Lou Carlozo
Jun 27, 2019

Much has been said about millennials (those born between 1981 and 1996) and how they don’t seem interested in traditional banks—a curious state of affairs, given that people need and use banking services for life. What’s more, millennials in 2019 have abundant financial adventures ahead as they start families, buy homes, invest for retirement and build credit […]

We live in an age of “big data” but sometimes this amounts to data overload.

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Working with “digitally-savvy” mass affluent customers, particularly on wealth management issues, requires moving away from a branch-centric service model to one that leads with digital tools and includes some personal interaction from a skilled investment advisor.

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Many banks are devoting an increasing amount of their marketing and technological resources to court the mass affluent, who represent 13 million households with a total income 50% higher than the U.

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Financial institutions are facing extreme polarity in the financial needs and wants of the baby boomers, on one side of the spectrum, and the millennials on the other.

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The desire for growth is leading bankers to renew their focus on capturing the mass affluent population.

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“What do you mean I have to pay $120 to check my luggage? I’ve been using this luggage without having to pay baggage fees for a long time.

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In the throes of the credit crisis five years ago, who would have guessed that Collections would turn out to be one of the most ardent keepers of the customer experience flame? But it’s true.

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Want to be able to hone in on what product your best business customers are likely to want next and which prospects will be the most profitable to target? Consider utilizing a “segmentation toolkit,” said Susan Brown-Monforte, senior vice president and marketing group manager for San Diego-based California Bank & Trust.

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A friend reports on a recent and rare visit to his bank branch: “I felt like I was in a time warp.

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In the wake of recent regulatory restrictions on fee income and the continuing sluggish economy, financial institutions are increasingly targeting certain high-profitability affluent and mass affluent customer segments.

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