Why XX Should Mark the Spot of Your Banking Outreach

banking new england jan feb bruce paul
Image Source: Banking New England Jan/Feb 2019

In the latest issue of Banking New England, Bruce Paul discusses why community banks and credit unions need to make sure they are doing what they should to cultivate female customers.

Banking New England takes a look at both the importance of women as bank customers and how banks can solve the gender problem in leadership.

Customer Experience Solutions analyzed over a half million reviews from men and women to discover differences by gender in banking across the region.

Read the full article in Banking New England Jan/Feb 2019.

Is Your Community Bank Reaching the Women in Your Community?

More women are living independently, opening local businesses, and taking leadership positions in businesses around the community. So, what can a community bank do to make sure it provides the right kind of support and value to attract these decision-making consumers?

According to the IDF, women entrepreneurs are “changing the face of the global economy,” representing more than 30 percent of registered businesses. And according to HBR, women control about $20 billion and earn about $18 trillion, making them powerful consumers. Through our own research, we discovered that when women find the “right” bank – a bank where they feel treated with respect – they are less likely to change banks.

How Can Community Banks Attract Women?

Is Your Banking Technology Up to Date? According to our research, women are much more banking-tech savvy than men:  33-percent are more likely to prefer online and mobile over branch and phone.  And that gap is widening, as women are shifting faster than men to online and mobile banking.

Are You Offering Women Opportunity? According to the IDF, women may own more than 30 percent of the businesses in the world, but less than 10 percent of them have access to the funding they need to grow their businesses. Supporting women in business can help make your bank more appealing.

Continue reading “Is Your Community Bank Reaching the Women in Your Community?”