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Nomis Insights

Why Direct Will Win: What You Need to Know to Stay in the Game


Watch this One-Minute Session Preview

Speaker: Silvio Stroescu, Managing Director of Deposits and Investments — Tangerine
Banking Growth Forum 2016, San Francisco, CA

Direct banks like Tangerine are shaking up the status quo when it comes to customer interactions, but Silvio believes, “We can all win at direct.” In this presentation, he shares his experience in applying deeper customer insights to create price-forward promotional campaigns that drive lasting value and sustainable growth. Among the insights that can help you stay in the game:

  1. In an age of digital transformation, “you don’t have to do something wrong to lose,” so successful banks need to focus on the goals of the consumer when they design products.
  2. Leveraging deeper analytic insights about customer behavior enables banks to move beyond a one-size-fits-all promotional strategy, which for Tangerine meant exceeding new money balances by as much as 27% compared to previous promotions
  3. A customer-focused change management approach means not only getting buy-in from executives and staff, but actually engaging executives in first-hand customer interactions.