4 ways credit card companies have changed their offerings

By | October 17th, 2018|Credit Cards|

The average American has roughly three credit cards in her wallet, each with an average balance of $6354 ($1841 for retail cards). Total US credit card debt tipped over $1 trillion in 2017 and continues to climb at around 5% a year. In other words, things are going pretty well for credit card companies. Or are they? With thousands [...]

Five questions to ask before innovating

By | October 11th, 2018|innovation|

Every so often a new technology comes along that promises to completely reshape an industry and we’re all told to quickly adapt, adapt, adapt. In the case of digital technology more broadly, adaptation has been ongoing for many years now, yet many industries are still struggling to make sense of it all and truly make [...]

Six vulnerabilities in the credit card industry

By | October 8th, 2018|Credit Cards|

The concept of the credit card was originally envisioned by utopian novelist Edmond Bellamy in 1887 in his utopian novel “Looking Backward.” And ever since the first credit card was introduced almost 70 years ago, people have been absolutely crazy for them. The average American has roughly three of them in her wallet, each with an average [...]

From touchpoints to episodes: A new approach to consumer finance

By | September 18th, 2018|Consumer Finance|

From the beginning of time, this is how consumer finance companies have worked: a company sees a need that’s not being met (or something their competitor has done) and they build a new product or offer a new service around it. Then they have a team manage and market that product. At larger consumer finance [...]

When it comes to finance, your customers could use a little help

By | September 18th, 2018|Consumer Finance|

Most people muddle through life without really knowing much about their finances. In fact, when it comes to financial literacy, we have a serious problem here in America. According to Forbes, 44% of us don’t have an emergency fund of at least $400, 43% of student loan borrowers are missing payments, credit card debt has surpassed [...]

Four things consumer finance companies can do to encourage cross-selling

By | September 18th, 2018|Consumer Finance|

As a consumer finance company, you may very well sell the entire spectrum of financial products that a person might need from cradle to grave. The person who got their very first credit card from your company will someday need a home loan. Then a re-fi. Then a 529, a Roth IRA, a 401K, etc. [...]

Five ways consumer finance companies can improve transparency

By | September 18th, 2018|Consumer Finance|

When we do business with a company, we want to know that the arrangement is straightforward and our interests are protected. That requires you to see into the mechanics of the relationship and quickly understand 1) what you’re getting and when and 2) what it will costs you so that you know that the scales are [...]

Why consumer finance companies should go back to the basics

By | September 18th, 2018|Consumer Finance|

Everyone knows that financial services consumers shop on price – the lowest interest rate always wins, whether it’s a mortgage, a credit card, or any other loan, right? Wrong. According to survey data compiled by PricewaterhouseCoopers, an average of 53 percent of consumers value service above the interest rate when it comes to selecting lenders for [...]

What telecoms have to gain by protecting their customers

By | September 18th, 2018|Telecommunications|

3.7 billion people. That’s the number of individuals around the world who were using a mobile device in early 2018, according to a leading statistics company Statista. That’s around half of the entire population of the planet. In addition, the firm reports that the amount of global mobile data traffic is expected to increase sevenfold between [...]

The inescapable link between telecommunications and identity protection

By | September 18th, 2018|Telecommunications|

Digital devices are thoroughly entwined in our way of life, leading some to argue that they have become an extension of ourselves. According to Flurry Analytics, the average American spent five hours on their mobile device per day in 2017, an increase of 69% from 2016. That equates to 24 hours a day for 76 days a year. [...]

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