On today’s podcast episode, we examine how banks build and use trust to win new customers. Here’s a look at what we’re talking about: • In our “Headlines” segment, we discuss recent data breaches at banks and question what the difference is between a bank's security breach and a breach at a partner company’s system. • In “Story by Numbers,” we focus on personalization and reveal if it successfully engenders trust or just seems creepy. • In “For Argument’s Sake,” we ponder what would happen if banks were required to report to customers when they shared their personal information with third parties and how it would impact customers’ trust and banks' marketing campaigns. Tune in to the conversation with host Rob Rubin and our analysts Grace Broadbent and Tiffani Montez.• In our “Headlines” segment, we discuss how in-flight deposits and Gen Z will drive account openings in 2023 and to what extent new account openings are the result of high deposit rates and an incentive-laden environment. • In “Story by Numbers,” we examine how being able to set up direct deposit when consumers open checking accounts is extremely important and the importance of deposits being protected. • In “For Argument’s Sake,” we suppose there’s a new US banking regulation requiring all banking products to be applied for and opened online. We debate (nicely) how the industry dynamics would change if everything in banking were digitized and moved online. Tune in to the conversation with host Rob Rubin, managing principal of financial services consulting at EPAM Systems Alex Jimenez, and our analyst Tiffani Montez.

US banks are staring down tough competition and squeezed margins as they enter the back half of 2023. In response, they’ll revamp their marketing strategies to win key customer segments and preserve their bottom lines.

Gen Z shoppers diverge from the general population in terms of where they find and buy products, consumers are still into influencer-driven ads, and live shopping hasn’t taken off yet. Here are five charts to help elevate your social commerce strategy.

Small banks and credit unions should focus on digital interactions, ease of use, and consumer safety to boost deposits in H2 2023.

Banks can super-charge the customer experience through open communication via social media channels.

Here are some things banks should consider when partnering with a fintech.

In an era of instant, interconnected, and always-on communications, nervous customers can quickly become an existential risk to banks. They need a new marketing framework to anticipate and manage a crisis.

Elon’s X dreams will suffer from Twitter’s trust problem: Piecemeal partnerships, like its latest with eToro, won’t drive the earth-shattering change the social media platform needs.

The recent shocks to the US financial system will undoubtedly create a ripple effect for consumers, with many zoning in on what these banking failures mean for their own bank accounts and whether the current state of banking is viable or trustworthy as it now stands.

Gen Zers’ influence on banking will begin to emerge as more than 4 million of them per year become mobile bankers through 2026. Banks must adapt to provide the services these digital natives demand.

There’s still a large percentage of social media users who don’t buy via social. Understanding what makes current social buyers buy can help brands and platforms increase sales and potentially grow their customer bases.

Just 18% of US social media users are confident that Facebook protects their privacy and data, down from 27% last year. Confidence is particularly low among the oldest and youngest users surveyed, at 10% within the baby boomer generation and 18% within Gen Z.

US banks are facing a consumer crisis of faith amid market turmoil. The trust-building actions banks take now will determine how their customer relationships fare in the future.

Patients still distrust Big Tech and health tech companies with their data: We unpack the implications around Big Tech health data access, Roe vs. Wade issues and healthcare literacy on the back of a new AMA survey.

Macroeconomic and geopolitical concerns are forcing Canadian financial institutions to address issues surrounding consumer financial health, US acquisitions, and a potential fintech flameout. In the long term, open banking, digital transformation, and omnichannel personalization will pose unique challenges.

A looming recession and global turmoil threaten US incumbent banks’ bottom lines. But refocusing on core tech priorities and consumer needs will help banks reclaim the high ground in the fight for customers and talent.

Adopting a customer-centric mindset is key to standing out in today’s marketing climate. And yet, delivering exceptional customer experiences is a key challenge for 35% of marketers.

Word of mouth trumps advertising: Intuit’s TurboTax massive deceptive ad settlement reflects a growing lack of trust consumers have in advertising.

Nearly 75% of executives say that since the start of the pandemic, they’re having a harder time establishing and maintaining customer trust. With the right knowledge, companies can effectively navigate today’s trust landscape.

Competition from fintechs and consumer brands is compelling leading banks and technology providers to revise their strategies. These fintechs and brands are scaling and evolving rapidly on top of banking as a service (BaaS) and open banking infrastructure. We’ve spoken with executives at financial institutions, fintechs, and vendors about how to thrive in an ecosystem that’s reshaping financial services.