It can be difficult to educate consumers on the importance of taking control of their finances. With so many management tools available and advice coming from every direction, consumers may not know who to listen to. Banks can take this opportunity to demonstrate to their customers how important managing finances and accounts can be, and how to best utilize the tools available.
BankAtlantic in Florida recently explained to their customers:
“Not checking up on your personal finances is like driving a car without a dashboard – you don’t know how fast you’re moving, how much fuel you have or how far you’ve gone.
But with a “digital dashboard” on your computer, you can get a concise, consolidated view of your progress – everything from credit card balances and how much is in your savings account to bills that are due.”
BankAtlantic used the analogy of driving to draw a comparison that using the online banking digital dashboard with FinanceWorks was like driving a car well-equipped with all the right safety features. Banks and Credit Unions can take a cue from BankAtlantic and remember that at times, offering beneficial tools isn’t enough; financial institutions must demonstrate the need and communicate how their offerings best serve their members and customers.
You can read additional information on Bank Atlantic’s Website here.
How are you helping customers and members to understand the importance of financial management? Tweet at @Bankingdotcom or let us know in the comments below.
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