Tax refunds are filling the pockets of American consumers, providing banks with a brief opportunity to capture those funds.
The industry slowed the focus on selling to existing customers in 2017. On average, the rate of cross-sell was down close to 10% from 2016’s high of 17.2 asset or liabilities products sold per every 1,000 consumer households.
Banks saw large declines in both acquisition of new consumer households and in the effectiveness of selling products during 2017 – down over 4% each. Dive into the details
While balance origination per branch was essentially flat year-over-year (< 1% increase), dollar productivity increased 1.5% due to a drop in FTE. Dive into the details
Branch-based product sales are at the lowest levels of the past four years, down 6.2% from 2016, and were met with a 5% drop in productivity.
Transaction volumes are declining at a faster rate than teller productivity – 4.9% versus 1.2% respectively – highlighting the difficulty banks are having removing teller FTE from their staff. Dive into the details