For all the stress on relationships, banks rarely surpass the promises in their ads. Change begins with getting to the heart of consumers’ lives.
Data analytics can help improve a bank’s culture in the areas of leadership transparency, employee accountability and team alignment.
Banks that wish to be competitive in small business lending need to invest in systems that gather more customer data and enable faster decision making.
Banks that wish to improve their customer service must ascertain customer needs directly from those customers, provide non-filtered feedback to the CEO and generate a written plan that all employees can easily understand.
Leveraging mobile apps for marketing purposes requires focusing on knowing your customer, creating an individualized experience and utilizing content marketing.
The banking industry needs to join forces in a collaborative effort to build financial health for consumers.
While nearly every bank would like to switch its customers to paperless statements, deciding on the correct pace of the transition requires working through three key decisions.
Rather than blindly offering rewards to customers, financial institutions need to use loyalty programs to build brand loyalty.