New Product Development – A Big Challenge and a Potentially Big Reward

more+
less-

After the Great Recession began, most financial institutions focused on survival and not on innovation. Now that the economy seems to be stabilizing, thoughts have begun to turn to new ways to increase the top line. New Dodd-Frank Act restrictions make this ever more difficult, but successful bankers continue to explore new product opportunities.

The development of a new product for a bank or other financial institution typically requires careful coordination among the bank’s finance, marketing, systems and legal areas, and usually requires buy-in from senior management and the board of directors. The following are some of the areas a bank (and its holding company) should consider before proceeding.

Originally published in Western Independent Bankers’ Western Banker magazine on May 30, 2014.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  Banks, Dodd-Frank, Financial Products, Great Recession

Published In: Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Lane Powell PC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »