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Social Studies for the Banking World

Banking 2020

As the American Banking Association has been emphasizing in numerous outreach initiatives , including webcasts, many banks have already developed and implemented social media strategies, primarily as an extension of their ongoing marketing and communications strategies. There are some critical differences, however.

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Banks turn to influencers to build buzz about their brands

American Banker

Financial institutions like Ally Financial, Clinton Savings Bank and First National Bank of Omaha are recruiting personal finance experts, college students and local personalities to promote their products and services.

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This Week’s Reads: Credit Unions, Digital Account Opening, Mobile Payments

Banking 2020

Articles via The Financial Brand, Credit Union Times, Finextra and Mobile Payments Today. Six strategies to attract young members: With the average age of credit union members being consumers in their mid-to-late 40s, credit unions are missing a major market –millennials.

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Fragmentation vs Ubiquity

Banking 2020

But consumers also want choice – so for instance they want to buy a store-branded gift card to give as a present. She notes that while some P2P providers will gain a large market share as cash becomes less popular, this will “suffocate opportunity for ubiquitous solutions that will benefit consumers”.

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Winning the Customer

Banking 2020

That’s why digital capabilities have revolutionized every industry from retail and healthcare to banking—if the same services can be had from half a world away, and for a lower cost, why not avail of them? That’s a major advantage in this market. No one understands this trend better than those pesky millennials.

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?? Generations X and Y’s “Culture of Convenience” driving financial institutions toward “mobile-first” omnichannel structures

Banking 2020

From browsing on social media, to clicking through to the mobile site, to paying on the computer, the modern customer moves across multiple channels while shopping. Robin Jones is the CMO of Payfirma and has more than 20 years of experience as a marketing strategist in global technology organizations. About the author.

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FI Highlight: Truliant Federal Credit Union

Banking 2020

A great example of this is connecting with the local community through local grants and marketing giveaways. Renee Shipko, Community Engagement Liaison at Truliant Federal Credit Union , discusses recent opportunities Truliant FCU has leveraged to connect with their local markets.