The Good Old Days of Bank Blitz Selling
In 1977, Citibank blitzed pre-approved credit cards to 20 million Americans. Easy way to make sales targets eh? In 1978, an article in The Times appeared, condemning Citi for its campaign “Indeed, many bankers are predicting that the nation’s second largest bank will lose its shirt in trying to create a national network of credit cardholders.” In 2020, CitiGroup have the largest amount of credit card clients in the world.
How a Blizzard Proved Banking Heretics Right, and How It’s Happening Again
The year is 2020 (‘huzzah’ I hear you cry, and maybe not a delighted cry), and we take ATMs for granted, in fact, many countries are moving to a cashless society where Apple Pay and the good old-fashioned chip and pin card is relied on heavily. (And to the three people who still believe in Cryptocurrency, you’ll have your time to shine I’m sure). However, there was a time where ATMs were not accepted and went through a similar journey to online banking and mobile banking which almost 40% of the population still does not trust completely).
InsurTech and Customer Engagement
Welcome to our blog series on Customer Engagement Technology in the Insurance industry. This series will discuss the challenges and opportunities faced by Insurance providers and how the right Customer Engagement tools can make processes faster, more effective and more precise than current methods, ultimately increasing profitability for Insurance providers. Each step of the Insurance value chain is being reassessed and reinvented, Customer Services and Customer Engagement within Insurance is no exception.
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