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Launch of The Lab AIB at Dundrum Town Centre

THE LAB: AIB UNVEILS FIRST DEDICATED DIGITAL BANKING STORE IN IRELAND AIB has today (Monday, April 15th) announced the opening of Ireland's first digital ban...
Ryan Cisler's insight:

This digital banking store is a pioneer of what the future landscape of retail banking could be like. Check it out!

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Citi unveils high-tech U.S. bank | Video | Reuters.com

Citi unveils high-tech U.S. bank | Video | Reuters.com | CitigroupHavasIntern | Scoop.it
DEC 16 - Some U.S. Citibank branches are getting a technological makeover similar to branches in Asia, fitted with video conferencing and touch-screen walls as the bank steps up efforts to woo high-end customers.
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Quick video on Citibank's effort to boost customer experiences, especially among wealthier clientele, via a revamp strategy of major retail stores. Stores now come equipped with touch screen walls offering information on products and services, as well as, video conferencing and online banking stations. 

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The Crusade to Keep Banking Personal in a Virtual World | The Financial Brand: Marketing Insights for Banks & Credit Unions

The Crusade to Keep Banking Personal in a Virtual World | The Financial Brand: Marketing Insights for Banks & Credit Unions | CitigroupHavasIntern | Scoop.it
Marketing Insights, Ideas and Inspiration for Banks and Credit Unions
Ryan Cisler's insight:

Interesting data about banking service consumers: 

 

1) 69% of US consumers want a simplified banking experience and that same 69% would provide more personal information in exchange for banking advice

 

2) 77% want more identity theft security

3) 73% prefer to have more advice on increasing savings

4) 67% want more financial education and literacy

5) 47% prefer to have more frequent assessment of financial status

 

Another interesting insight in this article is that banks tend to overstate their perception of what consumers use mobile banking apps for. #1 usage is for bill pay and #2 for account monitoring. 

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7 Reasons to Love GoBank | The Financial Brand: Marketing Insights for Banks & Credit Unions

7 Reasons to Love GoBank | The Financial Brand: Marketing Insights for Banks & Credit Unions | CitigroupHavasIntern | Scoop.it
Marketing Insights, Ideas and Inspiration for Banks and Credit Unions
Ryan Cisler's insight:

New GoBank mobile banking service is becoming an icon for how banks should communicate meaningfully to customers in order to increase both customer satisfaction and loyoalty. 

 

Some unique features the article highlights:

 

1) CUSTOM DEBIT CARD: with onboarding process. Allows new member to create a personalized debit card by uploading any image. 

 

2) BALANCE BAR - most mobile apps force you to sign into the application to view bank statement.  GoBank app allows user to peek at their balance without the need to login.  Perfect example of great UX design that solves a small hassle in the mind of the consumer. 

 

3) CUSTOM ALERTS - rather than selecting from preset alerts, GoBank allows users to set custom alerts both by type and how user wishes to receive the alert (text, email, sound).  

 

4) NEGOTIABLE MONTHLY FEE - a novel concept here that allows the user to dictate the monthly membership fee for the GoBank service ($0-$9). Average monthly banking fee is around $12 per American just to keep account open.

 

5) FORTUNE TELLER - dubbed as the "Holy Grail" of mobile app functions is GoBank's personal financial management intergration via Fortune Teller.  Users can double check budgets before they spend by telling the teller how much something costs and GoBank gives a yes or no based on the budget and real time balance availability 

 

6) COMM STYLE - GoBank has a very laid back style of communication that is easy to understand, minimalist, friendly, and even quirky, but overall tested well with consumers

 

7) REFERRAL PROGRAM - simple, powerful, and has amassed a huge waitling list of people wanting to open an account. (launch is July 4th)

 

 

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BMO Tests Nanobranch Strategy With Studio-Sized Store | The Financial Brand: Marketing Insights for Banks & Credit Unions

BMO Tests Nanobranch Strategy With Studio-Sized Store | The Financial Brand: Marketing Insights for Banks & Credit Unions | CitigroupHavasIntern | Scoop.it
Marketing Insights, Ideas and Inspiration for Banks and Credit Unions
Ryan Cisler's insight:

Exactly how it sounds. BMO is opening a studio-sized "Nanobranch" in Canada as an effort to reduce costs associated with full scale branches.  These new nanobranches are roughly 900 sq. ft in size and will accomodate up to 4 bankers on payroll with at least 2 being staffed each day. 

 

Article mentions a possible future trend: Remote video banking paired with online banking - all from your pc. 

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For Students, Banking 2.0 Involves Social Media (and the Ads That Go With It)

For Students, Banking 2.0 Involves Social Media (and the Ads That Go With It) | CitigroupHavasIntern | Scoop.it
Let’s say you’re in college.  You’re taking a full load of courses, balancing classes with a work-study job that pays minimum wage, and whether you eat or not depends entirely on the credit still left on your weekly meal plan.  Money’s tight and...
Ryan Cisler's insight:

Geared towards the college student who has low net worth and little discretionary income, a new tech company Waspit (in final Beta) has catered to this niche segment by offering online banking services centered around social media activity.  Banking services are linked to prepaid debit accounts (which can aslo be linked to traditional accounts).  With social media integration, students can automatically check in on Foursquare when they pay a merchant, post comments directly to Facebook, or rate a restaurant via their linked Yelp accounts.  Students earn “buzz” points each time they interact with the banking platform, whether it’s making a purchase or rating a merchant experience, and the points are redeemable for Amazon gift cards and other rewards.

 

This allows advertisersto pay for and roll out specific promotions geared towards this market (which polls suggest students enjoy) in exchange for data about purchasing trends and spending habits of this youthful demographic that ad men crave.  Neat business model!

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