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Banks Not Effectively Selling to New Customers in 2017

While super regional banks far outpace regional banks in consumer household acquisition – growing almost two new households for every one that a regional bank gained – these banks saw a 3% decline from the previous year compared to a 6% increase in the consumer household acquisition for regionals.

Once a new consumer was in the branch, regional banks sold 1.55 accounts to that household in the first 90 days, whereas super regionals sold 1.39. Both rates declined in 2017 from the previous year.

As potential customers continue to explore online account opening, branches must take advantage of in branch arrivals to effectively and properly on-board new customers.

 

For more information, contact Novantas Marketing

+1 (212) 953-4444


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