Andrew Vahrenkamp

It’s been four years since Raddon asserted in our study, Channels and Payments Insights: High-Touch and High-Tech Consumers Are the Norm, that “most consumers … are using electronic channels in addition to, rather than in lieu of, traditional banking channels.” Since then, our research repeatedly has confirmed that consumers like the option of multiple ways of doing business with their financial institutions.

As Gen Z comes of age, financial institutions must adapt to capture business from these digital natives.

It’s no secret that Gen Z – roughly defined as those born in 2000 or after – are digital natives. Ninety-eight percent of Gen Z individuals use a mobile device at least once a day, and 60 percent of them use social media to help make purchasing decisions.

It’s that time of year! Time to prepare for next year and to plan for the annual Raddon Conference, held in Chicago on November 4th to 6th. Given all the uncertainty about the economy and rate environment, we hope to shine a light on the way forward for you. Here are five big strategic questions for us to answer as we plan for 2020:

Marketers and product managers at financial institutions know that a product’s features and benefits can make or break that product. As a result, institutions spend significant time and energy measuring their products’ fit in the competitive landscape.

Every year, Raddon conducts nationwide research of consumers and small businesses to understand their motivations, preferences and behaviors in banking. We include our discoveries in four comprehensive reports: Deposit Insights, Lending Insights, Payments and Channels Insights and Small Business Insights. Subscribers to the Raddon Research Insights program receive these four studies as well as an invitation to a webinar giving highlights and strategic recommendations.

A significant factor in building an institution’s brand is the culture generated by its employees. Managing employees was a key element in several popular breakout sessions at this year’s Raddon Conference. Here are six key takeaways on the topic.

What a Conference!

Another Raddon conference is in the books, and what an event it was! So many factors came together to make it exceptional – insightful keynote speakers, engaging breakout sessions, Raddon Rocket cocktails, reasonably good Chicago weather – that everyone involved had a blast.

If you didn’t make it this year, be sure to plan for next year’s event. In the meantime, here are seven key takeaways from the 2018 conference about the industry and the economy.

Community banks and credit unions have done poorly in attracting Hispanic customers. Andrew Vahrenkamp from Raddon, explains why and offers some possible ways to build relationships with this strong and growing market segment.