More goodies from the EY 2014 Global Consumer Banking Survey…. EY asked consumers who had opened and closed bank accounts in the prior 12 months what their reasons for doing so were. Here’s what EY found: My take: These aren’t the “reasons” why consumers opened accounts. The most prevalent (if not only) reason why consumers…
EY released its 2014 Global Consumer Banking Survey recently, and found that a larger percentage of consumers cited “institutional stability” factors than did those who listed “customer experience” factors as reasons for having trust in their bank. I guess the “customer experience” isn’t that important after all, eh?
Selling out to a big bank for $117 million doesn’t exactly strike me as qualifying as a banking industry disruptor. BBVA, however, was not simply paying ~$1200 per customer to acquire Simple’s customers. BBVA paid for a brand that it would need years to build itself.
A Financial Brand article claims that the number of bank branches in the US increased by more than 250 units in 2013, while an SNL analysis claims the number dropped by nearly 1,500. Who’s right? It doesn’t really matter.
While many observers of the banking industry are critical of, or disappointed with, the speed with which the industry is moving to “new-school” banking, the industry is indeed moving towards new-school banking. Thankfully, there’s no going back to old-school banking..
Sorry that this falls on you bankers and credit unionistas, but you guys will have to provide some consumer education here. Specifically, on the differences between credit monitoring and transaction monitoring. Credit monitoring is good, and it’s needed, but it isn’t anywhere near a complete solution to protecting consumers’ card-related information.
BigDataDoofuses have multiplied like rabbits in the past few years (I think that many of them could be the offspring of a species of animals known as SocialMediaMorons). They roam the blogosphere and social media channels, dropping little BigDataPoops all over the place.
Published my first blog post seven years ago. Nearly 900 blog posts later, I think I know a thing or two about blogging (yeah, well, we all deceive ourselves in one way or another about a lot of things). If you want to become a better blogger, you can take the following advice (or not — who am I to say that you’ll become a better blogger by doing what I tell you to do?)
Slate’s article on America’s Microbank Problem was a hack piece of journalism, written simply to call attention to the author and publication. There is one argument I can see making to justify the claim that there are too many banks in the US: Supply outstrips demand.
The marketing pundits tell us personalization and customization is key to successful marketing. One-to-one marketing, they call it. Recognition that every customer is different, and should be interacted with differently. If I had my own business, I know how I would do it: I would ask each customer who s/he works for.