USAA Labs appears to be doing some really good work. However, the brand is not doing a good job at marketing its own product, representing a missed opportunity to harness customer interest and advocacy.
The financial services industry has seen a long line of “disruptors” emerge in the last decade. Often created by and for the Millennial market, these app-based payment and banking brands seek to simplify and streamline “traditional” banking products. These companies are not only providing alternatives for a generation that doesn't really trust big banks but also figuring out how to evolve with the changing needs of their loyal users.
Recent offers -- including partner discounts and rewards points bonuses that are easy for customers to earn -- make it clear that Chase wants its cardholders to not only *get* Chase Pay but actually *use* it.
Contactless payments have been something of a white whale for close to 20 years now: always out there, just about to catch-on, if only… But now, the majority of all in-person transactions in the U.S. take place on contactless-enabled terminals, customers are ready for a faster checkout *and* the nation’s largest issuer of credit cards recently announced plans to roll out 100 million contactless cards in 2019.
The new campaign from American Express embraces the history of the brand while breaking from a long tradition of celebrity endorsements. In this execution, instead of seeing Tina Fey at the center (literally) of the spots, we see customers. Importantly, Amex embraces both consumer and business products with the dual-purpose tag line “Don’t Do Business / Live Life Without It.”
Banks spent many years supporting development of Zelle but only recently began a major push to integrate and promote it.
Co-brand credit cards are supposed to be extensions of the master brand. It’s considered best practice to integrate elements all while creating a distinct product that consumers will want to use “off brand.” Amtrak excels at this in ways we don't always see.
The Wall Street Journal recently reported that credit scores have reached a record high and that “the average credit score nationwide hit 700 in April.” We make a few guesses about what that means for payment cards and card marketers.
Cardless ATMs are among those “banking innovations” that have been long-touted, but so far failed to break though. However, with Bank of America, Chase and Wells Fargo all making strong pushes to adopt this, 2017 could be the year of change.
When we look at three landing pages we see a certain amount of “keeping up with the Joneses” at play in the marketing. It's smart marketing to give your customers options, and that is exactly what these issuers are doing.