Why Do People Switch Banks?
About two months ago, I changed the tagline on this blog. Thanks a lot for noticing [sarcasm].
Google it. It’s a line from a Grateful Dead song, but it perfectly fits the tone and content of this blog — uncovering and dispelling the delusions that many people have about marketing and financial services.
One of the delusions that needs to be dispelled is why people switch banks. In a recent Bank Innovation TV clip, a claim is made that three out of four people would leave their banks if the bank didn’t offer remote deposit capture (mobile RDC to be more precise, although I didn’t really know there was a difference).
I don’t know the source of that statistic, but whoever made it public should be forced to debate Joe Biden (that’s a pretty painful punishment, no?).