It is becoming easier and easier for consumers to assemble their own portfolio of banking services from multiple institutions and providers. How do you convince customers to remain loyal, and concentrate more of their profitable business with your financial institution?
The average consumer is spoiled with choice when it comes to banking services. They are “overbanked” in that they have access to more services and products than they need. A growing customer banking segment, whom we call the “überbanked”, actively spread their banking business across a wide range of institutions, fintech players, and alternative service providers – seeking out the best offer or deal.
Re-engaging this consumer, responding to their needs, and encouraging them to concentrate more of their profitable business with your financial institution should be high on your priority list in 2017.