Emerge’s Post

In a world where every second counts, banks must learn to capture and hold the attention of their audience. While flashy ads may grab a fleeting glance, it's the stories that resonate on a deeper level that truly make an impact. By understanding the goals and aspirations of Gen Z and Millennials, banks can create content that speaks to their audience on a personal level. From bite-sized financial tips to immersive storytelling experiences, banks have the opportunity to engage with their customers in ways that are meaningful and memorable. It's time to rethink banking for the digital age and embrace the power of storytelling. https://lnkd.in/ezW2ShEz #DigitalBanking #BankingTransformation #FinancialEmpowerment #CustomerSuccess #Fintech

For younger consumers, banks are no longer the default option for accessing financial products and services. In fact, Vodeno’s research shows that most (52%) Millennial and Gen-Z consumers prefer getting financial products from their favourite brands.  Our Chief Strategy & Product Officer Jean-Jacques Le Bon explains why in this article for IBS Intelligence. https://lnkd.in/ekk_j6hp #Milennial #GenZ #embeddedfinance

Big news from #midfirst today!

I often end my days with a walk or a drive with Marketplace & Kai Ryssdal in my podcast feed. Friday was a great day as I not only heard an awesome story about the need for innovation with community financial institutions but I actually knew one of those innovators they interviewed! Great Interview Christian Ruppe! I still believe we are in the early innings of this data-driven transformation for community financial institutions. This interview just validates our mission and vision at Vertice AI. I am thankful that we are helping community FIs with their desire to be more data-driven and provide a more relevant experience to their members and clients. It is clear that the big banks and neo/digital FIs are leading the charge on being data-driven but smaller community institutions have options to be just as relevant and provide personalized experiences to consumers. They just have to make it a priority. Here is the link to the audio if you missed it. https://lnkd.in/eb-z3wGQ

What are things we will see in the future Smarter Bank organization? What will be key corporate personality traits? To answer these questions, Cornerstone offers five characteristics of the future Smarter Bank. https://lnkd.in/dxEAvtJ8

Our CEO Stephen Dow spoke this week at ABA's #AnnualConvention highlighting how banks can innovate in the #SMB segment through successful bank-fintech partnerships, Steve was joined by Paul Margarites of TD and Brooke Ybarra of the American Bankers Association. The panel highlighted several key trends: 1) Shifting demographics of business owners to be younger, more digitally-savvy with user-experience expectations set by large tech companies 2) The fact that business owners want advice from their bank. A recent JD Power study found a 34 point increase in satisfaction with banks who provided tailored advice to SMBs 3) The willingness of businesses to use multiple financial institutions and fintechs to accomplish their needs The discussion explored how banks can move the "center of gravity" for business customers back to the bank by acknowledging these trends and offering a deeper digital offering, with guidance and key financial tools like those provided by Monit. The panel also explored the huge benefits of incorporating accounting data to enable front-line bankers with timely, relevant data-driven offers to increase product coverage. #smallbusinessbanking #cashflowinsights #banktech

Revenue from GenZ in banking will triple until 2027 - How can traditional banks win over Gen Z?   To ensure #GenZ doesn't become a lost generation, established banks must engage this crucial demographic now. Our latest BCG report highlights the significant growth opportunity GenZ represents for the banking sector. This digitally native, always-online generation is heavily influenced by social media and demands seamless user experiences, personalized services, and mobile-first solutions. Traditional banks risk missing out if they don't adapt quickly. They need to innovate their product and communication strategies to align with GenZ's preferences for freedom, personalized financial products, and sustainability. Now is the last chance for traditional banks to attract and retain these young customers, ensuring long-term growth and relevance in the evolving financial landscape. Gen Z willingness to switch banks currently is still 7 times higher compared to traditional clients - at a fraction of regular customer acquisition cost.   For more insights, read the full report here: https://lnkd.in/d5XsQX5Y #BCG #FinancialServices #DigitalTransformation Achim Kaucic Holger Sachse Dr. Jasper Barth Holger Sachse Akin Soysal Marc Pöpsel-Schalück

🏦 Did You Know? Ethnography can revolutionize how banks connect with customers! 🌟 By immersing ourselves in customers’ everyday lives, we uncover hidden motivations and emotions that drive their financial decisions. 💭✨ For example, we’ve found that family dynamics and community ties heavily influence banking preferences—insights that surveys often miss. DM us to explore how ethnographic research can enhance customer experiences and build trust in banking! 💡🤝 #Ethnography #Banking #CustomerInsights #Innovation #Trust

🏦 Unveiling the Power of the Fresh Start Effect in Banking 💡💳 In my recent research on banking practices, I explored the profound impact of the Fresh Start Effect. The goal was simple: to understand how banks leverage this phenomenon to attract and retain customers. What I uncovered was eye-opening. By tapping into the Fresh Start Effect, banks create an aura of excitement and possibility around their services. Whether through incentives for new account openings or personalized onboarding experiences, banks make customers feel like they're embarking on a fresh financial journey. This effect also plays a crucial role in customer engagement and retention. By continually offering new beginnings – whether through targeted promotions, digital innovations, or proactive financial advice – banks keep customers coming back for more. So how do banks pull off this feat? It's all about understanding the psychology of human behavior and leveraging it to create meaningful connections with customers. From the moment a customer walks through the door (or logs into their app), banks are there to guide them on their financial journey, offering support, encouragement, and opportunities for growth. In essence, the Fresh Start Effect is more than just a psychological quirk – it's a powerful tool that banks can use to forge lasting relationships with their customers. By embracing this concept, banks can unlock new levels of engagement, loyalty, and satisfaction, ensuring a brighter financial future for all. #Banking #FreshStartEffect #CustomerEngagement #FinancialJourney #Psychology #Loyalty #Innovation

Capturing market share and focusing on deposit growth is crucial for financial institutions. Hear from Tom McGill, PRI Director of Customer Experience, as he lays out the five key strategies to navigate today's challenges and help grow deposits long term. From robust onboarding programs to leveraging digital experiences, learn how to grow and retain deposits effectively. Read More: https://lnkd.in/e-QvhZgE #thePRIway #DigitalBanking #DepositGrowth