banking

Well done Age UK for it efforts to promote age friendly banking.

A term they define as: "services, products and facilities that remain accessible and easy-to-use as people age, assist caregivers and prevent financial exploitation."

In a pymnts.com article titled One Banker’s View Of Apple Pay Threats, the SVP of a large bank indicated:

“Though Apple gets a piece of every transaction, the company provides no help to banks in making sure their cards are “top of wallet” for use, or helping users decide which card is best of each situation.”

“Happy days are here again
The skies above are clear again
So let’s sing a song of cheer again
Happy days are here again.”
–Barbra Streisand

Wells Fargo is an unusual bank. In the first place, it is headquartered in San Francisco, not in a typical financial center like New York. It is also unusually socially conscious, earning high marks for its environmental record and setting records for financing green projects.

Don’t bother looking it up. Hyperopia is a term that refers to far-sightedness–for the purpose of this blog post, it’s important to know that it’s the opposite of myopia.

Myopia being the term used by Kevin Tynan, CMO of Liberty Bank for Savings, in an editorial in American Banker titled Banks Have a Case of Digital Marketing Myopia. In it, Mr. Tynan writes:

Here are some things I’ve learned from recent consumer research I’ve conducted (nothing earth-shattering, but at least there’s data to back up the assertions):

According to a recent American Banker article titled Amazon Becomes Retail Bank Role Model:

More goodies from the EY 2014 Global Consumer Banking Survey….

EY asked consumers who had opened and closed bank accounts in the prior 12 months what their reasons for doing so were. Here’s what EY found:

EY (is it not called Ernst & Young anymore?) released its 2014 Global Consumer Banking Survey recently. For a better review of it than I’ll provide here, see the summary on The Financial Brand, or download the report directly.