CoreTrac Newsletter–Volume V, Issue I

Volume V, Issue I | February 2012
New Clients in 2012

Aero FCU
Shell FCU
Inland Bank & Trust
Western Bank
and others…

See CoreTrac’s core-integrated, banking-specific CRM/Sales Force Automated solution, ResourceOne, live in action.

InterAction Training Systems
Michael Neill & Associates
VSoft Corporation
Datacenter, Inc.
Cardinal Software
FIS Bankway
McCoy Myers
The Connors Group
The Benefits Edge

‘Need’ More Sales? You Must Find Out What Customers ‘Want’
By: Alan Buhler

Imagine the following scenario: Salesperson No. 1 is in the business of selling “A Pat on the Back” to his customers. Salesperson No. 2 is in the business of selling “A Swift Kick in the Pants.” After a hard day of selling, the two meet to discuss how they are doing.

No. 1: “Wow, what a busy day!”
No. 2: “Really, how’s business?”
No. 1: “Great! Everybody wants what I’m selling even though they say they don’t really need it. How’s business for you?”
No. 2: “Terrible.”
No. 1: “That’s hard to believe.”
No. 2: “Yeah, I can’t understand it. Everybody I know needs what I’m selling.”
People will always buy what they want, but not necessarily what they need. As consumers, we typically justify what we want (our purchases), at least in our own minds, as being something we need.>>more

What Community Banks Need to Survive the Dodd-Frank Act
By: Rich Longo 

Community banks have a lot of work to do in preparation for the more than 250 regulations associated with the Dodd-Frank Act. The Community Depository Institutions Advisory Council estimates that despite exemptions made for small institutions, adhering to Dodd-Frank will require community banks, already limited with resources, to hire staff, train them and increase transaction times. Consultants predict that a typical community bank will need to add two full-time employees just for compliance. Of course, talented compliance staff will be on high-demand, especially in rural areas, and training staff to meet the new requirements will be difficult. Conservatively estimating, these employee resources may cost a community bank $80,000 to $100,000 a year in additional salary and benefits. To put this in perspective, a $200 million community bank may spend $325,000 annually in technology costs. Even if community banks could find a way to afford such added expenses, they must still consider the potential income loss they may incur due to the Durbin Amendment and other rules.>>more

Visit Us On FacebookVisit Us On TwitterVisit Us On LinkedinVisit Us On Google PlusCheck Our Feed