People's United in Connecticut pored over all the customer data it could find to persuade customers to give the midsize bank — instead of advisory firms and investment houses — a shot at managing their money.
A new survey from J.D. Power shows that customers of digital-only banks, such as Capital One 360 and Ally Bank, are less satisfied with their banks' mobile channels than they were a year ago. Declining satisfaction among younger consumers is driving that trend.
Fair Financial, a digital banking platform developed by a Twin Cities nonprofit in partnership with a local bank, launched a pilot program this week. By 2020, it plans to serve 5,000 customers across the country.