Research and Markets: Banking Consumer Report 2014: How to Become the Banking Customer's Primary Financial Institution

Research and Markets (http://www.researchandmarkets.com/research/cnbp4m/becoming_the) has announced the addition of the "Becoming the Banking Customer's Primary Financial Institution" report to their offering.

Today's banking customers are inundated with a wide variety of products and services from various financial institutions (FIs) as well as new solutions from nontraditional industry participants. The competition for market share in banking services is fierce. And since banking customers and credit union members are embracing new products and technologies and becoming increasingly sophisticated in their use, FIs that increase their understanding of customer wants and needs, many of which may be unstated, have a better chance of becoming their customers' primary financial institution.

This new research "Becoming the Banking Customer's Primary Financial Institution" reviews the increasing trend for banking customers to choose fewer financial institutions with which to interact and engage. Mercator survey data finds US customers using fewer financial institutions, a trend that is making the competitive landscape even more challenging today than it has ever been.

Financial institutions must increase their understanding of customer wants and needs, some of which may be unstated. Earning the customer's de facto designation as primary financial institution can be a long process with rich rewards, comments Ed O'Brien, author of the report.

Key Topics Covered:

1. Executive Summary

2. The Importance of Being the Customer's Primary Financial Institution

• The (Financial) Times They Are a-Changin'
• The Importance of Being a Full-Service Financial Services Provider
• Banking Customers Are Using Fewer Financial Institutions than Just a Few Years Ago
• Earning Customers' Trust and Confidence
• Attributes Consumers Desire in a Primary FI
• Expanding Beyond DDA Accounts
• Definitions Vary
• Establishing and Building a Long-Term Customer Relationship
• Rules of Thumb for Estimating Account Profitability and Relationship Stickiness
• Product Bundling and Relationship Pricing: An Idea Whose Time Has Come (Again)

3. Relationship Building Is Key

• The Importance of Interaction in Banking
• The Increasing Ubiquity of Mobile Devices Is Driving Swift Change in Banking
• Mobile Banking in All Forms Continues to Grow
• FIs Expanding Depth and Breadth of Financial Services Offerings
• Videoconferencing as a Way to Increase Interaction and Engagement
• Personal Interaction Doesn't Necessarily Have to Mean Meeting in Person
• Using Data Management and Analytics to Better Understand Customers' Wants, Needs, and Behaviors

4. A Sample of Solutions

5. Conclusions and Strategic Implications

Companies Mentioned

• Apple
• Bank of America
• Chase
• Citi
• Cisco
• D+H
• Fiserv
• Navy Federal Credit Union
• Microsoft
• SAS
• USAA
• Wells Fargo

For more information visit http://www.researchandmarkets.com/research/cnbp4m/becoming_the