There’s no denying that driving mobile payment volume is important to Apple. But there is another critical success metric for Apple Pay 1.0.
In Gallup’s latest survey of consumer sentiments towards various industries, banks registered a net positive score for the first time since 2007. Banks dropped into negative territory in 2008, and then plummeted to the negative mid- to high-20s from 2009 to 2012 (apparently, bankers and their mothers were surveyed, so banks managed to get a few positive votes). Over the past two years, however, banks have gained an impressive 36 points to rise from -28 in 2012 to +8 in 2014.
The American Bankers Association released the findings of its 2014 survey regarding bank channel preferences. A pymnts.com article titled Mobile’s Impact on Bank Branches reported that 21% of those polled selected the branch as their most preferred banking method, up from 18% in 2013. My take: The title of the article is wacky, and the ABA’s explanation of what’s going on is incorrect.
We’re going to survey like it’s 1999. According to an article published on CBS News‘ website: “In a poll conducted for the ID security firm Intercede, 48% of U.S. consumers surveyed said they would never use bill payment apps, and 44% said they would never use mobile banking services. One in five said they did…
Don’t bother looking it up. Hyperopia is a term that refers to far-sightedness–for the purpose of this blog post, it’s important to know that it’s the opposite of myopia. Myopia being the term used by Kevin Tynan, CMO of Liberty Bank for Savings, in an editorial in American Banker titled Banks Have a Case of…
The key to improving financial literacy is providing relevant information in the right context (when consumers have a decision to make), and that the key to successful content marketing is providing relevant content in the right context (when consumers have a decision to make). Financial education IS content marketing.
Why would I think CUs don’t get their fair share of the market? Because of the never-ending stream of research that shows that credit unions: 1) have higher levels of customer satisfaction than banks; 2) have earned higher levels of trust among consumers than banks; and 3) offer better rates and fees on deposit and credit products than many banks–but don’t have 100% market share.