Americans need a ‘Fitbit’ of banking

Observations from the Fintech Snark Tank

In a recent survey, the Financial Health Network asked financial services executives about their organizations’ most important strategic priorities. The second most-frequently mentioned priority–cited by seven in 10 banks and credit unions–was “improving customer financial health.”

I’m not buying it.

The Data Doesn’t Add Up

If seven in 10 financial institutions are focused on improving customer financial health, then why do only:

  • 48% incorporate customer financial health into their strategic plans?
  • 42% provide personal financial advice or coaching to help with day-to-day challenges?


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