The mass affluent have unique retail banking and financial services needs. Here, we discuss some of the key differences and how to leverage them.
Customer Acquisition Focus
SubPrime Auto Finance News recently published an article regarding the surge in subprime vehicle financing. In fact, the numbers for March 2014 came in at $13.1 billion, higher than any single month for the past seven years. But while the total dollar amount is at historic highs, the average amount per subprime loan came in [Read More...]
In recent years, marketing has become significantly data-driven across many industries. However, many financial services firms have only begun to scrape the surface when it comes to leveraging the full power of big data. Most banks do rely on their existing firm data to plan marketing campaigns, but they can significantly enhance marketing efficiency if [Read More...]
Buying ads online and reaching lots of consumers is relatively easy. For retail bank advertisers looking to attract new customers online, the biggest challenge is to deliver ads that actually grab consumers’ attention and help drive them to open an account as well. That last piece complicates retail bank advertising even further, because banks have [Read More...]
While lenders are looking at more targeted acquisition strategies to fill their loan pipelines as origination volumes decline, more stringent standards for lending should be taken into consideration. The Dodd-Frank Mortgage Reform rules set forth by the Consumer Financial Protection Bureau (CFPB) implements ability to repay (ATR) guidelines for mortgage lenders. For loans that will [Read More...]