ATM participation and marketing relationship delivers surcharge-free account access for ConnectOne Bank clients to nearly 8,000 7-Eleven®locations throughout the U.S.
Online resource offers unique, customizable graphics to help financial institutions promote surcharge-free access and convenience.
A majority (78%) of US workers live paycheck to paycheck, according to a 2017 CareerBuilder Survey. One in four workers do not contribute to savings most months. Higher salaries do not end money issues, either. Of workers making $100,000+, nine percent (9%) are living paycheck to paycheck. The percentage only rises as income decreases – with twenty-eight percent (28%) of those making $50,000-99,999 and fifty-one percent (51%) of those making under $50,000 also counting on the next payday.
Millennials aren’t the only “digitally-savvy” generation anymore. In fact, smartphone penetration in the United States is expected to reach 230 million people in 2018. To put that in perspective, the US Census Bureau reports 325.7 million in population as of 2017.
Is your financial institution designing technology and messaging for the future?
Technology is not a drug. But it might as well be. Recent studies show technology is not only changing how we perform tasks, it is affecting our thoughts, desires, and behaviors - especially those of so-called "digital natives".
Consumers’ lives are moving to digital – whether they want it to or not. Beyond the ever more prevalent texting, tweeting, Facebooking, Googling, and Snapchatting (notice the move from brand/network to verb?), political activism, clubs, community events, and even activities with family and friends have made the move to online. Paper invitations, postcards, and reminders are slowly headed toward retirement – landing squarely alongside pay phones, landlines, and the paper check.
OR Why the Cross-Sell Matters
Your account holders want personalized offerings. It’s true. In fact, research from Accenture Interactive, a research and consulting firm focused on building business success, which polled over 1,500 consumers 18-60 from the United States and United Kingdom, over half (58%) of people are more likely to purchase with a business that recommends options for them based on past activity.
If you are a bank or credit union marketer and haven’t attended The Financial Brand Forum I have to say, you’re missing out. I have had the pleasure of seeing this event grow from it’s very beginning - as a small conference hidden away in the bowels of Caesars Palace to one of the largest shows in the financial space. And the success is well deserved. The Financial Brand Forum, from its inception, has striven to provide quality, relevant content with unique insights and information to inform and update the financial industry on marketing strategies, best practices, and the latest technologies.
ATMs may not be considered exciting but they have certainly become part of the standard fabric of our lives. Whether traveling, budgeting, or simply heading out with friends - most consumers continue to rely on convenient access to cash through a nearby machine.