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Banks Prioritize Nurturing Talent & Teams

New data finds more than half of all bank CEOs say that retaining and engaging employees remains their top priority Despite news of layoffs by ...
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Consumers Gravitate Toward Strong Bank Brands

New data and influence rankings show how brand drives business for institutions of all sizes  As more than half of consumers in Canada report they ...
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Consumer Trust in Banking Remains Resolute

Benchmarking report finds that consumers trust business more than any other institutional category, at a time when trust in banking relationships is also on the ...
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Sharing Successes

As the annual list of Best Banks to Work For 2023 ranking is released by American Banker, one consistent theme runs across financial institutions of all sizes. Banks that focus on building more engaging employee experiences do better in the short and long term to attract and retain talent AND deliver better customer experiences at the same time. “There are areas where organizations can bring together customer experience and employee experience to drive improved business outcomes,” according to a Financial Brand article about employee engagement. But how are successful institutions doing it?  

One inspirational bank that landed the #3 spot on the list for institutions with more than $10B of assets is Origin Bank. This Louisiana-based financial services leader takes employee experience so seriously that they conduct quarterly confidential surveys of all staff members to ensure their culture is being reflected and integrated across the brand – from top to bottom. “What has always been at the center of who we are as an organization is our deep commitment to culture,” says Drake Mills, Origin’s chairman, president and CEO. “We have a passion to be there for our employees, customers and communities when they need us most.”  

Click here to find out more about how banks are building better experiences for their employees.

Data You Can Use

0 %
Of Gen X banking consumers are open to finding a new primary bank in the next year
Data

The Story: 

At a time where consumers of all ages report feeling financial pressure, one often overlooked generational cohort has risen to the top as an exceptionally stressed demographic. Data from Pew Research Center finds that 54% of Gen X Americans in their forties are wedged between two other generations and providing financial funding for both. This “sandwich generation” supports both an elderly parent over the age of 65 and a dependent or adult child. And although the generation is in their prime earning years, money takes a mental health toll on 60% of them, according to BankRate. These realities have Gen X looking at all of their options.   

The Takeaway: 

Given the strain on Gen X finances and time, banks have a real opportunity to deepen relationships with current customers and create new connections by providing real time, relevant and responsive solutions to their needs. “Life stage understanding and awareness is key to supporting Gen X in their banking experience in 2024,” according to the Financial Brand. “Banks should consider catering to this group to ensure they have both the customer support they need as they balance multiple checkbooks and timelines, as well as access to solutions that can make banking easier.”  

Sources: Financial Brand, “Trends 2024: Four Banking Growth Strategies for a Challenging Year,” January, 2024, Pew Research Center, “Americans in Their 40s Are Sandwiched,” April, 2022, and BankRate, “Americans Say Money Negatively Impacts Their Mental Health,” May, 2023 

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