Rostislav_Sedlacek / objectsforall / Shutterstock.com Must Read | Brand Visibility You Can Bank On THE U.S. IS HOME TO more than 4,000 banks, according to the Federal Deposit Insurance Corporation – more than anywhere else in the world. With so many banks, from the local neighborhood branch to banks without any physical presence at all, consumers have a rich array of choices. What makes people choose one bank over another? Robust account features and convenient access matter, but people also want to know they’re more than just another account. Research from BankBound shows that 47% of people select local banks over bigger national banks for more personalized service, and 59% prefer local banks due to better customer service overall. Many small business owners also prefer small banks, citing an 81% satisfaction score with community banks compared to 68% for large banks. Promo is invaluable when it comes to driving brand awareness at banks and financial institutions. By Audrey Sellers 36 • MARCH 2024 • PPAI
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