Webinar – New Competition: Preparing to Compete for Today’s Checking Consumer
Please join us on Thursday, November 6, 2014, as Bob O’Meara, Vice President of Research, examines Raddon’s fall 2014 national consumer research on checking demand and shows the role non-bank alternatives are playing for young and old consumers alike and examines how these new competitors will impact your financial institution.
PayPal Does Not Have a P2P Payment Service Advantage
With the announcement of its spinoff from parent eBay, as well as its noted exclusion from Apple Pay, PayPal has been a hot topic in the news recently. For years, senior financial services executives have fretted about the threat that PayPal posed to banks and credit unions.
Social Media Remains an Enigma
The popularity of social media is undeniable. Millions of people are accessing such platforms to interact and view content of interest. Just five years ago, the primary function of social media was community building. Today, social media has evolved to include customer service outreach, brand awareness, and new customer lead generation.
Customer Loyalty Is Not What It Used to Be
Customer satisfaction and loyalty are now top goals for many financial institutions, in large part because conventional wisdom suggests that higher degrees of satisfaction and loyalty will translate into new business opportunities (including a greater share of their customer’s wallet and referrals). However, the recent demographic shift to digitally-literate younger customers now poses questions with respect to the industry’s belief.
Are Your Customers Being “Served”?
In October 2013, American Express “re-launched” Serve– a prepaid debit card purportedly targeted towards the financially underserved. On June 4, 2014, American Express premiered its short movie Spent: Looking for Change – a 40-minute narrative focusing on those shut out, or at the margins of the traditional banking system.