Banks and credit unions that get past negative stereotypes will find opportunities to help young adults as they build business.
While low-income customers, like anyone else, can be turned off by bank fees, making those fees less unpredictable can help keep those customers with the bank.
Once regarded as a necessary but decidedly unglamorous back office operation, Collections has emerged as a tool banks can utilize to retain customers.
Segmentation toolkits are a helpful aid to bank marketers in improving their outreach to the most desirable customer segments.
Customer behavior has changed in the Great Recession and customer analytics need to keep pace.
Retail banks face many challenges in their attempts to focus on high-profitability customers, including: what to do about the other 80%? Technology such as mobile and self-service can help.
Singapore’s OCBC Bank reaches out to Generation Y with a youth-oriented branch and marketing message.
Advances in analytics are finally bringing the promise of ‘know-the-customer’ segmentation to fruition.