In “product innovations which I wouldn’t have expected but which make lots of sense”; Starbucks has a debit card in the US (through Chase).
-
-
Oh this is one of the most important things to understand about retail banking: A bank branch is a sales office, staffed primarily by commissioned sales reps. Cash management and account servicing is offered just to keep people coming in to talk to the sales reps.
Show this thread -
The retail establishment most similar to a bank branch is a cell phone store. Their entire job is, in a conversation you have once every few years, get you onboarded to a product with badonkadonk LTVs. The badonkadonk nature of this is why there are cell phone shops everywhere.
Show this thread -
(Interestingly, many Japanese banks still have material back office operations at many of their branches. Large US and, to my understanding, UK banks have almost entirely eliminated this practice; retail back office is located either at HQ or at one of a few concentrated sites.)
Show this thread -
“Back office” refers to the parts of a financial institution which are not customer facing (accounting, recordkeeping, compliance, etc); “front office” is the part which is customer facing (sales and account servicing).
Show this thread
End of conversation
New conversation -
-
-
Or via the Starbucks mobile app which you already have installed for ordering?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.