It’s Time to Kill Free Checking

Why would consumers show more interest in a fee-based account from Amazon than a free account? One reason is surely the value-added services bundled in. But there’s another reason: Consumers have learned (the hard way) that a free checking account isn’t really free.  As one bank customer, commenting online, put it:  “The issue isn’t wanting…

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The Threats to Checking Accounts

person using laptop computer

Over the first half of the 2010s, the number of checks written in the United States declined from 41.9 billion to 17.1 billion — a nearly 60% drop. Bad news for checking accounts, right? Wrong.  According to the FDIC, the percentage of U.S. households without a checking account dropped from 8.2% in 2011 to 7% in…

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Use Good/Better/Best for Checking Success

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Shop for a new car, a cell phone plan, a cable TV package, or a major appliance these days, and you’ll find one consistent and very successful product strategy: Good/Better/Best (GBB). GBB is a three-tiered strategy conceptually defined as follows: Good: A basic level of value for price-sensitive customers. Good offers a minimal amount of…

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Can You Honestly Say Your Checking Account is Modern?

man on cell phone

Case in point: the rapid adoption and use of smartphones in today’s world have made consumers aware of two realities:  Those devices break. Bad people are misusing other people’s personal data.  What’s your checking products doing to help your customers/members with these realities? If the answer is nothing, here’s a few research points to start…

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Is Your Checking Account Worth Paying For?

To thrive in today’s financial marketplace and stand out from the pack, you must deliver checking products with benefits that consumers are demanding, many of which they are already buying from other companies, and your competition isn’t providing.  To get started, take a look at what consumers are already using — and, in most cases,…

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Give your FI a competitive advantage — even against the megabanks

Does investing in customer experience improvements really create an economic return or a competitive advantage? Before you can answer that question, you must answer two others:  How much will it cost to be the industry leader in customer experience? What competencies or capabilities will be required to achieve and maintain that leadership position?  In their…

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Serve Where Customers Expect You to Be

various app screens from Lemonade and Dave

When my 15-year-old daughter needs money to chip in for a car-owning friend’s next fuel fill-up or dinner out with her boyfriend, she doesn’t ask if I can swing by the ATM for her. She doesn’t ask to go to the bank with me, nor does she take checks. Heck, I don’t even think she’d…

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Don’t Under-estimate the Megabank Threat

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Mike Branton, Partner at StrategyCorps, discusses how to compete with the megabanks during these uncertain times in his article, Don’t Under-estimate the Megabank Threat, featured on Bank Director, an information resource to the financial community since 1991. Learn about the mindset of a couple of megabanks about their plans for increasing their consumer marketplace dominance.

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StrategyCorps and ZSuite Technologies Announce Strategic Partnership

BRENTWOOD, TN (June 2, 2020) – StrategyCorps, a company that provides nearly 350 banks and credit unions with profitability analysis, white-labeled reward products, and mobile banking solutions, has partnered with ZSuite Technologies, a company that offers a suite of solutions that provide financial institutions tools to offer to property managers and landlords in their market.  Property…

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