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Is Your Financial Institution Any Different? Probably Not.

Sunday, June 16, 2013 - 8:45 AM
From The Financial Brand:
A 2012 essay by Gallup analysts Jai Gill and David Helvadjian says that on-brand behaviors — not slogans — are what truly differentiate banks and credit unions.

When Gallup studied differentiation in the banking sector, only 7% of consumers believed there was “one bank” that was better than the rest. 44% said “all banks and financial institutions are about the same.”

This despite the fact that financial institutions invest enormous amounts of time and money in crafting what they think is a unique identity — something special, singular and deeply resonant. They say they care about their customers. They brag about their “first class customer service” and “smart banking solutions.”

So what’s the problem?

That’s pretty much what every other bank and credit union says.

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To borrow from Emerson:  "Who you are (what you do) speaks so loudly I can't hear what you are saying".
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