A New Study Indicates What Makes Members Switch Financial Institutions
Tina Orem, in a July 26, 2019 article in cutimes.com, reports that consumers are more likely to switch financial providers if certain conditions exist. Input from friends and family ranks high as does honest disclosures of fees, services and rates. Financial institutions need to constantly have their fingers on the pulse of member satisfaction and the possible impact member satisfaction will have on growth and earnings. There are monthly reports available that take little time to review and that quickly indicate changes in earnings and growth and serve as early warning signs that objectives are not being met.
TCT Risk Solutions has a number of management tools useful for tracking profitability and goal achievement. One such tool TCT clients find helpful is its Vital Signs monthly report, where a number of key data are tracked, and progress can be assessed in a matter of minutes.