In the third annual edition of its “The Best Bank for You” report, Kiplinger identifies top picks among national, regional, and internet banks, as well as credit unions, that offer the best combination of high rates, low fees, and a customer-friendly focus. Many of these institutions are customers of OrboGraph, so it’s is great to see how our recognition and fraud prevention technology can enhance the customer experience.
The report focuses on five different categories of consumer clients:
- No-Fee, No-Fuss
- Families with Students
- High-Net-Worth Families
- Frequent Travelers
Kiplinger introduces their list with sage advice:
To settle on the kind of bank that suits you now, ask yourself a few questions: Do you prefer to interact with tellers and advisers at a branch, or are you fine handling transactions with a computer or smartphone? Do you chase the best yields on deposit accounts, or do you prioritize features such as an extensive ATM network and access to wealth-management services? Do you keep enough money deposited that you don’t worry about meeting balance minimums, or are free, no-minimum accounts a must?
In addition to learning which specific institutions and brands are having success in various consumer “tracks,” the Kiplinger list also reinforces the value of careful consumer activity tracking and anticipation of needs via AI solutions. While “all online” banking is growing, the increased risk of fraud is still being addressed and making consumers wary.
The truth is, most bank customers do not “self-identify” in one of the categories Kiplinger has delineated, but can indeed be accurately categorized and therefor effectively marketed to via AI analysis of their transactions and financial product activity. Self learning and deep learning technologies around check are now available to enrich the customer experience and identify cross-sale opportunities to get the right products and services to the right people!
This blog contains forward-looking statements. For more information, click here.