JD Power survey finds Minnesota big banks lack customer touch

U.S. Bank ranked 11th in the Midwest for customer service and was the top-ranked big Minnesota bank in the region, according to the 2017 J.D. Power annual U.S. Retail Banking Satisfaction Study.

The national survey was based on responses from more than 78,000 retail banking customers of 136 of the largest banks in the United States.

In the Midwest region, Wells Fargo, the Twin Cities' largest bank by market share, was ranked 18th. Wells Fargo was hit by a consumer account-opening scandal last year that cost the bank hundreds of millions in penalties and untold reputational damage.

Wintrust Community Bank, based in suburban Chicago, was ranked first among the 20 largest banks in the Midwest. It was followed by First National Bank of Omaha.

Associated Bank of Wisconsin, which has a large Twin Cities presence, was ranked fifth by surveyed consumers.

BMO Harris in the Twin Cities was ranked 15th, followed by Bremer Bank (16th) and TCF Bank (20th).

Bob Neuhaus, financial services consultant at J.D. Power, said strong digital and in-office experiences are key to consumer appreciation.

"Digital banking is now the most frequently used channel with rapid growth in mobile banking," Neuhaus said in a statement. "That said, consumers still rely on branches in situations when they are opening accounts, seeking advice or in need of special assistance."

GovDelivery founder strikes again

GovDelivery founder Scott Burns, who left after the $153 million sale of the St. Paul-based company late last year, is now leading a new software outfit.

Burns and veteran Twin Cities technology marketer Chip House have joined with an Indianapolis venture capital firm to launch Structural, which produces employee management software.

Venture firm High Alpha, based in Indianapolis, has invested with partners about $1 million. High Alpha, described as a "leading cloud-venture" laboratory, has tested the software with clients for a year.

Burns has signed on as St. Paul-based CEO. House, who will be chief marketing officer, said he and Burns also have made an unspecified investment in the firm.

Structural will maintain an Indianapolis office as well.

Structural is described as a system that lets management "find and nurture talent within their organization, maximize team effectiveness and leverage their current HR systems to create new value and growth." In other words, keep employees engaged and growing in a talent-poaching environment.

The early customers include large professional service providers, law firms and staffing agencies. Employees use Structural's platform via mobile devices, helping them highlight their skills, provide feedback and build deeper connections with co-workers.

Burns, 41, founded GovDelivery in 2001. The 250-employee firm was sold to Vista Equity Partners for $153 million and merged late last year with Denver-based Granicus, another firm that provides electronic communications between governments and constituents. House, 51, was chief marketer at Minneapolis-based Four51 and before that was at Indianapolis-based software outfit ExactTarget.

Program May 18 on doing business in Africa

There is still space available for the African Business Forum Thursday at the University of Minnesota's Carlson School of Management. The featured speakers are Carlos Dos Santos, ambassador to the U.S. from Mozambique, and Jeff Sturchio, chairman of the board of the Corporate Council on Africa, the leading U.S. business council focusing on Africa.

A panel of Minnesota business people will include Raj V. Rajan, vice president of sustainability at Ecolab; Molly Guy, global health program leader with Medtronic Labs in Ghana and Kenya; Bradley Buck of Land O'Lakes, and Asratie Teferra, chief revenue officer of YAZMI USA.

Exports from Minnesota to Africa increased to $185 million last year, up from the year before. China has emerged as Africa's biggest business partner.

A Brookings Institution paper in 2015 said: "Chinese engagement in Africa has led to faster growth and poverty reduction."

Minnesota also has struck a number of nonprofit education and cultural relationships over the years.

Some focus on African self-development through outfits such as Books for Africa, Land O'Lakes and St. Mary's University of Minnesota in Kenya. Also helping in that arena is Minneapolis-based Partners in Food Solutions, supported by technical volunteers from General Mills, Cargill and two European food and equipment concerns.

For more information on the event, go tomn.gov/deed/business/exporting/events.