Where Are We Headed? Predictions for 2015
2014 proved to be an interesting year, both from an economics standpoint and from the perspective of the financial services industry. What’s on the horizon for 2015? This article will preview The Raddon Report’s predictions for the coming year.
2015 is likely to be a year of continuing economic improvement, but there are many threats to be avoided or we could experience a slowdown in growth. There has been continued improvement in the labor markets, although this is in many ways an illusion – the improvement in the unemployment rate is largely due to how it is measured, not significant gains in actual employment. Moreover, our concern is that what was a cyclical unemployment problem is morphing into structural unemployment. The mismatch between the skills employers are seeking and the skills potential employees possess continues to widen, and labor costs continue to escalate. At the same time, automation and technology are allowing employers to produce what they need with lower labor costs. Although this is a trend that dates back to the height of the Great Recession, it is likely to continue to escalate. Read the whole story »
Don’t Let Apple Pay Disrupt Your Mobile Payment Strategy
As the iPhone® 6 makes its way into the hands of consumers, the way we pay may be changed forever. The phone, with its embedded Apple PayTM capabilities, has the potential to be the tipping point for widespread adoption of mobile point-of-sale payments.
Virtual and Express Branches Do Have Appeal
In the last several years, industry analysts have observed ad nauseam that financial institutions need to weigh the value of their branch networks, as well as change the role and structure of their branches, since consumers are handling more and more of their transactions through self-service channels.
The Lending Opportunities Presented by Millennials (Gen Y)
Consumer loan demand continues to wane, financial institutions face earnings challenges, and anticipated interest rate increases loom on the horizon for 2015. Yet in light of all of this, segments of the population are becoming more optimistic and looking for different ways to spend (and borrow).