Understanding the überbanked consumer – ATM Marketplace article

atm marketplace logoThere’s a new word in the banking world for “millennial”. A word that sums up a trend that financial institutions have been observing for some time now:

überbanked (uebər baŋkt) adj. 1 lit., over- or beyond banked 2 A phenomenon occurring within the banking industry whereby the traditional value of the financial institution as a central trusted intermediary is being eroded by new models of technology-to-consumer exchanges.

This new breed of financial services consumer is shaking up the banking industry on a grand scale and forcing traditional FIs to rethink the expectations and experience of a new and very different kind of customer — or face the possibility of losing more than one-third of their market share by 2020, according to statistics from Accenture.

Where this überbanked rethinking could lead was the subject of “5 Awesome Ways to Improve Customer Engagement,” a Tuesday morning webinar presented by INETCO and ATM Marketplace.

Read the article from ATM Marketplace to find out how to win überbanked customers over, one transaction at a time.