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Patrick Bator (Retired)

Senior Research Analyst

Patrick Bator has held a variety of roles at Raddon since he joined the company in 1987. He has been a major contributor to Raddon national consumer and custom research programs, has developed presentations for the principals at Raddon, and has written articles for The Raddon Report blog. Prior to joining Raddon, Bator worked in the resource and information department of the Michigan Credit Union League.

Raddon Report author posts

Tuesday, June 27, 2017
Patrick Bator (Retired)

The banking industry continues to look for more precise uses of data to know and better serve consumers. As part of Raddon’s mission to study demographics and consumer behavior patterns, including product usage and spending habits, we regularly look at consumers’ future financial goals.

Wednesday, May 17, 2017
Patrick Bator (Retired)

The home equity lending market has been a difficult one since the 2008 housing market correction. It has taken almost a decade for the market to show some signs of resurgence. Now, both lenders and borrowers are more optimistic about offering and using home equity credit products.

Thursday, December 15, 2016
Patrick Bator (Retired)

Despite the growing popularity of online and mobile channels for marketing and sales, the branch remains a preferred sales channel for opening new accounts. A recent Raddon Research Insights study found most consumers still want face-to-face interaction when they purchase highly valued products, such as transaction accounts, savings accounts and investment products.

Wednesday, November 30, 2016
Patrick Bator (Retired)

Earnings pressure from shrinking net interest margins is compelling financial institutions to explore and cultivate other avenues of noninterest income generation to supplement and sustain their overall earnings. Marketing various wealth management services to customers and noncustomers is one way to earn revenue.

A Raddon Research Insights 2016 study delved into the usage and likelihood of usage of four wealth management services and accounts in order to provide financial institutions some perspective on the size of the wealth management services market.

Thursday, November 17, 2016
Patrick Bator (Retired)

The Presidential election is finally behind us and we have seen, to this point, that the stock market has responded in a positive fashion, perhaps reflecting a belief that the business environment may be more favorable going forward.  However, we must be cognizant of the underlying consumer mindset as we move into 2017.

Thursday, August 18, 2016
Patrick Bator (Retired)

Every generation wonders why younger generations don’t see the world as they do. Many financial institutions may wonder the same thing as they contemplate how to serve the millennial generation. Human evolution makes each generation different from the previous one, yet financial institutions should not consider millennials unchartered territory in terms of financial product and service delivery.

Security in the Palm of Your Hand
Thursday, July 21, 2016
Patrick Bator (Retired)

Biometrics has emerged as an alternative technology to meet the financial services sector’s growing need to combat increasing identity theft and fraud. For purposes ranging from identification to task initiation, biometrics use human characteristics – voice, fingerprints, facial recognition, palm or iris vein patterns – which are difficult to replicate.

Thursday, June 9, 2016
Patrick Bator (Retired)

Given their investment in technology, financial institutions are more than justified to ask questions relevant to what extent they are being shopped online and which consumers are shopping them.  Executives may find the answers to such questions quite surprising.

Raddon Report: Jump in the Stream Using Digital Audio Programming to Reach Millennials
Wednesday, May 25, 2016
Patrick Bator (Retired)

Consumption of media is shifting online, giving consumers access to the music they want and providing financial institutions with a new, more personalized marketing opportunity. Using digital audio programming, such as Pandora® and Spotify®, banks and credit unions can target sizeable audiences by coordinating messaging with consumer musical tastes.

Thursday, May 5, 2016
Patrick Bator (Retired)

With the advent of alternative financial service providers, financial institutions may wonder if there is still value in being a consumer’s designated primary financial institution (PFI). If there is value, what opportunities are there to increase customer wallet share?

Thursday, April 14, 2016
Patrick Bator (Retired)

The credit card industry may very well have created a monster when it began offering rewards to consumers who use their credit cards. Consumers are now used to getting paid to use issuers’ credit cards and for many consumers, the decision to select a particular credit card hinges on the type of rewards offered.

Thursday, March 17, 2016
Patrick Bator (Retired)

The auto lending market looks rosier today than it has for a number of years, with new vehicle sales reaching 17.5 million units in 2015 and auto loan balances increasing to well over $1 trillion at the end of last year. The auto lending market may soon slow, however, due to waning consumer demand and projected higher interest rates.

Thursday, March 3, 2016
Patrick Bator (Retired)

The stock market has experienced a number of volatile fluctuations since mid-August 2015. Much attention has been paid to the underlying causes of these fluctuations, with little discussion of consumer reaction to the instability. Recently, Raddon analyzed consumers’ investment activities during this time.

Friday, January 29, 2016
Patrick Bator (Retired)

Financial institutions that continue to ignore their customers’ technological delivery presumptions and sentiments do so at their own peril. Taking these preferences into account can decrease an institution’s risk of becoming an anonymous transaction engine, instead serving as an encompassing service provider that plays a central role in customers’ financial lives.

Thursday, January 7, 2016
Patrick Bator (Retired)

Financial institutions continue to seek enhancements to provide a more seamless and secure mobile banking experience. One solution is biometrics in the form of a fingerprint scan. Such a biometric application has the potential to provide a more secure way to identify customers as well as enhance the appeal of mobile banking and its accessibility.

Thursday, November 19, 2015
Patrick Bator (Retired)

Although 6 in 10 consumers now own a smartphone, the number of in-store mobile payments in the U.S. has not kept pace. The October 1, 2015 EMV fraud liability shift is enhancing mobile point-of-sale payments and as a result, many in the industry promise a brighter mobile payments outlook.

Thursday, September 17, 2015
Patrick Bator (Retired)

Industry trade publications have devoted quite a bit of ink lately to the emergence and growth of the peer-to-peer lending market. The publications have outlined the merits of marketplace lenders and the regulatory travails the emerging industry faces, as well as opinions from advocates and detractors. Despite the plethora of information, there has been a paucity of opinion from the consumer’s point of view.

Tuesday, June 30, 2015
Patrick Bator (Retired)

Even if they never use it, consumers still value protection on their checking accounts to avoid overdraft and non-sufficient funds (NSF) events – perhaps to the consternation of some regulatory bodies and consumer advocate groups.

Thursday, June 11, 2015
Patrick Bator (Retired)

As reported in the 2013 Federal Reserve Payments Study, consumer noncash payments behavior has become increasingly reliant on credit and/or debit cards in the last 10 years. The study also reveals the number of debit card payments has increased more than any other  noncash payment type, including check, credit card, prepaid card and ACH payments.

Wednesday, May 6, 2015
Patrick Bator (Retired)

Will the U.S. Postal Service (USPS) ever offer retail banking services? In early 2014, the Office of the Inspector General of the U.S. Postal Service began a public dialogue about how the Postal Service could offer retail banking services as a way to promote efficiency.