Jeff For Banks

JULY 5, 2022

Then came this bubble generation they named millennials. Initially, and maybe to this day, banks ignored them. Ever call your millennial child only to get a text back asking "what?" Don't build our strategy around them.' There is a fintech firm, SoFi, that was born in 2011, that focuses on millennials financial needs.

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Millennials Community Pennsylvania Community Bank 78

PYMNTS

AUGUST 21, 2020

Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion. It’s a story told by the data itself, Lesher said. Square announced $1.3

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Cards Mobile Community Bank Community 224

PYMNTS

OCTOBER 4, 2019

For community banks and credit unions, their physical proximity to the small businesses they’re servicing is often pointed out as a major advantage these smaller players hold over the big banks, enabling these FIs to develop deeper relationships with their small to medium-size business (SMB) clients, anticipate their needs and establish trust.

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Lending Community Bank US Community 152

Independent Banker

OCTOBER 29, 2014

Out of Mom and Dad’s basement, millennials are primed to become your next best customers. Bauhs is on the tail end of the “millennial” generation, which is commonly defined as those born between 1980 and 2000. This is really the moment for community banks to show that they’re a fit for millennials. By Ed Avis.

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Millennials Community Bank social media Community 110

The Financial Brand

FEBRUARY 24, 2021

If financial institutions keep marketing to Gen Z like they did Millennials and Gen X, they'll keep coming up short. The post How Pineapples are Helping Community Banks Attract Younger Customers appeared first on The Financial Brand.

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Community Bank Community Millennials Branding 15

Independent Banker

NOVEMBER 13, 2014

Out of Mom and Dad’s basement, millennials are primed to become your next best customers. Bauhs is on the tail end of the “millennial” generation, which is commonly defined as those born between 1980 and 2000. This is really the moment for community banks to show that they’re a fit for millennials. By Ed Avis.

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Millennials Community Bank social media Community 87

The Financial Brand

DECEMBER 8, 2020

Disconnect between the views of Millennials and community banking leaders over rate sensitivity gives handful of institutions a big opening. The post Big Banks Are Deposit Vacuums: How Other Institutions Can Slow the Flow appeared first on The Financial Brand.

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Millennials Community Bank Community Branding 37

American Banker

JUNE 24, 2016

Digital tools improve a bank's traditional sales process, but relationship-based banking is still a huge factor in winning over millennial customers.

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Digital Strategies Strategy Millennials Tools 49

PYMNTS

JUNE 1, 2020

These banks must also make sure they are providing the tools that primarily digital customers need to complete their personal banking needs. Banks today are familiar with the challenges of supporting digital platforms as an increasing number of customers turn to online-only solutions.

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Digital Banking Delaware Tools Mobile 136

Gonzobanker

APRIL 3, 2019

It’s not a “Millennial thing.” Focus on digital marketing and social media , supplemented with physical outreach to drive digital , such as enhanced contact centers, bank-at-work programs, trade shows, art exhibits and other outreach. About one-third of community banks are planning to add or replace this technology.

social media 99

social media Exercises Millennials Training 99

Abrigo

MAY 5, 2022

Banking Transformed Banking Transformed by the Financial Brand’s Jim Marous has new episodes several times a month and features executives from financial institutions, financial technology firms, authors, consultants, and other experts in the banking industry.

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Community Lending Maine Resources 195

Abrigo

MAY 11, 2020

The banking landscape has been changing in recent years, with more digital offerings and technology available for financial institutions of all sizes to leverage – something once reserved only for big banks with big budgets. However, not all institutions adopted these new technologies and instead have stuck to traditional strategies.

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US Lending Community Technology 195

American Banker

SEPTEMBER 1, 2016

The inconsistency between what millennials say on surveys and their actual behavior should make bank marketers skeptical about building programs around such research.

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Millennials Survey Marketing Branch Strategies 33

Jeff For Banks

FEBRUARY 20, 2016

I made my first trip to the conference because I was asked to moderate a CEO Exchange, where bank CEOs sat, round-table style, discussing their most pressing issues. My first regarded attendees growth strategies. Farm Credit, particularly in rural markets, are a significant threat to community banks. It's not so bad.

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Conference Community National Millennials 60

PYMNTS

OCTOBER 18, 2017

Thus, when companies come to market with new ideas, it is essential they come with a strategy to commercialize their efforts, too, Wain explained — a “commercialization agenda,” if you will. According to Webster, community banks and credit unions are trying to solve for pain points that may differ from population to population.

Innovation 140

Innovation Compliance Community Bank Strategy 140

Independent Banker

JANUARY 26, 2016

ICBA has planned an educational lineup of more than 60 workshops and networking sessions for next month’s Community Banking LIVE conference in New Orleans. Community banks can beat tech-based, nontraditional competitors at their own game. billion-asset community bank in Winter Haven, Fla., Digital Jujitsu.

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Community Bank Community San Diego Strategy 70

Independent Banker

NOVEMBER 25, 2015

Regardless of the name, nonbank technology firms are wedging themselves between community banks and their customers by offering a slew of traditional and nontraditional banking products. This is why ICBA and community banks must continue to push consistent regulation of bank and nonbank financial service providers.

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Community Bank Community Analytics Lending 70

The Financial Brand

MARCH 14, 2017

Millennials are open to switching financial institutions if they are given rewards, access to branches and well-designed digital applications.

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Millennials Community Bank Community Strategy 27

The Financial Brand

MARCH 14, 2017

Millennials are open to switching financial institutions if they are provided rewards, access to branches and well-designed digital applications.

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Millennials Community Bank Community Strategy 26

American Banker

MAY 2, 2016

Amalgamated Bank in New York has started offering down payment insurance to homebuyers in a move it hopes will set it apart with highly mobile millennial borrowers.

Millennials 28

Millennials New York Mobile Payments 28

Long Lasting Ideas

JANUARY 5, 2015

And at a micro level, how do community banks reach a generation overwhelmed with debt that inhibits wealth? A whopping 63 percent of millennials (ages 18 to 29) don’t have a credit card, according to a survey commissioned by Bankrate and compiled by Princeton Survey Research Associates International. Get out of the office.

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Marketing Millennials Community Bank social media 40

Jeff For Banks

MARCH 3, 2018

How do we balance strategic direction, customer demand, and the futurist or wildly over-caffeinated millennial that tells us we have to implement every shiny new object or we'll die? Six years ago I asked in a blog post Will Plain Vanilla Kill Community Banking ? Maybe those millennial futurists don't remember this.

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Apple Millennials Massachusetts FDIC 65

Independent Banker

AUGUST 25, 2016

With the average individual spending 100 minutes on social media each day, it’s entirely possible for community banks to share some of that screen time. If you’re an online bank or are simply looking for younger, more millennial-type customers, Twitter and Instagram are strong platforms to use. With a combined 2.5

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social media Community Bank Community Video 70

The Financial Brand

JUNE 19, 2017

Will the banking industry's biggest players win the demographic battle, as smaller institutions die right alongside an aging customer base?

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Community Bank Community Industry Millennials 28

The Financial Brand

FEBRUARY 3, 2022

Community institutions are losing share among Millennial and Gen Z segments. The post How Small Banks Can Counter Fintech & Megabank Marketing Budgets appeared first on The Financial Brand - Banking Trends, Analysis & Insights. Analytics and first-party data can help reverse the trend.

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Marketing Fintech Millennials Analytics 31

Jeff For Banks

JANUARY 26, 2017

Will millennials come to your financial institution once they've acquired the investable assets to make your Trust Department interested? Community banks must think so, because I don't hear many strategies centered on helping customers build wealth from early to late. I think this is a risky strategy.

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Management Strategy Meeting Millennials 60

FICO

FEBRUARY 5, 2021

Nearly half (47%) of Millennials and a little more than a third (36%) of Gen Zers and Gen Xers engage in shadow financial activities. Looking back on our time as teenagers, I think we can all agree that this strategy doesn’t work. Convincing consumers to abandon challenger banks, en masse, isn’t going to work. You’re too young!

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Millennials social media Fintech Examples 52

Gonzobanker

DECEMBER 20, 2019

. ————————————————————————— The ‘En Vogue’ Trend of the Year – Credit unions buying community banks. Legacy banks need not apply. The bank’s strategy is laser-focused.

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Idaho Conference Data Marketing 148

Jeff For Banks

DECEMBER 1, 2015

This highlights an important banking concept: revenues are mostly driven off of balances, not activity. Malls are experiencing difficulty in the United States, as millennials opt for smaller, urban environments to shop. Since 2006, community banks have recognized the need for greater balances in branches to improve profitability.

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Pennsylvania Community Bank Community Taxes 60

ForwardBanker

MAY 17, 2018

As anyone in banking will tell you, the days of free-wheeling deposit growth for community banks are grinding to a halt. A coffer filled to the brim with low-cost deposits … ah, those were the days. The reason? The Federal Reserve made good on its promise to raise rates in 2016, and more are coming.

Retail 36

Retail Community Bank Community Branding 36

American Banker

NOVEMBER 30, 2016

NewDominion Bank created a new slogan and marketing campaign to target younger prospects and newcomers to Charlotte, N.C. Only time will tell if the effort will succeed and help the bank survive on its own.

Charlotte 28

Charlotte Millennials Marketing Community Bank 28

Jeff For Banks

MAY 31, 2017

I also believe that branches can be developed as competitive advantages for community financial institutions. Much like the credit union CEO thinks his branching strategy differentiates his CU. But, as our current strategy execution stands, there is much work to be done. The red: millennials. They are under 21 years old

Branch Strategies 60

Branch Strategies DC Groups Fintech 60

Long Lasting Ideas

FEBRUARY 23, 2016

These are ideas that shatter the notions of conventional bank marketing: Have a little fun at the expense of your competitors: One major bank brand uses green bicycles and a marching band to pump up its brand. It’s a creative way to communicate the idea of building wealth more quickly and creatively.

Branding 40

Branding Alabama Community ATM 40

Gonzobanker

FEBRUARY 7, 2018

Robert Sarver of Western Alliance Bancorporation said he started his company after being “unemployed” for two years after selling a previous bank – his wife was just plain tired of him wandering the house in his PJs. Sarver grew Alliance from a small $700 million community bank acquisition to a $20 billion powerhouse in less than 15 years.

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Taxes Video Analytics Arkansas 75

ZootBlog

NOVEMBER 11, 2015

Their strategy is to develop such strong muscle memory that when they are in competition, their body executes flawlessly. So what does this have to do with banking? In today’s environment, as banks manage increased regulation and competition from industry outsiders, they must operate in the same fashion. Everything.

Innovation 60

Innovation Fintech social media Knowledge Base 60

ForwardBanker

MAY 17, 2018

As anyone in banking will tell you, the days of free-wheeling deposit growth for community banks are grinding to a halt. A coffer filled to the brim with low-cost deposits … ah, those were the days. The reason? The Federal Reserve made good on its promise to raise rates, and more are coming down the.

Retail 28

Retail Community Bank Community Branding 28

American Banker

SEPTEMBER 12, 2016

Groups in North Carolina, Pennsylvania and elsewhere are stepping up efforts to create programs and conferences dedicated to younger bankers, including millennials.

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North Carolina Pennsylvania Millennials Conference 28