Marketing Trends for Banks and other Financial Institutions

get link As a nice update to our own musing on the state of banks and their marketing, Popsop.com has released an interesting article called “Marketing Trends in Banking and Financial Sector in 2015“.

What is it about? The article boils recent developments in retail, digital and consumer behaviour down to three trends:

source link 1. Further retailization and virtualization of high street banking: “More and more banks tend to become friendly places like retail shops rather than intimidating serious places where you can understand very little.”

2. Further digitalization for convenience and reducing costs: “To keep up with the growing customers’ demand and anticipation, banks accelerate the uptake of digital technology.”

3. Millenials and cause-driven financial services: “Despite a common social myth that Millenials are careless about money, … Millenials share the same attitude to personal finance as their grandparents.”

Read the article, it’s worth it. And while you’re at it: Check out NatWest’s “Living” project on designboom.com, a project that aims to redefine the bank-customer relations (and where we stole the cover image from).