Millennials switch banking providers more than any other segment, but who will they ultimately stay with when the music finally stops?
20% of 18-24 year-old Millennials say they use a credit union as their primary financial institution, but that number is cut in half for Millennials ages 25-34.
People expect more from banking providers than ever before. Yesterday's perks are today's table stakes. Banks and credit unions must ante up or face the consequences.
When people get frustrated with their banking provider, few actually make the switch. What can you do to overcome inertia and indifference?
To find success with cross-selling, retail financial institutions must engage consumers digitally and attack people's switching triggers.
The mobile channel continues to gain ground with consumers, but satisfaction levels and word-of-mouth referrals are all linked with the branch experience.
Consumers remain frustrated with megabanks, and those ready to switch are putting $649 billion in deposits and over $30 billion in revenues in jeopardy.
40% of those shopping for a new bank or credit union are under 30 years old. So what matters most to Millennials who want to switch?
31 million consumers who control 41% of the deposits in the U.S. are itching to switch banks. Who are they? Moneyhawks.
If your bank or credit union doesn't offer online account opening just yet, here are some ways you can still provide a similar level of convenience.
Consumers who don’t manage their bank accounts are significantly more likely to have a messy split with their financial institution.
The importance of mobile banking capabilities helped push the bank switching rate up by more than 40% in the past six months.
Countless surveys ask banking consumers about switching triggers, but people's behaviors don't align with their responses… or reality.
Banks in the UK are testing a bold new ‘Seven-Day Account Switching’ process. How is the experiment working out? It depends on who you ask.