Even before the coronavirus, there was a passionate renewal of relationship banking’s importance, with a specific focus on primacy — primary versus non-primary households. What’s evident is that all relationships are not created equal: Half your customers see your FI as their bank and about half don’t.

It’s the curse of free checking. Free worked for years, but it moved a lot of unengaged customers from bank to bank. That made it even harder to cross-sell services to grow and retain each household, StrategyCorps partner Dave Crook wrote in the most recent issue of Bank Director.