News Archive

Amny — As Economy Improves, More People Quit Jobs Than Get Laid Off 10th Jun 2010 “You get a lot of people who are unhappy with their current situation. They feel like they’ve been abused,” said Alan Mattei, managing director of a city consulting firm working in the financial sector.

Bank Investment consultant — Industry Upbeat on LPL’s IPO 10th Jun 2010 If there’s any potential negative at all for banks and advisors, it’s that new pressures on LPL as a public company from analysts could cause it to cut its prices in order to better compete with other broker-dealers, says Gregory Smith, managing director at Novantas.

American Banker — Financial ‘Supermarket’ Idea Re-Emerges, in Humbler Form 1st Jun 2010 “The hottest topic we’re hearing now from banks is around the topic of relationship pricing,” said Sherief Meleis, a managing director at Novantas LLC.

Bankrate.com — Want Free Checking? Check Out Credit Unions 17th May 2010 “The average consumer does 25 to 30 transactions per month on an account,” says Hank Israel, director at Novantas, a consulting firm to the financial industry.

The Bellingham Herald — Foote Named to Cascade Financial’s Board 2nd May 2010 “Robin has extensive commercial banking and marketing experience with a deep background in financial services and we are pleased to add someone of her caliber to our board of directors,” said David Duce, Chair of Cascade’s Corporate Governance and Nominating Committee.

US Banker — Opportunities in Health Reform 29th Apr 2010 “Banks need to find high-quality earning sources right now, because they need to rebuild capital,” says Jessiman of Novantas, LLC. “They also need to earn more from their clients on a risk-adjusted basis, because they can’t earn more from loans that end up going bad.”

richmond times-dispach — Talking Money: Benefiting From Bank Fee Changes 1st Apr 2010 It may seem like free checking is an age-old service, but that's not the case, and in fact, these accounts are pretty much limited to the U.S., says Sherief Meleis, managing director at Novantas, a financial-services consulting company.

cnbc — Demos: High Unemployment & Its Surprising New Economic Effect 1st Apr 2010 Darryl Demos, managing director of Novantas explains: ”For the last few 2 quarters, it has been clear that while job losses have been slowing, unemployment levels are still stubbornly high. Yet in the last two quarters, we have seen much stronger than expected consumer spending.”

the New york times — Switch Banks? You Might Find There’s a Perk in It for You 24th Mar 2010 “Once you understand that 60 to 70 percent of the population is living paycheck to paycheck, the bottom line is that you can’t move the account if you don’t have extra cash to leave behind for two months,” said Hank Israel, a director with Novantas, a consulting firm.

Bankrate.com — High-yield checking perks have strings 23rd Mar 2010 “Banks will often put in place some type of reverse tier where it would say your checking account can only pay you that interest up to a certain threshold,” says Richard Solomon, a director with Novantas, a financial services consulting firm in New York.

Daily News — What To Do If Your Bank Eliminates No-cost Checking 22nd Mar 2010 “What you’re going to see, for the most part, is real innovation around checking accounts. That might be something as simple as adding an identity theft protection service to your account. Banks are going to be more active in offering valuable services that customers would be interested in paying for,” said Sherief Meleis, a managing director at Novantas, a financial services consulting company.

the wall street journal — Online Checking: Are the Lower Fees Worth the Hassle? 22nd Mar 2010 To compete with their online challengers, bigger banks could start offering new bells and whistles to checking accounts, such as cellphone applications or ID theft protection, says Sherief Meleis, a managing director at consulting firm Novantas. “[Traditional banks] are not going to disappear,” he says. “But they do have to up their game.”

Prepaid Press — Prepaid Payments in Business and Government 16th Mar 2010 “Prepaid cards are useful for institutions with lots of people in the field who need to be provided with per diem expense budgets,” noted Alan Mattei, managing director of Novantas. “For more extensive travel, a prepaid card does not offer the same flexibility as a credit card, especially when there are large unforeseen hotel and air expenses, but it does limit your business exposure.”

Fox business — New Overdraft Rules May Result In Higher Costs for Everyone 15th Mar 2010 “Consumers were getting this incredible value of free checking,” said Sherief Meleis, managing director with the banking consulting firm Novantas. “Banks are going to have to come up with products, along with fee opportunities, to make up for the loss in revenue.”

insurance books — Call forwarding: insurers must continuously improve their skills to convert more call center prospects into policyholders. 15th Mar 2010 At a deeper level, a Novantas analysis indicates that most direct purchases have come from drivers with low risk profiles, a group more easily underwritten via rapid-fire techniques. As more of this customer pool is tapped out — which Novantas believes is already happening…

cuna lending council — Collection Strategies Adjust to Economy 8th Mar 2010 The industry-wide move toward settlement offers is “a blunt instrument that reflects the degree of distress in the industry,” says Jim Bramlett, managing director at consulting firm Novantas. … “You need to make some sort of appeal to the person in a way that’s going to say, ‘I’m trying to work with you here’,” says Alan Mattei, Novantas managing director.

toolbox.com — Connecting With Employees and Customers? Let Me Count the Ways. 8th Mar 2010 Another customer experience champion is Novantas, the rapidly growing financial services consulting firm. Where Amica emphasizes emotional connections with consumers, Novantas emphasizes rational connections with corporate clients. It applies advanced mathematics and modeling to help its clients deliver extraordinary experiences to the client’s customers.

US Banker — In Search Of Wallet Share 1st Mar 2010 “Relationship banking has never been more important than now for the proper economics of the business,” says Rick Spitler, a managing director at Novantas, a consulting firm in New York. “Cross—selling and relationship banking have to be a huge priority going forward,“ especially since new regulations will drive up the costs of checking accounts.

Nasdaq — The Shadow Retirement Market 20th Feb 2010 Wayne Cutler, managing director of Novantas, explains, “Banking’s expansion into the retirement business proved problematic in the Great Recession. Despite recent market gains, most households are still hurting, while advisors struggle to retain customers and rebuild income.”

Collections & Credit Risk — Economic Downturn Leads To New Collection Strategies 18th Feb 2010 Jim Bramlett, a managing director at New York-based consulting firm Novantas LLC, describes the industry's move toward larger and more generous settlement offers as “a blunt instrument” that reflects “the degree of distress in the industry.”

The Prepaid Press — 5 Minutes With Alan Mattei 14th Feb 2010 One of the predictions about prepaid debit cards was so intriguing we decided to talk to the prognosticator himself, Alan Mattei of the Novantas consultancy. He speculated on the impact of recent credit card legislation on the sale of prepaid debit cards.

golden mean — The New Rules For Branch Performance 8th Feb 2010 Recently, I have been contemplating the new rules to answer the question of how to accelerate “per branch” profitability in today’s economy. Luckily, the folks at Novantas have also been contemplating this and have written an excellent article on the topic.

Scottrade — Banks Concerned About Driving Efficient Revenue Growth 2nd Feb 2010 Novantas LLC, the leading provider of management consultancy and information services to the financial services industries, today announced the expansion of its Distribution Services to include workforce and process optimization through the addition of Darryl Demos as a Managing Director in the Firm’s New York City office.

Bank Investment Consultant — The Shadow Retirement Market 1st Feb 2010 Wayne Cutler, managing director of Novantas, explains, “Banking’s expansion into the retirement business proved problematic in the Great Recession. Despite recent market gains, most households are still hurting, while advisors struggle to retain customers and rebuild income.”

US Banker — Pursuing A Tinier Target 1st Feb 2010 Given the blind spots, banks have a “myopic” view of the business loan and deposit potential in their markets, says Les Dinkin, managing director at Novantas. So they may not properly target priority markets, align sales goals efficiently or value services accurately.

Fox business — Verint Systems and Novantas Form Strategic Alliance for Retail Financial Services Workforce Optimization Solutions 26th Jan 2010 The initiative with Novantas, a leading provider of management consulting and information services to the financial services industries, will bring together Verint's market-leading branch bank workforce optimization (WFO) solutions with Novantas' leading market/deposit …

CNBC — Obamanomics is a Chilling Experiment 22nd Jan 2010 Dave Kaytes, managing director of Novantas, explains, “President Barack Obama’s pledge to impose business line restrictions on banks appeared to catch the market by surprise yesterday, judging from the 200 point tumble in the Dow. Whether or not one supports these measures in concept, the announcements themselves were ill-advised.”

US Banker — Customers Spring For Custom Checking 22nd Jan 2010 Hank Israel, a partner at Novantas, said banks will need to bring more to the table to get consumers to spend money on standard DDA products. “People don’t want to pay for existing services,” Israel said. “What people are most willing to pay for is identity protection.”

Bankrate — Will Free Checking Disappear? 21st Jan 2010 Hank Israel, director at Novantas, a New York-based consulting firm to the financial services industry, says changes to overdraft rules could cost the industry billions in fees.

The Prepaid Press — Stored Value/Prepaid Debit Cards: Predictions 2010 21st Jan 2010 Hank Israel, director at Novantas, explains “We do not see 2010 being a big year for open ended debit cards. While some industry analysts predict recent overdraft regulation will make open loop debit cards more competitive, the reality is, it will do the exact opposite.“

CNBC — Are The Doomsayers Right About A Commercial Real Estate Crisis? 20th Jan 2010 Dave Kaytes, managing director of Novantas, explains, “The fear of a commercial real estate crisis is an outgrowth of the recession caused by the crash in the residential market. While the similarities are compelling, there are some important differences between the two.”

Payments Source — Lenders, Agencies Tweak Collection Strategies In Recession 7th Jan 2010 Jim Bramlett, a managing director at Novantas LLC, describes the industry-wide move toward larger and more generous settlement offers as “a blunt instrument” that reflects “the degree of distress in the industry.” Alan Mattei, another managing director at Novantas, says “If you can create a bit more affinity between the rep and the customer, you’re likelier to get through and likelier to get them to pay what little bit they can in your favor.”

US Banker — Bank Branches: The Changing Nature of Work and Workers 1st Jan 2010 Major economic and social factors today have dramatically impacted the type of work bankers do, as well as the type of employees banks need. From the employee's perspective, we are finding that a large percentage of the labor pool is increasingly loyal to employers…

Bank Investment consultant — What Does the Future Hold? 1st Jan 2010 “Regulation is fundamentally altering the landscape,” says Kevin Travis, a principal at New York-based consulting firm Novantas. “I think this is great news for bank brokerage.” Why? Because Congress is threatening to cap such bread-and-butter bank income as fees on credit cards and account overdrafts at the same time as lending is tight.

Financial Planning — Consumer Fees: The Hits Keep Coming 28th Dec 2009 “At some banks, as much as 40% to 50% of those fees are in jeopardy,” said Rick Spitler, a managing director at Novantas. “What are you going to do, close a bunch of branches? That’s scary — but they have to take huge amounts of costs out.”

Wallet Pop — Bank Deposit Error in Your Favor? Give it Back 9th Dec 2009 Alan Mattei, managing director of Novantas LLC, a strategy consulting firm specializing in the financial services industry, says banks will aggressively pursue anyone who does not return erroneous bank deposits.

North Jersey / The Record — Banking on a busy highway 30th Nov 2009 “In this tough economy many banks are consolidating in areas where a concentration of people live, work and shop,” said Les Dinkin, managing director of Novantas LLC, a New York City-based management consulting firm.

Insurance & Technology — Insurance Focus: How the AIG Crisis Is Changing the Insurance Industry 24th Nov 2009 I&T’s Kathy Burger speaks with Matt Josefowicz, Director of the Insurance Practice at Novarica, about how developments at AIG are changing the way other insurers operate.

ABC Money — Overdraft Reform Pending: New Report From Informa Research Services and Novantas Shows How Financial Institutions Should Prepare 17th Nov 2009 “With the potential of pending overdraft reform eroding 15% or more of checking account revenues, financial institutions need to prepare,” said Hank Israel, director at Novantas.

Arizona Daily Star — Banks Must Build Loyalty for Any Long-Term Benefit 9th Nov 2009 “There’s a lot of money in motion, and banks need to demonstrate core deposit growth,” said Les Dinkin, a director at management consulting firm Novantas. “The kinds of offers range from financial incentives to rewards points to gadgets. We see offers ranging from iPods to Crock-Pots.”

American Banker — Next-Gen Branches Start Taking Shape (and Size) 6th Nov 2009 Les Dinkin, a managing director at Novantas LLC, a New York consulting firm, said many banks will tailor new branches to their communities. For example, a bank opening a branch in the heart of a downtown business district should consider a more traditional layout and design with more full-time small business experts based in the branch.

American Banker — Branch Managers Return to Front Lines 3rd Nov 2009 Bob Ellis, a principal in the wealth management practice at the consulting firm Novarica, a division of Novantas LLC, said branch managers were earning an average of $300,000 to $600,000 a year in salary and bonuses. “Production at these firms has gone to hell because of the market,” he said.

Wallet Pop — What to Do if Your Bank Follows the 115 That Failed This Year 2nd Nov 2009 Let's start with the last point first. Just how do you keep your money safe in the event your bank fails? Ken Alverson, managing director of Novantas, a consulting firm for the banking and credit card industry, has several recommendations to help you protect your money should your bank fail.

American Banker — Overdrafts Undermine Checking 30th Oct 2009 “I think there is going to be a steeplechase” among banks looking to retool free checking, said Hank Israel, the director of payments and checking at Novantas LLC. “Free isn’t going to go away totally,” he said, “but I think it will become a damaged item. Banks will have to tout it as free, but ….”

American Banker — To Predict Deposit Rates, Take a Look at Jobs Data 28th Oct 2009 If deposit rates remain low until that time, banks will continue to eke out margins from core deposits, particularly if deposit rates do not increase as rapidly as the Fed funds or Libor rates do, said Rich Solomon, a director at Novantas LLC.

Chron — Banks Offering ‘Free’ Money 26th Oct 2009 “There’s a lot of money in motion, and banks need to demonstrate core deposit growth,” said Les Dinkin, a managing director at the New York management consulting firm Novantas. “The kinds of offers range from financial incentives to rewards points to gadgets. We see offers ranging from iPods to Crock-Pots.”

American Banker — Taking Care Of Business, And A Whole Lot More 26th Oct 2009 “Going after an owner’s business and personal deposits is going after the Holy Grail, because you have both sides of the relationship,” said Les Dinkin, a managing director at Novantas LLC. “Those customers tend to use even more products and services, and so they tend to be stickier.”

Reuters — Overdraft Reform Pending: New Report From Informa Research Services and Novantas Shows How Financial Institutions 26th Oct 2009 Informa Research Services, Inc., and Novantas LLC announce the release of a new report titled Checking Under Pressure. This report examines customer attitudes, needs, and behaviors surrounding checking transaction accounts.

Financial Planning — Citi’s Wealth Plan: An Impossible Dream? 23rd Oct 2009 Kevin Travis, director of Novantas, a consulting firm in New York City, says, “it’s a very good idea to have a multi-channel model because different segments want and need different types of tools and services. If this goes according to plan it could transform the investment delivery model in banks.”

Insurance & Technology — Insurance Focus: 2010 IT Budget Forecast 22nd Oct 2009 Matt Josefowicz of Novarica offers his views on insurance IT budgets in 2010, where spending will be targeted, and changes in the insurance IT buying process.

Bank Investment Consultant — Citi’s Wealth Plan: An Impossible Dream? 22nd Oct 2009 Kevin Travis, director of Novantas, a consulting firm in New York City, says, “it’s a very good idea to have a multi-channel model because different segments want and need different types of tools and services. If this goes according to plan it could transform the investment delivery model in banks.”

Wallet Pop — American Express Debuts New Card Offering Triple Points 13th Oct 2009 Jim Bramlett, managing director at Novantas, a consulting firm for the banking and credit card industry, predicted in a WalletPop interview a couple months ago that credit cards would be offering their most affluent customers even better rewards programs. And it looks like that's happening.

American Banker — An Expired Guarantee, A Deposit Opportunity 9th Oct 2009 Sherief Meleis, a managing director at Novantas LLC, said there is a tendency for customers to go “short and liquid” when interest rates are low, and that banks have plenty of products that fit those needs.

Financial Times — CARD Act Delays Credit Card Portfolio Deals 5th Oct 2009 The Act alone will result in a 100bp impact on card issuer revenue, which card issuers will attempt to make up in a large part by cost reduction methods including diluting rewards and reducing operating expenses, according to a third consultant, Rich Tambor, a managing director at Novantas.

Markets Media Online — FDIC To Tap Bank Reserves 1st Oct 2009 “It’s the best alternative we have,” Dave Kaytes, managing director at Novantas, told Markets Media. “No one wants an insolvent FDIC. But borrowing three years into the future to pay for today's bank failures is clearly only a stop gap measure. We still need to fix the underlying problem, and that fix is not just raising the assessment.”

American Banker — As Cards Game Changes, Regionals Aim To Cash In 28th Sep 2009 Rick Spitler, a managing director at consulting firm Novantas LLC, said the changing landscape could motivate some regional banking companies to reenter the business years after getting out. “There are banks below the top five who are looking seriously at returning,” he said, declining to identify any contenders.

American Banker — Destination Is Clear, But Journey Isn’t 24th Sep 2009 American ingenuity will continue to drive innovation. But Rick Spitler, managing director at the consulting firm Novantas LLC, said that, consciously or not, the industry may start taking its cues from somewhere else.

American Banker — Risks Are Many, But Half-Dozen Stand Out 18th Sep 2009 Increased competition for deposits could drive up deposit costs faster than loan rates, squeezing margins, said Novantas LLC Managing Director Sherief Meleis.…Les Dinkin, a managing director at Novantas LLC, said banks can do everything right on one side of their business…

Wallet Pop — How to Boost Your Credit Score — Fast 17th Sep 2009 Unless building credit history is a must, consumers should hold off on opening new accounts for at least three months before applying for a loan, says Gaurav Gupta, director in consumer lending and payments practice for Novantas, a business consulting firm in New York.

American Banker — Reluctance to Invest Now Can Exacerbate Tech Troubles Later 15th Sep 2009 “That’s the albatross around their necks, in that these systems have to be up 24/7 to handle massive amounts of data, and yet they’re not [able to help banks] to get new customers or to deepen relationships,” said Alan Mattei, a managing director at the New York consulting firm Novantas LLC. “These systems are table stakes. They don’t get you above your competitors.”

American Banker — Bank Training Programs’ Flaws Surface at the Worst Time 11th Sep 2009 “Between mergers and acquisitions and reorganizations, there’s a lot of people constantly being moved from one function to another,” said Alan Mattei, a managing director at Novantas LLC, a New York consulting firm. “A lot of those people are not getting training they need ...”

American Banker — New Race In Cards: Get Paid Before The Other Guy 10th Sep 2009 Jim Bramlett, a managing director at the consulting firm Novantas LLC, described the industrywide move toward larger and more generous settlement offers so far as “a blunt instrument” reflecting “the degree of distress in the industry.”… Alan Mattei, another managing director at Novantas …

Bank Investment Consultant — CEOs Who Get It 2nd Sep 2009 With big names placing huge bets on major investment businesses-Bank of America buying Merrill and Wells Fargo snatching Wachovia from Citigroup-certain bank CEOs “see wealth management as extremely important to their businesses,” says Alistair Jessiman, managing director of Novantas ...

Financial Planning — Should Bank Reps Be Worried? 1st Sep 2009 For advisors whose brand is virtually the same, such as Wachovia and Wachovia Securities, rate-chasing savers may flee both at the same time, warns Rick Spitler, managing director at Novantas, a consultant in New York City.

Smart Money — Is This the End of Free Checking? 31st Aug 2009 Already cash-strapped banks anticipate declining revenue from credit cards as rules from the CARD Act take effect, says Hank Israel, director of Novantas, a financial services consulting firm in New York.

Wallet Pop — Banking expert: Free checking accounts aren't long for this world 31st Aug 2009 The free checking account as we know it is likely at the start of its death throes. This is according to Hank Israel, a director at Novantas, a consulting firm for the banking and credit card industry…

Inside ARM — Credit Card Chargeoffs and Delinquencies Contracting Over Summer 28th Aug 2009 “The credit card issuers are closing inactive accounts and reducing lines of credit,” said Ken Alverson, managing director, Novantas, a New York-based financial services management consultancy.

American Banker — Complicated Future For ‘Free’ Checking 28th Aug 2009 “Americans love ‘free’ or the perception thereof, and so banks will try to keep the free checking product if it helps them,” or seek palatable alternatives, said Hank Israel, a director at Novantas LLC.

Financial Times — Canadian banks attract interest 28th Aug 2009 Bob Vokes, managing director at Novantas, a US-based consultancy, said that, with their strong capital positions, “I would expect all the banks to be looking to bolster their positions in the markets they have, and to be looking for adjacent markets to expand into.”

American Banker — Final Semester for Credit Cards Aimed at Students? 25th Aug 2009 The law’s impact, “from a portfolio size perspective, is perhaps not very material,” said Gaurav Gupta, a director of the consumer lending and payments practice at Novantas LLC and former executive in charge of Capital One’s young-adult cards.

Fraud Focus — The Future of Credit Card Reward Programs 25th Aug 2009 Jim Bramlett, a Managing Director of Novantas LLC talks about the future of Credit Card Reward Programs on “The CEO Show.”

Wallet Pop — Want a great credit card rewards program? It helps to be very rich. 24th Aug 2009 One way credit card companies can afford to offer these lavish perks, incidentally, is that these premium cards have a significant higher interchange rate, says Jim Bramlett, a managing director at Novantas, a consulting firm for the banking and credit card industry.

e–scan — Making Tradeoffs in Branch Efficiency 15th Aug 2009 The answer won’t be found in traditional strategies for branch network efficiency enhancement, according to Novantas consultants writing in the Bank Administration Institute’s Banking Strategies.

Tampa Bay Business Journal — Chase ventures where WaMu didn’t go: commercial banking 14th Aug 2009 “If a company doesn’t have international needs, doesn’t have capital market needs, but just basic transaction needs, then in a lot cases, the extra attention a community bank can give the company can be a competitive advantage,” Rice said. “Bigger banks have product capability, and if that’s something a company values, it would be difficult for a community bank to be competitive.”

American Banker — Varying Loan Portfolios: Easier Said Than Done 7th Aug 2009 “In a declining, slow-growth asset world, the way you survive is by segmenting and defining exactly the classes of assets you want to put on your balance sheet,” said Rick Spitler, a managing director at Novantas LLC.

The Wall Street Journal — Banks Get Picky In Doling Out Credit Cards 5th Aug 2009 “Without the ability to reprice customers, raise fees or rates, the old profitability calculation won’t apply,” says Alan Mattei…For consumers, this means that not only will it be harder and more expensive to get credit, but the average credit line that gets assigned up front will be less generous, says Rich Tambor of Novantas.

American Banker — Mid-Market Firms Rank Their Banks’ Service Delivery 4th Aug 2009 Responses from 6,250 middle-market businesses about their banks, which includes top tier, regional and larger community banks, are part of a joint study due out this week from Novantas LLC and the Connecticut research firm Greenwich Associates LLC.

Market Watch — Banks Get Picky In Doling Out Credit Cards 4th Aug 2009 Now, the industry is scrambling to figure out who its new profitable customer is. “Without the ability to reprice customers, raise fees or rates, the old profitability calculation won’t apply,” says Alan Mattei, managing director at Novantas LLC, a bank consulting firm.

Tampa Bay Business Journal — Branching out: Bankers wrestle with expansion strategies 8th Jul 2009 The area likely to undergo the greatest pressure for cost management is the branch system, said Sherief Meleis, also a managing director at Novantas. “Banks simply must find a way to serve customers without relying solely on $2 million-plus branches,” Meleis said.

American Banker — Big Banks Refuse to Yield on Their Deposit Pricing 1st Jul 2009 Steve Turner, a managing director at Novantas in New York, said that some may have initially thought the top banks receiving Tarp money were overly stressed and needed to offer higher rates to attract more customers, but media reports throughout the winter and spring proved…

Bank Investment Consultant — More or Less? Branch Debate Rages 1st Jul 2009 But not everyone believes branch networks will continue to expand. Dave Kaytes, a managing director in the New York consulting firm Novantas, says there could be as many as 10,000 fewer branches in the country in the next five years as the industry makes slashing costs its top priority.

US Banker — Bidder Medicine 29th Jun 2009 “This should be good for the industry,” says Sherief Meleis, managing director and head of the retail banking with management consultancy Novantas. “The zombie banks out there that are barely surviving were pricing irrationally and making it tough for the rest of the industry.”

American Banker — Banks Making a Science Out of Deposit-Gathering 25th Jun 2009 To get the primary deposit relationship of a commercial customer, banks need strong cash management offerings, said Stephen Baird, a director at Novantas in New York.

American Banker — Free Checking: A Customer Favorite is Re-Examined 23rd Jun 2009 “We think this is the time for real innovation and product design on the fee side,” said Sherief Meleis, a managing director at Novantas in New York and the head of its retail banking practice.

American Banker — Who Will Be Hiring, Who Will Be Hired 19th Jun 2009 Alan Mattei, a managing director at Novantas LLC, a New York consulting firm, said banks will also have to beef up their staff to resume many projects that were put on hold during the downturn, such as information technology professionals for system upgrades.

IT News Online — Insurance & Technology Goes in Depth on Customer Retention 18th Jun 2009 Data accessibility, analytics, rules-driven workflow and process visibility can supply the capabilities insurers need to retain profitable customers, according to Dave Kaytes, Novantas, and Matthew Josefowicz, Novarica.

Bank Investment Consultant Take it Away, 2009 Please! 13th Jun 2009 Smaller banks that had no part in the subprime fiasco, what Jessiman calls “survivor banks,” have a bright future, particularly with billions in taxpayer dollars now available to help strong banks buy up weaker ones.

Bank Rate — Borrowing with personal lines of credit 8th Jun 2009 “Standards are much tighter than they were a year ago” as banks try to weed out risky prospects, says Kenneth Alverson, managing director at the New York management consultancy Novantas.

American Banker — More or Less: Branches’ Role After the Meltdown 5th Jun 2009 “The only place left [to cut costs] is reducing the very-high-cost branch network,” which typically amounts to 60% of a bank’s expenses, said Dave Kaytes, a managing director in the New York consulting firm Novantas LLC.

inside ARM — Credit Card Bill Impact on ARM Industry Uncertain 27th May 2009 “As a result of the legislation, the revenue model of the credit card companies is going to have to change,” noted Alan Mattei, managing director at Novantas, LLC, a financial consulting firm. “They're going to have to shift their models toward safer credit. They will be reducing their revenue while ...

AM New York — Taking a Swipe at Credit Firms: Some Will Lose Out in Reform Legislation 21st May 2009 Gaurav Gupta of Novantas, a Manhattan-based consulting firm, breaks down the changes: “We could see a very drastic change in their entire business model. Their profitability is certainly going to be reduced.”

The Christian Science Monitor — Trouble for federal agency that backs 44 million pensions 20th May 2009 “Over the last 20 years, there has been a growth of alternative retirement approaches, both structured and unstructured, of people putting money away,” says Wayne Cutler, managing director at Novantas, a consulting firm for the financial industry.

Financial Planning — Report: Retirement Nets Industry $183B 19th May 2009 Despite the retirement market's size, “few have a clear picture of the total value chain and who captures most of the revenues,” Novarica said in a report issued Monday.

American Banker — Report: Retirement Nets Industry $183B 19th May 2009 Despite the retirement market’s size, “few have a clear picture of the total value chain and who captures most of the revenues,” Novarica said in a report issued Monday.

The Earth Times — US Retirement Market Totals over $24 Trillion and Generates $183 Billion in Revenue for Financial Services Firms, According to New Novarica Special Report 18th May 2009 While the US Retirement Market is twice as big as the USA's annual GDP and generates $183 billion in annual revenue for financial services firms, few market participants have a clear picture of the total value chain and who captures most of the revenues, says a new special report published today by …

Best Cash Cow — Dave Kaytes of Novantas Says Rates for Banks that Failed Stress Test to Go Higher 11th May 2009 Dave Kaytes, the managing director at Novantas, a consulting company that serves the banking industry, believes that banks that require more capital will need to raise their deposit rates.

The Wall Street Journal — Impact on Consumers to Be Small 8th May 2009 … stronger banks that passed the stress test may offer lower rates. Says Mr. Kaytes: “Those types of institutions are going to take advantage of the ‘Good Housekeeping seal of approval’ and be a little tighter with their rates, while the others will be more aggressive with raising deposit rates.”

The Christian Science Monitor — Will anyone want to buy banks’ toxic assets? 6th May 2009 “Firms like Goldman Sachs have been buying distressed mortgage-backed securities and individual loan portfolios since the meltdown occurred [last fall], buying them at a deep discount,” says Kenneth Alverson, a managing director at Novantas, a financial-services consulting firm based in New York.

US Banker — Customer Satisfaction Drives Growth, Study Finds 28th Apr 2009 With public approval of the financial sector seemingly in a free-fall, should banks still care about customer satisfaction? Absolutely, concludes a recent study from J.D. Power and Associates and Novantas.

	BNET Financial Services — Banks Stumble Into Mutual-Fund Profits 22nd Apr 2009 “Banks have always been good at fixed income and cash and consumers expect them to be good at it,” says Alistair Jessiman, managing director of the bank consulting firm Novantas. “The investors’ risk appetite is swinging …

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