Anatomy of a Banking Customer

six consumers of different ages and races stand against a white background
By Vericast

15 minutes

Head-to-toe insights for generational marketing

Consumers today have more options than ever before.

They also have greater access to a vast amount of data and information. This means competition is fierce, for both consumers’ attention and their business. To survive in this highly competitive landscape, credit unions must likewise acquire and use their own data to gain a deeper understanding of what their members need and want from them. Only then can credit unions take the necessary informed steps to serve their members, build lasting loyalty and boost their bottom line.

Vericast’s Awareness-to-Action Survey, from November 2022, probed people to learn more about what they’re looking for from their financial institution. The results revealed a range in the preferences for key demographics, which highlights the importance of segmentation and personalization. The key takeaway is this: One size does not fit all.

When you consider that 70% of people rate personalization as “highly important” to their banking experience, you gain an appreciation for how indispensable it really is.

This report shares the unique consumer characteristics for key areas of banking, from head to toe, to give financial institutions a full view of their preferences.

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