CHECKING ACQUISITION – A UNIQUE MARKET OPPORTUNITY
The world of consumer checking as we’ve known it continues to transform– driven by regulatory change, consumer expectations, innovation, and the need to replace lost revenues. As the big banks introduce new checking structures, along with new requirements and fees, consumers are voicing their displeasure.
Not only are consumers seeing their “free checking” accounts disappear, but the past couple years of big bank bailouts and negative press about overdraft fees and debit card interchange has heightened awareness, and created a climate of change.
While much of the uproar will likely subside, and the hassle of moving accounts will result in the usual consumer inertia, there has never been a more opportune time for community-based institutions to acquire new relationships.
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