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Disconnect between the views of Millennials and communitybanking leaders over rate sensitivity gives handful of institutions a big opening. The post Big Banks Are Deposit Vacuums: How Other Institutions Can Slow the Flow appeared first on The Financial Brand.
And at a micro level, how do communitybanks reach a generation overwhelmed with debt that inhibits wealth? A whopping 63 percent of millennials (ages 18 to 29) don’t have a credit card, according to a survey commissioned by Bankrate and compiled by Princeton Survey Research Associates International. Get out of the office.
These are ideas that shatter the notions of conventional bankmarketing: Have a little fun at the expense of your competitors: One major bank brand uses green bicycles and a marching band to pump up its brand. It’s a creative way to communicate the idea of building wealth more quickly and creatively.
Community institutions are losing share among Millennial and Gen Z segments. The post How Small Banks Can Counter Fintech & Megabank Marketing Budgets appeared first on The Financial Brand - Banking Trends, Analysis & Insights. Analytics and first-party data can help reverse the trend.
What’s the marketstrategy? Looking for banks or credit unions. In 2015, 70% of customers preferred to open bank accounts through mobile channels. Fiserv is meeting that need for FIs and millennials. Demo: In Instagram – Example dude sees an ad for sunglasses from a bank called Genius. That’s new.
In an article on his website, Tynan pointed to a recent Harris survey that said that big banks are winning the hearts, minds and bank accounts of two-thirds of millennials. Communitybanks, he argued, aren’t so lucky. Continue reading Millennials ARE worth the effort for communitybanks.
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