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Another case arises when consumers have high interest rate credit card debt. Anchoring on credit card disclosures is very powerful. Initial experiences with the new credit card disclosures shows that borrowers are anchoring on the minimum payment figure, and on occasion paying less each month than they otherwise would.
As of this publication, LinkedIn showed active listings for a UX design alchemist at Critical TechWorks and a product and solutions development alchemist at Together Abroad. Tax Wrangler. “Digital prophet” was the calling card of David Shing, the Australian thought leader who took on the role at AOL in 2011.
Financial institutions are in an enviable position to profit from this consumer behavior by gamifying debit/credit cards and mobile app usage. While MasterCard and Visa have run year-end card purchase sweeps off and on during the past 20 years, few banks or credit unions have mounted serious long-running usage-based games.
With $5k in savings, the top 3% tier only nets $12/month before-tax (or $9 to $10 after-tax). However, for the top savers that bank is targeting, e.g. those with $50k in savings, the extra yield (130 BP over other high-yield accounts) amounts to a meaningful $600 to $700 annually (before tax). Digital Banks for Small Businesses.
” SuperMoney also hosts a wealth of personal financial information on topics ranging from auto insurance and business credit cards to tax planning and wealth management. The post SuperMoney Brings a Kayak-Like UX to the Online Borrowing Process appeared first on Finovate. Magazine’s 2015 ranking.
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