SAN ANSELMO, Calif. -- Market Rates Insight, Inc. (MRI, http://www.marketratesinsight.com), a leader in pricing intelligence for deposits, personal loans, mortgages, and fees, recently conducted the first nationwide consumer study to understand consumer attitudes about fees paid for banking services. The study has uncovered a new category of lifestyle financial services that consumers are willing to pay for, and is now available at a 10% discount to community banks through an exclusive relationship with the Independent Community Bankers of America (ICBA).
The study from Market Rates Insight reveals new ways community banks can compete more effectively and promote greater customer loyalty by offering services that consumers want and are willing to pay for. The Lifestyle Financial Services study reveals that customers will pay, on average, 3.63 per month each of the seven services that deliver convenience, efficiency, mobility, and protection. For example, 63.4% of those surveyed indicated they would spend up to 2.37 per month for mobile remote deposit capture services, and 73.7% said they would pay 3.39 per month for credit score reporting.
Income from service fees on deposit accounts declined 13% between 2007 and 2012, so now more than ever, community and regional institutions need to develop new ways to attract and keep customers, said Dr. Dan Geller, Executive Vice President of Market Rates Insight and the architect of the study. Our emerging Lifestyle Financial Services study reveals that consumers want services, such as mobile deposits and personal money transfer from their financial institution. By working directly with ICBA, we can help community banks identify new sources of fee income as well as help promote customer loyalty.
ICBA members now can buy the Lifestyle Financial Services study at a special ICBA rate. They study is available in various forms:
- The complete study, including
consumer research, likelihood of use, perceived value and competitive analyses for the top five U.S. banks, at a discounted price of 4,455.
- The consumer research on all seven categories of Lifestyle Financial Services, including an analytic overview, at a discounted price of 3,105.
- The consumer research for one specific type of services, such as credit score reporting, identity theft services, personalized couponing, prepaid loadable cards, overdraft transfer services, person-to-person payments, and mobile remote deposit capture, for 895 each.
Each study report features consumer research on preferences and perceived value, as well as demographic segmentation.
For more information, contact Market Rates Insight at firstname.lastname@example.org.
About Market Rates Insight
For more than two decades, Market Rates Insight (MRI) has been helping clients price with precision by providing banks, thrifts, credit unions, and other financial institutions with comprehensive market intelligence on deposits, loans, and fees. MRI uses deposit surveys, mortgage and consumer loan surveys, fees and features studies, new product alerts, benchmarking and market share analysis to give subscribers the intelligence needed to strategically position products, optimize pricing and react to emerging trends. MRIs products include web-enabled, customizable report programming, proprietary product research tools, searchable databases, market alerts, and online dashboards that aggregate key client data to provide real-time interactive views on how they rank against their specific competitors.
Market Rates Insight is located in San Anselmo, California. For more information, see http://www.marketratesinsight.com
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