Amazon's Case for Offering Checking Accounts

Amazon's Case for Offering Checking Accounts

The speculation around Amazon’s potential entrance into banking has only heightened, thanks to the recent reports of Amazon being in talks with big banks like JPMorgan Chase and Capital One. While it’s unlikely that Amazon actually plans to become a bank itself, these types of partnerships further reveal that getting in on the banking action is moving up on its “take over the world” to-do list.

Why 2018 Will Be the Year of the Digital Assistant

Why 2018 Will Be the Year of the Digital Assistant

Banks are reimagining how financial advice works in a mobile world, and innovations by Capital One and other big banks are beginning to make digital assistants a new standard for how people can interact with their finances.

What if Amazon Offered a Checking Account?

What if Amazon Offered a Checking Account?

Amazon Prime, Video, Music, Fresh, Alexa—all loved by many, but would consumers also care for an Amazon checking account? One recent survey says that, yes, a subscription based, value-added checking account is the best thing since free two-day shipping.

Reinventing Checking Accounts

Reinventing Checking Accounts

In a recent study by Ron Shevlin of Cornerstone Advisors, commissioned by StrategyCorps, consumers are asked about their interest in a hypothetical Amazon-offered checking account bundle, and the results reveal a meaningful lesson to banks and credit unions – consumers are willing to pay for value in banking products.

Mobile Banking: From Transaction to Experience

Mobile Banking: From Transaction to Experience

There's been a significant shift in the retail landscape and the way people prefer to purchase. Today's consumers expect more than just the ability to buy a product or, in the case of credit unions, conduct basic transactions. Instead, they expect a full-fledged experience.

What's Next for Mobile Banking?

What's Next for Mobile Banking?

Big banks are moving up the ranking and overtaking smaller banks in terms of satisfaction. They simply have what the mobile services customers want, when they want it. And they effectively communicate what they have. What good is having services if your customers don't know about it? It's like having a giant diamond but never being able to wear it. It's [past] time to take the plunge and go beyond the basics. 

What Bankers Should Know About Consumer Checking Financial Performance

What Bankers Should Know About Consumer Checking Financial Performance

We actively track, quantify, rank and analyze nearly 4 million checking account relationships of community financial institutions nationwide. See our latest research that reveals the bottom line reality of checking.

Beneficial Bank Targets Millennials

Beneficial Bank Targets Millennials

When Beneficial Bank, well known as one of the oldest banks in Philadelphia, Pennsylvania, set out to revamp its brand in 2013, they also shifted their entire culture to be more relevant to the Millennial audience. By deeply defining this group of people through consumer research, introducing purposeful creative focused on serving Millennials’ financial needs and working to change the mindset of every employee from top to bottom, they created a brand that enhanced their most traditional values and gained the attention of this new, valuable audience. 

Accenture 2015 North America Consumer Digital Banking Survey

Recent report from Accenture shows customers want advice-driven banking, including 54% of customers interested in banks locating discounts. 

"Most consumers (79%) define their banking relationship as transactional... This trend is bad news for banks. It reflects a fundamental problem for the industry. When customers think about what the bank offers, most think about commodity banking products and services rather than unique value for their broader financial lives." 

The Battle is Back On for Checking Customers

The Battle is Back On for Checking Customers

By out-marketing and out-innovating retail products, larger banks know the battle is on to attract profitable or quick to be profitable customers, traditional ones right down to millennials, by offering an attractive “earned” incentive to move and providing better mobile products along with a wider variety of other retail products and services.

The Big Banks' Latest Trends in Mobile Banking

The Big Banks' Latest Trends in Mobile Banking

Big banks have been committed to working out their mobile strategies over the past two years and are now unveiling the dramatic results they’ve achieved. According to AlixPartners, big banks controlled 67 percent of the primary banking relationships by the second quarter of 2014, while credit unions had 14 percent. Mid-size banks controlled 11 percent, community banks 4 percent and all others at 4 percent.