For our physical health, we have doctors and personal trainers. For mental health, therapists can help. But do you have someone to assist you with your financial well-being? As digital capabilities continue to improve, the need for convenience has largely been met. But what about financial advice? Most institutions offer solid transactional services, but providing […]
How To Improve Your Bank Customers Financial Health Read More »
In our recent white paper, How Banks Can Leverage a Walletless World, we discussed how new entrants in the financial industry, including start-ups and tech giants, are threatening banks by offering services in areas in which clients are being underserved. In this blog, we will discuss how banks can go beyond a simple brainstorming session and
Alternative Ideation Methods for Banks Read More »
As 2018 comes to a close, it is time to look ahead to what will influence the banking industry in 2019 and your goals for the new year. Do you have a plan for key strategic initiatives that you want to accomplish? Major trends of digital transformation and customer centricity will continue to be relevant,
The Three Biggest Opportunities for Banks in 2019 Read More »
Banks have been slow to adopt what is often referred to as content marketing, or content strategy – but now that the return on investment is becoming clear, it’s important for financial institutions to catch up. What exactly IS content strategy, and why do banks need to make this investment? Content strategy is the planning,
Why a Content Strategy for Banks is Important Read More »
In today’s highly competitive and quickly-changing banking industry, the pressure is on for banks to prove their relevancy to their customers and outperform their competition. Banks today understand the critical need to connect with customers emotionally and to develop services to fulfill their unmet needs. And yet, innovation can be a difficult process to nurture
How Financial Institutions Can Drive Innovative Culture Read More »
With so much access to information these days, decisions can be hard. We are all generally more informed, but there are also more options to consider, opinions to hear, and claims to be validated. Simplification can help address this issue, and many industries have leveraged it in their branding and business strategies in order to
How to Simplify the Banking Experience for Customers Read More »
When we meet someone new, their appearance, voice, and behavior quickly form our first impressions. As we interact more with that person, their traits and flaws become clearer. So, if your bank was a person, who would it be? This anthropomorphic question can help clarify your brand identity. It can also help your customers relate
Defining Your Bank’s Personality with the Big Five Read More »
The bitcoin bubble might be deflating, but that doesn’t mean banks can afford to ignore the larger growth of cryptocurrencies. Even if they’re not the world-changing disruptor that some advocates trumpet, cryptocurrencies at Bitcoincenter are changing the way that consumers think about currency, investment, and the influence of blockchain on our financial system. Customers are
How to Leverage the Notoriety of Cryptocurrencies Read More »
The Financial Brand Forum is one of the most attended banking conferences in North America. It is a leading event globally, as it focuses on current and future trends in banking. This year’s conference, held in May, was attended by more than 2,000 banking professionals, in addition to more than 50 keynote speakers covering all
Digital Transformation Checklist for Banks Read More »
Seniors are about to take over the world. Between 2025 and 2050, the number of seniors on the planet will double, and for the first time in history, there will be more people over 65 than children under age 5. How this massive demographic change will impact us is not entirely clear, but industries need
What Retirees Need from their Banks Read More »
2016 was the year an unprecedented shift happened in Canada’s demographic make-up: for the first time in recorded history seniors outnumbered people under 14 – and the US is likely to follow suit in the next 5 years. By 2050, seniors who may heed the help of professionals like Burzynski Elder Law, will make up
What Retirees Want from their Banks Read More »
Most banks claim they put the customer first – but who is really delivering on this claim? Every year J.D. Power, Forbes, and industry publications like The Financial Brand research which banks are doing the best job at putting consumer’s needs first. They don’t always agree on which bank is top of the list, but common
Major Banks Excelling at Customer Service Read More »
For many years, banks have contributed to established charities, sponsored artistic events and institutions and, in many cases, created their own foundations or charities. However, Millennial and Generation Z consumers are less likely than previous generations to view these efforts as being authentic, and they may have a point. These contributions, many of which come with tax benefits and
The Future of Corporate Social Responsibility Read More »
When customers think of your bank, does it have a narrative? Does it stand for something? If not, it may lack a compelling brand story – that means that it’s becoming lost in the competitive financial institution landscape. Not standing out can be a problem, especially when banking is a service that often has a reputation as
Does Your Bank Have a Compelling Brand Story? Read More »
Our recent stealth attrition study identified that customers today are more willing to switch banks or consider purchasing a new service from a competing bank. This behaviour is exacerbated by increasingly easy account opening and on-boarding processes thanks to technology and improved back-of-house systems. With so many elements to consider when it comes to growing your bank’s
Rating the Curb Appeal of Your Bank Branches Read More »
Banks have been offering ethical funds as part of their investment offerings for some time now. However, the same way that packaged goods companies have been criticized for greenwashing, (using language that suggests environmentally-friendly qualities that a product does not actually possess), banks are also going to find themselves under increasing scrutiny when it comes
Embrace Social Responsibility with New Ethics Standards Read More »
The customer journey is one that starts well before customers open an account, and continues, repeats, and ideally builds loyalty throughout the relationship. Certain touch points along that journey can become routine experiences or signals that customers come to expect and associate with the brand. Pleasant rituals can help to build stronger relationships with consumers and repeated
Three Great Ways to Welcome Branch Customers Read More »
We recently launched a new branch design in Beijing for CZ Bank, which included a cute and entertaining robot with was cartoon-like features and a child-like voice. The purpose of the robot was to serve as a secondary greeter when the branch was extremely busy, and although it functioned as planned, its role was more to
Meet Erica, Your New Robot Banker Read More »
The biggest challenge in any industry, from foodservice to banking, is the fact that customer loyalty is always diminishing. With new start-ups, disruptive platforms challenging the status quo, and aggressive competitors who want to win at any cost, the quest for customer loyalty has never been more difficult. It’s not that the factors or metrics
What Drives Customer Loyalty? Read More »
If you had a problem with your mortgage, which of these experts would you trust for advice? A) A bank advisor; B) a television personality; C) your parents; D) the internet. The answer might seem obvious, but you’d be surprised how many people would have trouble figuring out the solution. We’ve talked before about the advice
Who Customers Turn to for Financial Advice Read More »
