Being a “customer-centric company” doesn’t mean delivering the absolute best value propositions to customers.
It means being honest with customers about the limitations of the value propositions that we can ethically deliver.
A thread...
I don't think banks and credit unions have any clue that consumers are redirecting $250 billion in payments to other providers. That's ~$2.5 billion in lost revenue.
https://t.co/dqkU67vuld
New #FintechSnarkTank post
@SpirosMargaris@sammaule@ForbesTech
I have 3 new FREE reports out in the past week:
Digital Sales: Benchmarks & Best Practices
https://t.co/rw1lo8Wyx7
Americans’ Shadow Financial Lives:
The Mobile Apps Banks Don’t Know They Use
https://t.co/KfQt7o4fRW
2021 Mobile Deposit Benchmarks
https://t.co/hmTONuyPTQ
“Fintechs pride themselves on putting the customer at the center when designing products and building experiences, and relative to traditional banks they do this extremely well. But great UX doesn’t guarantee great customer outcomes.” 👏 @jentescher
https://t.co/yOv75W8iSR
Shawn Achor, NYT bestselling author & positive psychology researcher, joined MX to give practical tips about how happiness habits can lead to a better life at work & beyond. #OffScriptwithMX
Read our takeaways & watch on-demand now:
https://t.co/peRamUL3Og
MX Technologies, one of the largest providers of consumer financial data, said its valuation has quadrupled in the last year to $1.9 billion https://t.co/6D0zdaKmSi
Sharing a few highlights from today's Digital Book Chat with bestselling author @helaineolen . 📚 @Jane_Barratt lead the discussion on Olen’s book, The Index Card, describing it as: “Brilliant in simplicity & lack of blame & shame that oftentimes follows personal finance advice.”
Join journalist & author, @helaineolen, for a fireside chat with our Chief Advocacy Officer @Jane_Barratt on Thursday, Nov. 19.
We'll focus on her book, The Index Card, and how to gain clarity in the noisy world of #personalfinance advice.
Save a seat: https://t.co/AghkzwYnxc
"most Americans can't pay a $400 expense" is commonly quoted (particularly in pitch decks!) but NOT TRUE.
The media went crazy misinterpreting a study from the Fed.
It came from the stat "only 60% of Americans would pay an unexpected $400 expense with cash equivalent." 🧵👇
When financial institutions don’t innovate alongside their competitors, they risk stagnated growth or going bankrupt. Keep in mind that only one generation needs to make the switch to digital banking en masse, and the traditional model will be irrelevant.
https://t.co/blwtDOFOCa
Want to help end the racial wealth gap? Hear @MehrsaBaradaran speak about her book The Color of Money at #MXS2020.
We're just a week out, so save your seat to connect with top leaders in finance and fintech on September 1-2: https://t.co/eGDxYusfvH
Here’s how we built a custom app in one weekend, partnered directly with the Small Business Administration, and have processed over $5 billion in small business loans, helping to save thousands of jobs. https://t.co/poUYDvwdrC
"Banks will compete not on who has the best rates and fees, but how well they help consumers improve their financial health." --me, June 2016
"BBVA’s new strategic plan is focused on helping clients improve their financial health" --BBVA, Feb 2020
https://t.co/YYZwCaW6rN
The compound anxiety that millions of people are experiencing is heartbreaking and terrifying. A housing crisis within an employment crisis within a health crisis.