thefinancialbrand

Innovation Driving More Consumers to Switch Banks Now

The reasons why consumers change banking providers are changing, new data shows. Women, the segment most inclined to switch, say that better digital banking services are the biggest driver of their decision. However, branch locations and fees also remain important.

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Personalized Customer Experiences Are the Only Way Banking Brands Can Differentiate

The days are over when banks and credit unions could compete on product or price. Today, the best way to differentiate a brand is through hyper-personalized financial recommendations and marketing driven by data and advanced decision tools. Subscribe to The Financial Brand via email for FREEThe number of branches in the U.S.

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Umpqua Bank Doubles Down on Its ‘Human Digital’ Strategy (Here’s Why)

Umpqua Bank, one of the banking world’s most foremost pioneers, is going all-in with a system wide rollout of its revolutionary ‘Go-To Banker’ concept. Combining mobile technology with specially trained associates, the program lets all customers – regardless of their account balance – choose their own personal financial expert.

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The Massive Untapped Sales Opportunities of Mobile Banking Users

The mobile banking consumer is one of the most active segments, yet financial institutions usually do an inadequate job of onboarding and cross-selling this base. The result can be seen in measures that show a low level of mobile engagement beyond balance inquiries money transfers on mobile devices.

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Balancing Millennial Branch Preferences and Digital Banking Expectations

Knowing what’s really important to consumers is critical to acquisition, retention and cross-selling in the banking industry. But Millennial stereotypes frequently fool financial marketers, muddling their marketing strategies with faulty assumptions. Turns out they love branches just as much as Gen X and Baby Boomers.

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Digital Banking Transformation: Where Should You Start?

Many organizations are overwhelmed by the scope of change required to become a digital bank. Instead of being stuck in neutral, here are some ideas that can be implemented relatively easily, increasing revenue, decreasing costs and improving the customer experience.

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What’s the Best Mobile Payment Platform: Zelle, Venmo, Square or Apple Pay?

Digital wallets and P2P payments are fast becoming table stakes for banking providers that want to remain relevant with today’s digital consumers.

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Digital Is Critical for Banking Providers in the Small Business Market

Community banks and credit unions must confront some uncomfortable truths about their commitment or lack thereof to digital transformation. They are falling way behind larger banks, which is slowly suffocating their relationships with small business banking clients. Big banks dominate the small and mid-size business market.

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Financial Institutions Aren’t Prepared for the Digital Revolution

The world is in the process of a Digital Revolution, where everyone on the planet has the ability to talk, trade and transact with anyone else. This transformation will erode boundaries and promote inclusion.

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Innovation in Banking: Killer Ideas? Or Idea Killers?

What separates financial institutions that cultivate killer ideas from others who ruthlessly crush the creative spirit out of their employees? Why do most banking providers struggle with innovation wh

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