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This profile was last updated on 3/25/16  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Terence Roche

Wrong Terence Roche?

Principal

Phone: (480) ***-****  
Email: t***@***.com
Cornerstone Advisors , Inc.
4725 N. Scottsdale Road Suite 250
Scottsdale , Arizona 85251
United States

Company Description: Cornerstone Advisors was formed by some of the financial industry's most respected strategy and technology consultants. Our goal is to continue building an advisory...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • BA
    University of California at Berkeley
182 Total References
Web References
There are 2 big reasons for ...
www.bankrate.com [cached]
There are 2 big reasons for this, says Terence Roche, a partner at Cornerstone Advisors, a financial services consulting firm:
...
"Where you've really seen an expansion is call center and online support," Roche says, including through social media channels such as Twitter and through online chats on their websites.
...
Banks that depend heavily on consumer banking are particularly likely to extend their hours in order to attract and keep customers who like to bank at a branch but can't make it between 9 and 5, says Roche. Those that specialize in catering to businesses? Not so much.
"The bigger the retail focus, the more you expand hours," Roche says.
There are 2 big reasons for ...
www.bankrate.com [cached]
There are 2 big reasons for this, says Terence Roche, a partner at Cornerstone Advisors, a financial services consulting firm:
...
"Where you've really seen an expansion is call center and online support," Roche says, including through social media channels such as Twitter and through online chats on their websites.
...
Banks that depend heavily on consumer banking are particularly likely to extend their hours in order to attract and keep customers who like to bank at a branch but can't make it between 9 and 5, says Roche. Those that specialize in catering to businesses? Not so much.
"The bigger the retail focus, the more you expand hours," Roche says.
Bill pay will be obsolete within ...
www.cutimes.com [cached]
Bill pay will be obsolete within five years, according to Terence Roche of Cornerstone Advisors.
Terence Roche - “Shatter ...
www.gonzobanker.com [cached]
Terence Roche - “Shatter Me� by Linsdey Stirling (featuring Lzzy Haleby)
...
Big thanks to Terence Roche and Jim Burson for their contributions to this article.
...
Terence Roche In the world of issuers and card brands, there is now an innovator asking to take “just one thin wafer� of interchange revenue. Where does it go from here? No one really knows. Cornerstone Founder Terence Roche concluded, “It seems to me like the big question is whether Apple plans to disrupt that at some point.�
Bill pay, a staple of many ...
www.cutimes.com [cached]
Bill pay, a staple of many credit union online banking sites, will be declining and even obsolete within five years, according to Terence Roche of Cornerstone Advisors, the Arizona-based consultants to credit unions and community banks.
Roche made that argument in a recent blog entry and subsequent interview with CU Times. "I don't mean to say bill pay will necessarily disappear in five years, only to point out how uncompetitive it is," he said.
Roche built his case on three foundations: The cost of bill pay relative to other payment strategies, the smaller volumes represented by bill pay, and the growing number of less expensive and easy alternatives.
First, costs. Bill pay costs credit unions five to 10 times more than other payment methods, according to Roche, a cost which bill pay providers initially justified on the grounds of the service's recent entry into the market and the additional service bill payment providers offer.
But Roche pointed out that the circumstances-a lost check, the need for dispute resolution, etc.-that used to justify the extra expense have become quite rare.
What usually happens with payment systems is their costs drop as they become commodities over time, Roche explained. "That hasn't happened so far with bill pay and I am not sure I see it happening anytime soon," he added.
Second, volume. Roche pointed out bill pay transaction volumes do not stand out, even against a slowly but steadily shrinking check writing world. According to Roche, consumers used bill pay 2.7 billion times in 2013, but that's compared to 18 billion checks written in the same year and 20 billion ACH transactions initiated. The bottom line, Roche maintained, is despite its ubiquity, bill pay still came in a distant also-ran behind the other payment methods in terms of volume.
Third, ease of use and popularity. Middle age consumers that have the money now tend to favor bill pay they use at their institutions' online banking site. But younger generations favor mobile payments or biller-initiated ACH transactions, debit or credit card payments.
"My point was a growing number of different payment methods are coming up, all of them less expensive than bill pay and many of them easier to use or more profitable to the consumer," Roche said.
An informal survey of this reporter's friends and neighbors bore Roche out.
One, Anna, a 30-something who declined to use her last name, reported having written checks to pay bills until a couple of years ago when she began using her bank's bill pay service. And she still does for some things. But now she also sometimes goes to the biller's website to initiate payment.
"They credit my payment immediately that way," she said, "so if I need to, I can hold off on paying that bill until that day.
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