Many discuss switching costs in banking and an emphasis on "sticky" products.
An interesting article shared some factors influencing people to switch banks. They are...
1. Better rates
2. Banks that won't go bust
3. A bank owned by its customers
4. Split between retail and investment banks
5. A Bank that lends its own money
6. Online and mobile services
Read the full article HERE.
It is an interesting thought that whether or not a person is an "owner" of the bank influences whether they bank there or not. I have more thoughts on this coming in my next post.
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