, Android, and Blackberry. Sponsored by Nomis Solutions. LinkedInFacebookTwitterEmail this Story
  • Don't forget to tweet!
    Use hashtag #CBALIVE to continue the conversation and share your CBA LIVE experience. Also, connect with CBA on Facebook and LinkedIn.

    Tweets from today's sessions:

    Consumer Bankers ‏@CBAConnect
    Take care of your employees and customers first and growth an profits will follow #enterprise CEO Andy Taylor #cbalive

    VantageScore SVP Sarah Davies: VantageScore 3.0 also extends scores to some consumers with little credit history. #CBALIVE

    LexisNexis Risk ‏@LexisNexisRisk
    Over 100M people in US have prime or superprime credit scores. Surprised? More stats from @CreditExperts: #CBALIVE

    Allison Landers ‏@AllisonLanders
    #cbalive 80# of millennials say saving is important, but just 20% have a 401k #tru LinkedInFacebookTwitterEmail this Story

Product announcements appearing in SmartBrief are paid advertisements and do not reflect actual CBA endorsements. The news reported in SmartBrief does not necessarily reflect the official position of CBA.
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