Cognizant study finds financial institutions can strengthen relationships by focusing on customers’ longer-term, ‘slow money’ concerns.
Analyzing credit card customers using enhanced credit data can help improve the efficiency of marketing outreach to those customers.
Despite the stereotypes of Millennials going all-digital for their banking needs, jumping to conclusions about generational change can lead bankers astray, according to BAI Research.
Bankers can improve their capabilities in profitability measurement if they learn to utilize funds transfer pricing analysis to its full potential.
When it comes to banking relationships and attitudes towards money, Millennials resemble previous generations more than you might think.
Financial institutions that wish to attract millennials for wealth management services need to start with their own millennial employees, utilize robo-advisors, prioritize mobile and offer video collaboration.
As the Millennial generation increases its economic clout, banks need to adapt strategies that enable them to profitably attract, serve and grow with these new customers.
In an omnichannel environment, banks need to move from strategies that 'pull' customers through points of interaction to those that actually anticipate and then meet customer needs.