The Rise of the Multi-Account Consumer

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Research shows that having more than one checking account has become more popular these days. This is true especially among Millennials, of whom 42% have two or more accounts. In fact, among consumers who consider a digital bank to be their primary bank, 42% have more than one checking account, and half of them have…

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The Big Tech Threat (Opportunity?)

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In November 2019, Google announced that it was going to launch a checking account. The announcement elicited the typical frenzy in the press about how the Big Tech company and its fellow Gigantosauruses were going to put traditional banks out of business. But — surprise, surprise—that wasn’t the game plan.  The plan was to partner…

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Inside the Digital Bank Insurgency of 2020

The pandemic should get a lot of the credit for this, but 2020 was a good — no, make that a great — year for challenger banks and the broader group of digital banks. At the beginning of 2020, just 3 percent of U.S. consumers considered a digital bank to be their primary bank. By…

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Is Your Financial Institution Feeling the Burn?

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When the first so-called “challenger banks” like Simple and Moven appeared on the scene around 2010 they were heralded as “disruptors” that were going to put traditional banks and credit unions out of business. Why? The asserted logic was that they provided a better customer experience, were more customer-friendly in terms of pricing (i.e., no…

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StrategyCorps, ChannelNet join forces to improve digital client experience

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Exciting news — we’ve entered into a strategic partnership with ChannelNet to use ChannelNet’s patented digital engagement platform OneClick Financial to optimize consumer adoption of our BaZing mobile rewards app for banks and credit unions. “More and more consumers want to purchase additional traditional retail banking services via a mobile-first platform. This kind of platform…

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Stop Trying to Talk Your Customers Into Liking Your Checking Accounts

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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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