Table of Contents Introduction to Financial Services Marketing The Role of Behavioral and Transactional Analytics Case Studies: Success Stories in Financial Services Marketing Digital Experiences and Customer Loyalty Targeted Marketing Strategies: Reaching the Right Audience Building Trust through Effective Marketing Campaigns The Importance of Quality Data in Marketing Decisions Conclusion: Key Takeaways for Financial Marketing Managers   Introduction to Financial Services Marketing In the fast-paced world of financial services, the landscape of marketing is continually evolving. With ..read more

The banking sector faces a myriad of challenges and opportunities in today’s digital age. Customers are more informed, demanding, and have more choices than ever before. In this competitive and complex environment, banks need to find innovative ways to stand out and meet customer expectations. Insight Financial Marketing (IFM), with its unparalleled expertise in transactional and behavioral analytics, highlights the critical role of customer behavior analysis in achieving these goals. By understanding the nuances of how customers interact with financial products and services, banks can tailor ..read more

How many of your customers are flirting with competitors by moving their deposits or opening credit elsewhere? A recent headline from the popular financial services industry publication, The Financial Brand, “Memo to Bankers: Your Customers Are Cheating on You”, insightfully states “Even though your customers haven’t closed their account, they might be well beyond flirting with your rivals. What’s your plan to revive the relationship?” According to the article, this is happening at an increasing rate. So, what is your FI’s plan to “revive customer relationships”? How can IFM help your financia ..read more

The Walmart Bank As if technology giants like Apple and Google weren’t enough competition for the nearly five thousand banks and thousands of credit unions in the United States, Walmart plans to launch a “checking account” of its own. There has been much speculation over the years regarding Walmart entering the financial services industry and in many ways, this has already happened with the various financial services offered to its customers through partnerships.  These include money transfers, pre-paid debit cards, and the ability to cash checks at stores across the U.S. What does this m ..read more

Recent studies showed that 52% of consumers expect their offers to be personalized, and 62% want firms to anticipate their needs. This is excellent news for financial institutions who are looking to leverage innovative approaches to understanding their clients better while deepening their engagement. Now is the time for your FI to gain a competitive advantage by capitalizing on the power of personalization by offering a more user-centric and solutions-based experience for your customers. To do that, though, you have to understand the power of personalization. Let’s discuss the concept in more ..read more

Credit Bureaus have been a bedrock of the financial services industry for decades.  Their insights on a consumer’s creditworthiness and willingness to repay a loan have proved their value a hundred-fold over the past 50 years. However, their ability to measure the creditworthiness of all persons is limited due to various reasons from the lack of reporting to the bureaus to the rapidly changing ways consumers conduct payments and other financial transactions and the explosion of non-traditional financial organizations. A combination of innovation, technology, and immigration patterns and p ..read more

20 years of innovation, development, and trustworthy business practices mark the milestone. IFM’s services provide financial institutions with large-scale transactional analysis and consulting identifying opportunities to help strengthen and grow their client relationships. Founded on July 16, 2002, IFM began analyzing Automated Clearing House transactions for marketing purposes and fraud detection, considered a unique capability by the financial services industry. Over the years, IFM developed an extensive and sophisticated processing methodology for translating and categorizing transactions ..read more

As the U.S. economy slowly emerges from the impacts of COVID-19, many individuals are re-opening their small businesses, others have left corporate jobs to start businesses, and many recently retired baby boomers started micro-businesses as a way to help supplement retirement income.  For traditional financial institutions, there are many opportunities to become the primary bank for these small businesses.  Traditional financial institutions are readily equipped to service these small businesses with checking accounts, credit cards, business loans, and merchant services.&nb ..read more

Right now, the transactional profile of a consumer checking customer at financial institutions across the US is likely to include a P2P account with either PayPal or CashApp and a newly established Coinbase account as customers’ education and investment in cryptocurrency continues to grow.  They are making regular monthly payments to a SoFi student loan, Rocket Mortgage, or Prosper personal loan, many are using their Apple credit card, and are regularly adding and storing money onto their Starbucks or Dunkin apps.  From a small business customer perspective, many are using QuickBooks ..read more

In 2020, At the height of the COVID-19 pandemic, Insight Financial Marketing held a webinar titled, Outlook for the Future: Bank Strategy During COVID-19 and Beyond. From our discussion, it was clear how big of a role technology played in economic recovery.  We also saw banks receive increased deposit balances, as CARES Act-related assistance was disbursed to consumers and businesses. This year we felt it was only fitting to share an update regarding the same topic, looking at bank strategy amidst the continuing impact of the pandemic and beyond. In the presentation, we put a spotlight o ..read more