1) According to a 2012 report, 11% of consumers with a primary banking relationship were likely to switch banks that year, putting an estimated $675 billion in deposits at risk. 2) Large banks like Citi and Bank of America faced the highest risk of losing customers to bank switching due to fees charged. 3) To attract and retain customers, the report recommends that banks leverage mobile banking and bridge online and in-person services, while smaller banks and credit unions emphasize personal relationships.

1. Bank Switching In 2012:
Giant Banks Remain Highly Vulnerable
As Customers Weigh Fees And Convenience
June 2012
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2. Valuable Customers are Vulnerable
 Bank Transfer Day was a Bust!
 Javelin’s 2012 FI Vulnerability Index identifies:
• 11% of consumers with primary banking relationship are likely to switch
banks
Estimated to edit Master title style
Click
$675 billion in deposits “in play”
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3. Giant Banks are Higher Risk of Vulnerability
Likely to lose twice as many customers
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4. Key Actions FIs Should be Asking Internally
 Large Banks
• How can big banks leverage their mobile channels to create loyal and
satisfied customers?
• How do I bridge the two worlds of face-face and electronic channels, and
retain my current customers and acquire more?
 Community/Regional Banks
• What strategies do smaller banks need to implement to reap some of the
$675 billion in deposits edit Master title style
Click to at play
 Credit Unions
• How do credit unions leverage the value of being a trusted partner with
consumers and compete against fewer branches than larger FIs?
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5. CITI AND BOFA ARE AT THE HIGHEST RISK OF
BANK SWITCHING
Javelin Bankographic Benchmark™ Service:
Likelihood to Switch Primary FIs in Next 12 Months

6. FEES SPUR CUSTOMERS TO SWITCH;
CONVENIENCE KEEPS THEM SATISFIED
Why Consumers
Switch
Vs.
Why They
Stay Put

7. Bank Switching In 2012: More Information?
Bank Switching in 2012: Giant Banks Remain Highly Vulnerable
As Customers Weigh Fees And Convenience
This 31-page report assesses the prevailing attitudes of consumers toward
staying with or leaving their primary FIs. Based on three online surveys, it
prescribes the specific strategies that FIs of all sizes can use to compete for
consumers likely to switch.
 How vulnerable is the U.S. banking system to switching by customers — and which banks are at
greatest risk?
 Why do consumers switch primary FIs, and why do they stay?
 What should giant banks, regional banks, community banks, and credit unions do to attract or
retain vulnerable customers?
 What role does mobile banking play in the consumers’ decision to switch or stay?
To learn more about this report:
https://www.javelinstrategy.com/brochure/255
Javelin Strategy & Research provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies,
merchants and other technology providers.
© 2012 Javelin Strategy & Research.
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