Will Banks Remember, Remember the 5th of November?
Image from: Bank Transfer Day / Shutterstock There’s been a lot of talk recently about November 5th, the unofficial “leave your bank” day, a grassroots effort against large corporate banks who aim to replace the revenue they were getting from small business with new user fees. I decided to take a look at the Facebook page surrounding the “Bank Transfer Day” campaign and found that it has already garnered over 28,000+
Two Opportunities to Encourage Mobile Banking Adoption
Last month, Compete released the results of its Q3 2010 Smartphone Intelligence survey. One of the notable insights from the survey is that mobile banking usage is on the rise, with 40 percent of respondents reporting using mobile banking apps once a month or more. However, with only 6 percent of consumers using mobile banking apps daily, we also noted that mobile banking is not yet part of the consumer’s regular routine.
Hopeful for Revenue from New Prepaid Cards, Big Banks Can Deploy Multiple Marketing Strategies to Drive Online Awareness
Traditionally, big banks have not focused on the prepaid card market, typically comprised of low income consumers seeking a checking account replacement. But as new federal restrictions on debit cards threaten a significant source of revenue, financial institutions such as Bank of America and U.S. Bancorp are wading into prepaid waters. Capital One has been one of the few traditional banks offering prepaid cards. And of all the banks offering