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What factors influence your decision of where to put your money?
business banking financial financial services financial management idea generation consumer insights
$1,600
top 25%
121
submissions
DONE
50 days ago
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In recent years, a large number of digital players have emerged in the banking space which has given consumers more choices for where to "park" their money. Many of these digital players market themselves as "non banks" and have been especially effective at convincing younger generations to become customers. As expected, this has resulted in a decline of deposits for traditional banking institutions.

In this changing landscape, we are interested in better understanding the main factors you consider when deciding where to keep your money. 

Deliverables

Please respond to the following questions:

1) What factors convince you to place your money with a particular organization?

  • What specific economic incentives are important to you?
  • What non-economic benefits or incentives are important to you?
  • What are your main worries when choosing where to "park" your money?

2) How do you want to receive advice from the financial institution that holds your money?

  • What advice topics would you prefer to receive in a format that lets you read/review on your own? (ex. email, newsletter, guides, etc.)
  • What advice topics are specific to you where you'd rather interact with a real person?

3) What financial institutions are doing a good job at convincing younger generations to place their money/trust in them? Why is their approach/messaging effective?

    Submissions will be graded on the following criteria:
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