Bank Switching In 2012: Giant Banks Remain Highly Vulnerable

As Customers Weigh Fees And Convenience

June 2012

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Valuable Customers are Vulnerable

Bank Transfer Day was a Bust!

Javelin’s 2012 FI Vulnerability Index identifies: • 11% of consumers with primary banking relationship are likely to switch

banks

Estimated $675 billion in deposits “in play”

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Giant Banks are Higher Risk of Vulnerability

Likely to lose twice as many customers

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Key Actions FIs Should be Asking Internally

Large Banks • How can big banks leverage their mobile channels to create loyal and

satisfied customers?

• How do I bridge the two worlds of face-face and electronic channels, and retain my current customers and acquire more?

Community/Regional Banks • What strategies do smaller banks need to implement to reap some of the

$675 billion in deposits at play

Credit Unions • How do credit unions leverage the value of being a trusted partner with

consumers and compete against fewer branches than larger FIs?

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Javelin Bankographic Benchmark™ Service: Likelihood to Switch Primary FIs in Next 12 Months

CITI AND BOFA ARE AT THE HIGHEST RISK OF BANK SWITCHING

FEES SPUR CUSTOMERS TO SWITCH; CONVENIENCE KEEPS THEM SATISFIED

Why Consumers Switch

Vs.

Why They Stay Put

Bank Switching In 2012:

Bank Switching in 2012: Giant Banks Remain Highly Vulnerable As Customers Weigh Fees And Convenience

This 31-page report assesses the prevailing attitudes of consumers toward staying with or leaving their primary FIs. Based on three online surveys, it prescribes the specific strategies that FIs of all sizes can use to compete for consumers likely to switch. How vulnerable is the U.S. banking system to switching by customers — and which banks are at

greatest risk?

Why do consumers switch primary FIs, and why do they stay?

What should giant banks, regional banks, community banks, and credit unions do to attract or retain vulnerable customers?

What role does mobile banking play in the consumers’ decision to switch or stay?

To learn more about this report: https://www.javelinstrategy.com/brochure/255

More Information?

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Javelin Strategy & Research provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies,

merchants and other technology providers. © 2012 Javelin Strategy & Research.