The Broken Piggybank:
How Can Banks Help Close the Savings Deficit?

Banks Can be a Valuable Partner in Financial Health

Who doesn’t remember, as a child, stepping into a bank for the first time with your piggybank in hand to proudly open your first bank account, and being personally greeted by a smiling banker? Unfortunately, for many customers this would be the first and last personalized experience with a bank. Banks largely fail to offer individualized experiences to adult wage-earners, who would appreciate a personalized touch when trying to manage their money. People want to save and need advice on how they can put enough money aside while meeting financial obligations. They’re not turning to their banks for advice because there is no personal connection.

By digitally guiding customers throughout their financial journey, banks can shed their reputation as impersonal establishments and become go-to resources for individualized advice on savings.

How can banks do it?

Read on to find out!

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