Is Gen-Y The Best Target for Mobile Banking Services?
When marketing mobile banking, banks and credit unions tend to focus all their energy on Gen-Y. But there's a juicier segment to target.
When marketing mobile banking, banks and credit unions tend to focus all their energy on Gen-Y. But there's a juicier segment to target.
72% of of adults under age 30 who are shopping for checking accounts are also in the market for other banking products.
You'd think consumers who go for bank promotions might be your stereotypical deal-seekers and bargain hunters. But you'd be wrong…
In the last year, the percent of smartphone owners making mobile payments grew by 36%. That has major implications for mobile banking.
Research based on consumers' actual shopping patterns reveals that mobile bankers are demanding, and expect an array of modern features.
When consumers look for new a bank, they consistently pick institutions with branch and ATM locations near where they work or live.
Are reloadable debit cards a viable alternative to checking accounts? Or are they a solution for the unbanked? Here's what the data says.
The banking industry is losing its stranglehold on consumers’ cash management tools, and mobile P2P payments are one of the key battles.
48% of consumers looking for a new checking account eliminate at least one institution. Why? Four out of five cite a previous bad experience.
44% of all shoppers looking for a new checking account want email alerts. The pickier the shopper, the more they want email alerts.
Fee sensitive shoppers choose small financial institutions, while big banks are winning the word-of-mouth referral race.
Checking account features that make banking more convenient and accessible will continue to gain traction in 2014… and that means mobile.
Manual tasks across channels is costly. And while AI is hot, there’s a simpler way to bring efficiency that many bankers have overlooked.
Read More about The New AI: A Banker’s Guide to Automation Intelligence
In 2013, over 500,000 consumers visited FindABetterBank to shop for a new checking account. Here are 10 trends to wrap-up the year.
Most consumers can imagine they’ll bank 100% digitally in the future, even those who love branches and check writing.
The banking industry usually segments based on income, but age is a better predictor of checking account choices, behaviors and profitability.
Financial shoppers that aren't particularly interested in any specific account features are most likely to choose a regional bank.
Financial institutions offer checking account features that few consumers care about. All people really want is mobile banking and free ATMs.
Because online/direct banks don't have any branches, consumers assume they must have better mobile banking.
Reloadable debit cards are an alternative for those banking consumers who don't write checks, and they look like a standard checking account.
Adults under 30 are less likely avoid bank branches than older consumers, and aren’t as interested in opening accounts online.
One in four women over the age of 50 say branches are their primary concern when switching banks. How should financial marketers respond?
Small institutions are losing the battle for young consumers even though their checking accounts are just as good as those at big banks. Why is that?
Gain centralized access to the credit bureaus and 20+ alternative data sources. Leverage advanced analytics to optimize marketing campaigns and loan decisions.
Read More about Improve Your Business Outcomes Through Data & Analytics