Customer Relationship

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 Profitability of the Average Checking Account

The Profitability of the Average Checking Account

Maintaining a customer’s checking account costs your financial institution money. The American Bankers Association estimates the annual cost to a bank to maintain a checking account is between $250 and $400 per year.  For community financial institutions with less than $5 billion in assets, the average according to other researchers is closer to $250 to $300.