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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Man and woman walking holding hands

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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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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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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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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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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Couple talking to a bank representative

Recently I was reading an article from Chris Nichols, Chief Strategy Officer of Winter Haven, Florida-based CenterState Bank, entitled Public Perception of the Cost of Checking. Nichols shares how CenterState interviewed 200 randomly selected potential customers about what they thought about the bank’s pricing and value of its checking accounts. The pricing ranges from a fee of $5.95…

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