Kasasa Highlights Consumer Preferences In Financial Industry Report

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Frank Weissmann is a client success manager with Kasasa, a marketing services and financial technology provider based in Austin, Texas. Frank Weissmann joined the company in 2014, serving as senior retail experience consultant before being promoted to his current position, where he is responsible for the implementation of IT solutions for community financial institutions.

Kasasa issues studies regularly, with one recently focusing on how likely consumers are to choose financial institutions based on their credit card offerings. The report surveyed more than 2,000 Americans about their preferences and found 71% consider good credit card offers an essential aspect of their decision. Kasasa also found 84% of consumers determine the products and services they want before they look for an institution.

Perhaps the most surprising aspect of the study is that more consumers look for physical branch locations (86%) over digital banking capabilities (79%). The report highlights the importance of offering a variety of services to clients, with 87% of respondents noting it is essential that an institution serves more than just one of their financial needs.

Kasasa CEO Gabe Krajicek notes the statistics highlight the growing need for community financial institutions to increase the number of services offered in order to meet consumer demands. He says failing to do so results in the loss of customers to megabanks that offer a wealth of services.