Mark Egan

Dec 3, 2024 | creditandcollectionnews.com | Mark Egan

As the marketing landscape evolves, more banks and credit unions are rethinking how they use customer data. With the digital marketing industry continuing to phase out third-party cookies and consumers showing a growing preference for privacy, institutions are beginning to explore the untapped potential of first-party data. The shift offers opportunities to enhance customer relationships and improve marketing effectiveness.Regulatory changes are also shaping this moment.

Dec 3, 2024 | thefinancialbrand.com | Mark Egan

The CFPB's new open banking rule hammers home the implications for financial institutions of digital marketing's long retreat from third-party cookies: How we got here and what's coming next. Facebook Twitter LinkedIn Email Print As the marketing landscape evolves, more banks and credit unions are rethinking how they use customer data.

Oct 29, 2024 | cuinsight.com | Mark Egan

Now that the U.S. Federal Reserve has finally started to cut interest rates to achieve an economic soft landing, expect activity to ramp up at banks and credit unions as consumers and businesses adjust their finances to reflect the new reality. Some will seek high-rate CDs while they’re still available, others will want to consolidate credit card debt, and mortgage activity may pick up, too.

Oct 29, 2024 | thefinancialbrand.com | Mark Egan

The Federal Reserve's pivot to cutting interest rates presents a complex landscape for financial institutions, combining fresh opportunities with heightened risks. While lower rates typically spark increased lending activity, banks face unprecedented challenges: credit card delinquencies have hit a 12-year high, and nearly 40% of cardholders have maxed out cards since rates began rising.

Oct 28, 2024 | cuinsight.com | Mark Egan

Understanding and managing attrition is vital for most businesses’ long-term success — impacting revenue, profitability, and overall growth. But it matters especially in competitive categories like consumer financial services, where differentiation is low and customer acquisition costs are high. Banks and credit unions lose on average nearly 15% of customers and members each year, according to industry reports and studies. For many it’s a more-than-stubborn challenge.