How (And Why) Consumers And Banking Providers Don’t See Eye to Eye

How (And Why) Consumers And Banking Providers Don’t See Eye to Eye

Article from: The Financial Brand

Do banks and credit unions really understand the people they serve? How they prefer to bank? What's most important to them? How they really feel about some "innovations" like video tellers? And how consumers rate their providers' understanding of their financial needs?

Financial institutions have a good basic understanding of the consumers they serve, but significant weaknesses in their view are limiting their full comprehension of what consumers want. Most banking executives have a warped perception of people’s preferences — overestimating their desire for digital services, for example. And many financial institutions have an inflated idea of how “loved” they are by the people they serve.

  

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