Ease of Switching in Fintech Era Jeopardizes Loyalty to Banks
Primary institution satisfaction is strong, but new data shows switching activity is rising as people spread their banking business around.
Primary institution satisfaction is strong, but new data shows switching activity is rising as people spread their banking business around.
As a record number of bank branches are shuttered, those remaining are reimagined for greater efficiency and improved experiences.
The fast-growing freelance worker market could be a boon for financial institutions, but so far has been largely untapped by the industry.
A big surprise is the willingness to offer crypto services. But the unwillingness to reconsider branch dependency could be a millstone.
Banking prompts many questions, plus people read blogs titled 'Questions your bank doesn't want you to ask.' Preparation is key.
Many digital money management functions that make fintech and neobank offerings so popular still don't show up on most mobile banking apps.
Banks and credit unions have readily embraced 'digital transformation,' but few understand what it entails beyond customer-facing apps.
Innovative minds in other industries have come up with terrific ways to improve customer experience that banks and credit unions can borrow.
So far, most financial institutions' efforts to provide value-added guidance have failed. Five changes are needed to turn things around.
Fintechs are making deep inroads in the small business banking market, including lending, forcing banks to up their game.
Free business checking offered with Green Dot Bank serves as a tie-in for firms using QuickBooks and as part of a 'starter kit' for future subscribers.
Gen Z's attitudes toward finance have shifted since the advent of Covid. Banks and credit unions would do well to understand what's changed.
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Its new flagship branch, retail pullback in Asia, wealth management focus and search for a Google Plex replacement are pieces of the puzzle.
Independent contractors represent a fast-growing market, and millions of them need bank accounts. The right digital features are key.
Wait, wasn't Gen Z supposed to be 'debt averse'? New research paints a more nuanced picture as new card accounts surge.
Banks and credit unions must evaluate marketing, branch and lending strategies as the Attorney General targets redlining in mortgage markets.
Reflecting the massive explosion of neobanks and fintech providers, more people now use digital banking solutions than they do social media.
Selective network expansion can still make sense but banks must prepare as stimulus funds impact gets wrung out and reality returns.
Seeking long-term large deposit relationships Lexicon Bank balances compliance duties with marketing itself as a home for poker professionals.
Signs point to stricter rules for how nonbanks can use banking terms in their apps and marketing, complicating banking-as-a-service deals.
Startups surged during the pandemic, and like their mostly young owners, they have digital DNA. Are banks and credit unions ready for them?
Getting brand right is critical because it is the one thing that sets banks and credit unions apart in a marketplace of similar products.
CSI surveyed community bankers nationwide to learn their investments and goals. Read the interactive research report for the trends and strategies for success in 2024.