This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Banks Can Have Our Secrets for Service and Savings, Survey Says

NEW YORK ( TheStreet) -- Would global banking consumers trade more private information for more personalized customer service?

Yes, actually.

In fact, 69% of financial consumers surveyed by Cisco Systems (CSCO - Get Report), the San Jose, Calif., software giant, would make that trade. Cisco says the vast majority of banking customers want more security and "greater simplicity" in their relationships with banks and credit unions.

If there's one term to describe what consumers want, it might be "seamless," Cisco says -- but that includes availability, competence and efficiency, the key banking relationship attributes to 63%, 65% and 68% of respondents, respectively, in a survey covering more than 1,500 worldwide banking customers in 10 countries.

Some of the study's other key takeaways about the willingness to share data about personal financial habits with banks:

  • 83% would for stronger security measures.
  • 80% would for greater savings opportunities.
  • 78% would for more personalized service.
  • 56% would for more "simplicity" in managing their money.

Bank consumers are so open to any move toward more seamless banking relationships that accommodating the needs of those customers is triggering greater competition among banks.

"The battle for the financial consumer has begun," says Jorgen Ericsson, vice president of global financial services practice at Cisco. "Group retail banks that succeed in providing a seamless customer experience across all channels to market -- branch, mobile, online, contact center -- will be the winners of the future. Superior customer experience will be the only long-term sustainable differentiator."

Banks that move now "will not only capture wallet share but also strengthen trust and loyalty to their brand with their customers," says Al Slamecka, marketing manager for financial services at Cisco.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CSCO $29.54 -2.15%
AAPL $129.36 0.21%
FB $79.60 -0.19%
GOOG $573.64 0.40%
TSLA $199.56 1.13%


DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs