Comments on: Why Do People Switch Banks?

By: Otabek Saydikaharov

Otabek Saydikaharov — Mon, 15 Oct 2012 21:19:35 +0000

Useful post with great title – “Why do people switch banks?” ! This question not only triggers interest of bankers but anybody in the banking/financial sector.
According to the recent study by Bankfutura, PFM is found to be one the core reasons for people switching their banks. The study figures showed that 45% of the Germans are ready to change their banks in order to have PFM services offered by the banks. This figure is higher for the Italian customers: 57% of the Italians are willing to switch their banks to get PFM service via banks! This could be very interesting finding for the bankers. The access to the study can be found at http://www.bankfutura.com/our_financial_knowledge_base/personal-finance-management/

By: Otabek Saydikaharov

Otabek Saydikaharov — Mon, 15 Oct 2012 16:39:53 +0000

By: Philip Ryan

Philip Ryan — Fri, 12 Oct 2012 16:47:51 +0000

Ron, my source for the 3 out of 4 figure tells me that the number came from an Alix Partners study that identifies mobile RDC (“mobile” used here to distinguish from desktop RDC) as the biggest mobile driver of bank switchers. The study actually says that of the 65% of bank customers who are “at least somewhat likely” to switch banks, mobile RDC is the biggest driver. Thanks for pointing this out. I’ll make a note in the original post. – Phil