By Melissa Chefec, Business Development Manager

You go to the deli to buy a sandwich, chips and a soda and it comes to $13.20. You give the guy $15 and he gives you back $1. You ask, “hey, what about the 80 cents?” to which he replies, “we don’t have change.”

You need quarters for the washing machine at the corner laundromat. You go to the nearest bank with ten bucks for a roll of quarters only to be turned away because you don’t have an account there and they are not giving change to non-customers.

By Erin O'Brien, Assistant Project Manager

The COVID-19 pandemic closed down almost every bank’s branch network during the height of the pandemic. Even now, most branch lobbies require appointments upon entry so the highest priority banking can be performed.

By Melissa Chefec, Business Development Manager
 

In planning customer communications for a bank merger, you’ll need to focus on the strategies that ensure a smooth transition of your newly acquired clients to their new accounts and services. The same holds true when it’s a systems conversion impacting your own customers.

Once customers have migrated to their new accounts and their first statements have arrived, that’s when additional communications may matter most in the long-term.

Occasionally, our clients will ask for our take on blogging, and whether it’s worth the investment of time (or money, if they have to pay a copywriter). Our answer is an emphatic YES! Here are the top three reasons why blogging is worth the effort:

First announced in 2017, the phaseout of LIBOR (London Interbank Offered Rate) as a global interest rate benchmark for interbank lending will be completed by the end of 2021. In addition, many banks also use LIBOR as a reference rate for adjustable rate commercial and consumer loans. The United States Federal Reserve has recommended SOFR (Secured Overnight Financing Rate) as a replacement.

Here at MKP, we know how to serve our financial institution clients because we’ve walked many miles in their shoes.

We recently interviewed three members of the MKP team to hear what they had to say about their experiences working on the “client side” before coming to work at MKP, and what their experience means for our clients.

How did working at a bank prepare you to work at an agency like MKP?

One of the most powerful tools marketers have at their disposal today is video. Television has long been an effective way to reach an audience, but the advent of online marketing combined with more economical means of video production has resulted in a revolution whereby video content is the principal inexpensive and disseminable means for engaging employees, customers and business prospects alike.

As you may know, LIBOR (London Interbank Offered Rate) is a global interest rate benchmark that banks use to lend to each other. Many banks also use LIBOR as a reference rate for commercial and consumer loans that carry an adjustable rate. As a result of some global scandals related to LIBOR rate manipulation, it will be phased out by the end of 2021.

In celebration of our 25th year in business, President and CEO Hillary Kelbick reflects on some of the challenges and satisfactions of leading MKP through the years.

You mentioned that MKP started out with some major successes against much larger firms. How did you manage that?