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The Financial Brand
Finanzdienstleistungen
Seattle, Washington 19,493 followers
The world’s leading retail digital banking and financial marketing publication, and host of The Financial Brand Forum.
Über uns
The Financial Brand is a digital banking publication, zeroed in on strategic marketing issues in the retail banking sector: banking innovation, banking technology, BNPL, data analytics, customer experience, artificial intelligence and much more. It is a comprehensive resource for C-level bankers looking for the latest ideas, insights and information about how financial institutions build and grow their brands. The Financial Brand also hosts the Financial Brand Forum, the world’s most elite conference on marketing, CX, data analytics and digital transformation in banking. The event is built exclusively for senior-level executives working in the financial industry, with a specific emphasis on those in marketing roles at retail banks and credit unions based in North America.
- Website
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https://thefinancialbrand.com/
External link for The Financial Brand
- Industrie
- Finanzdienstleistungen
- Größe des Unternehmens
- 11-50 Mitarbeiter
- Hauptsitz
- Seattle, Washington
- Typ
- In Privatbesitz
- Gegründet
- 2007
Standorte
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Primäre
Seattle, Washington 98101, US
Employees at The Financial Brand
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Scott Strohmyer, PMP®
Senior Account Executive @ The Financial Brand | Project Management Certificate
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Andrea Belk Olson, MSC
Corporate Strategist, HBR Contributor, Behavioral Scientist, TEDx Producer, Author of "What to Ask" (Available on Amazon)
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Will Bernstein
Chief Revenue Officer, The Financial Brand
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Jeffry Pilcher
CEO/President of The Financial Brand
Aktualisierungen
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Banks have long believed that delivering core banking services inevitably leads to ownership of their customers' full financial needs. That's becoming a dangerous myth, according to a new report from 💯 Jim Marous on emerging consumer behaviors across multiple generations. Key findings: • Gen Z and Millennials use 6+ financial tools on average • 50%+ of these relationships are outside their primary bank • Digital convenience trumps geographic proximity But here's the kicker: While 85% of consumers report positive experiences with their primary bank, dig deeper and you'll find: • 33% feel misunderstood and underserved • 40% don't see their bank as innovative • 47% are unsatisfied with rewards offerings As one industry expert notes, "The fragmentation of banking relationships is changing the competitive dynamics of the industry. Consumers are building their own suite of financial products from multiple providers." The takeaway? Banks need to step up their game in personalization, innovation, and digital offerings. It's not just about satisfaction – it's about staying relevant in a rapidly evolving financial ecosystem.
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Happening today at 2pm EST: Transforming Your Bank into a Financial Coaching Partner with Achieve Join us to explore how EVERFI’s mobile-friendly consumer education solution, Achieve, can transform your customer experience approach, turning personal banking into impactful financial coaching.
From Transactions to Trust: Transforming Your Bank into a Financial Coaching Partner with Achieve
thefinancialbrand.com
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Behind the façade of Instagram-perfect lives, millions of Americans are silently struggling with their finances. A groundbreaking report from Nonfiction Research reveals the stark reality: 52% of Americans have cried over money troubles. Even among those earning $200k+, 41% have shed tears over finances. "For 150 million Americans, money is something to cry about," the report states. This isn't just a low-income issue – it's an American issue. But here's the kicker: 64% of those with financial advisors still feel they have no one to talk to about money. Banks are missing the mark, with 64% of respondents saying their bank has never offered basic financial planning services. One survey respondent put it bluntly: "I feel like I'm in a hole and all I have is a shovel." The solution? A "Personal CFO" for everyday Americans. Someone who can translate values into financial goals, create budgets, and demystify personal finance. Financial institutions, it's time to step up. The opportunity to make a real difference in people's lives is knocking.
Americans Are One Paycheck Away from Financial Crisis — and Bankers Must Step Up
thefinancialbrand.com
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The Financial Brand reposted this
Read Sean Gelles' piece on The Financial Brand, where he dives into the latest developments surrounding Zelle fraud and the broader person-to-person (P2P) transfers landscape!
Thank you to The Financial Brand for the opportunity to flex my writing muscles again and dive deep into the recent scrutiny Zelle has faced from lawmakers and regulators. In my article, I argue -- supported by data from J.D. Power -- that the ongoing debate may be missing a key point: Zelle's fraud rates are relatively low, especially when compared to the broader P2P payments landscape and the financial services industry in general. Addressing this fraud requires a collaborative effort among banks, regulators, and technology providers to ensure that all stakeholders work together to protect consumers and maintain confidence in the financial ecosystem. #Fintech #DigitalPayments #Zelle #ConsumerProtection #Regulation #FinancialServices
What Banks Must Learn from Washington's Attack on Zelle
thefinancialbrand.com
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The latest ATM security threats are a stark reminder that bankers can never let their guard down. From "hook and chain" attacks to the use of stolen "jaws of life" equipment, criminals are getting creative with physical attacks on ATMs. But it doesn't stop there. Card skimming devices have evolved to be as thin as 0.5 millimeters—thinner than a dime!—making them nearly impossible to detect. And just when you thought you had physical security covered, cybercriminals enter the chat. The AlphaV ransomware group recently exfiltrated terabytes of sensitive data from multiple institutions by compromising ATM systems. It's a chilling reminder that in our interconnected world, a single weak link can compromise an entire network. But it's not all doom and gloom. The banking industry is fighting back with multi-layered defenses. As Paul Cowley, VP of Technical Support and Logistics at DBE, describes it in his latest guest post for us: "No single line of defense prevents a breach on its own. Technology, alarm systems, proper lighting practices, branch design, and well-trained customers and staff can layer together to create the most robust defense." Read more on what Cowley has to say about protecting your ATM network:
Criminals Are Getting Better at Hacking ATMs. Here’s How to Disrupt Them
thefinancialbrand.com
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The cashless society isn't here yet, but the landscape is shifting rapidly. Marqeta's 2024 State of Payments Report reveals a dichotomy in consumer behavior that's reshaping the financial industry. On one hand, cash still has its place: 60% of consumers used it in the last week. On the other, the digital revolution is in full swing. A staggering 96% of consumers have at least one card in their mobile wallet, and 62% feel confident leaving their physical wallets at home. But here's where it gets interesting: while 64% of consumers have used their primary bank for six years or more, loyalty is becoming increasingly fragile. The rise of digital-only banks and embedded finance is challenging traditional models. In the U.S., 63% of consumers aged 18-34 would consider getting financial services from non-traditional providers like tech companies or retailers. P2P payment apps are leading this charge, evolving from simple transfer tools to comprehensive financial platforms. Nearly 8 in 10 U.S. consumers have used a P2P app, with many using them for additional services like credit cards and bill pay. Perhaps most intriguing is the growing demand for Accelerated Wage Access. In a world where 3 in 5 Americans live paycheck-to-paycheck, 87% of U.S. consumers are attracted to platforms offering instant pay options. It's a trend that's reshaping not just payments, but employment dynamics too.
For Younger Consumers, Payments Is Banking. Why That's Trouble for Traditional Institutions
thefinancialbrand.com
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It doesn't matter whose top dog in the banking industry: customer loyalty is always the holy grail. But how we measure and improve it is always changing — and NPS isn't it. Enter the Global CX Standards, a groundbreaking initiative that's set to transform how we approach customer experience. Developed by the likes of Bain & Company, Kantar, and Qualtrics, these standards go beyond traditional metrics like NPS. They offer a comprehensive framework built on three pillars: customer-centric culture, CX capability, and CX execution. What makes this approach unique? It's not just about gathering data – it's about creating a customer-centric DNA within organizations. As Stanford Swinton and Peter Aitken, key figures behind the standards, point out: "Culture change needs to be led from the top." The financial industry stands to gain significantly from this new approach. In an era where fintech challengers are reshaping expectations, these standards provide a roadmap for both established institutions and newcomers alike. "Competition is already forcing financial service companies to innovate for customers," Swinton and Aitken note. "The Standards can help firms ensure that customer-centricity enters the DNA of the organization rather than stands alone as a project or one-off initiative." From AI-driven personalization to journey-centric team structures, the standards challenge us to think differently about CX. They're not just best practices – they're a call to innovation. As we approach the October 1, 2024 launch of the final standards, it's time to ask: How will your institution adapt to this new CX landscape? Are you ready to move beyond traditional metrics and embed customer-centricity into your organizational DNA? Let us know what you think!
NPS Under Fire: Inside 3 CX Giants' Push for a Better Metric
thefinancialbrand.com
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Consumers have shifted to streaming platforms. And there are community banks and credit unions that have followed suit with their marketing. Here's why: • 59% of consumers say there's too much brand advertising on social media • Over half of the U.S. population will watch ad-supported streaming content monthly by 2026 • Streaming offers opportunities to reach diverse, engaged audiences Is your institution exploring streaming ads? What has been your experience?
Why Some Community Banks Are Ditching Social Media Marketing for Streaming Platforms
thefinancialbrand.com
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Happening today at 2pm EST: Will Your Branch Adapt to the Needs of a Rapidly Changing Population? Join Benjamin La Macchia and guests Christine Moczynski, President and CEO of Prime Financial Credit Union and Melvin Wong, VP of Consumer Lending at Sun Community Federal Credit Union, as they discuss how some of the fastest growing US demographics still face barriers to accessible banking, including minorities, immigrants, and individuals with disabilities, and how banks and credit unions can help by breaking down these barriers.
Breaking Down Barriers: Will Your Branch Adapt to the Needs of a Rapidly Changing Population?
thefinancialbrand.com