In today’s world, working moms like Della don’t think there is anything special about their bank or credit union. She’s like 77% of consumers who are willing to switch banks for better rewards, and she’s only half-way sure that she’ll have the same primary account in six months. She’s wondering about all of the new financial offerings and payment options from companies like Apple, Google, Facebook, Square, Wal-Mart, and Target.
The good news is that Della still trusts you more than she trusts those tech companies and retailers. According to Bain & Company, “FIs are in prime position to benefit from new payment methods and loyalty schemes. Consumers trust FIs with their data more than they trust retailers, tech companies, or alternative payment providers.”