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Banking With Women Customers: Strategies To Increase Digital Banking Engagement - Product Image

Banking With Women Customers: Strategies To Increase Digital Banking Engagement

  • Published: March 2014
  • Region: United States
  • 30 Pages
  • Javelin Strategy & Research

FEATURED COMPANIES

  • Bank of America
  • Chase
  • Citibank
  • Navy Federal Credit Union
  • U.S. Bank
  • USAA Bank
  • MORE

Women present bankers with a conundrum. On one hand, women are more satisfied than men with mobile banking. On the other hand, women are less active customers — not only in mobile banking but also online banking and a variety of financial chores.

Gaps like this between satisfaction and usage underscore the need for financial institutions to understand better how women approach financial matters differently from men. Gender differences influence women's desire for money management tools, their mobile mindset, and their attitudes about security, privacy, and emerging technology that will shape the future of financial services.

This report explores how the sexes differ in financial decision-making, the financial products they buy, what influences them as they decide whether to swipe a debit or a credit card, their habits for handling essential financial chores, their desire for smartphone-powered control, and their need for better online and mobile personal finance management. It also examines their willingness to try lead the push for new mobile services such as photo banking and biometric features.

Primary Questions:

- Who is more influential in household READ MORE >

Overview
Primary Questions
Methodology
Executive Summary
Key Recommendations
Courting the Clout of Women
Women's Role in Banking Decisions
How Women Manage Money: What Problems Do Women Want to Solve?
Seven Alerts That Women Value More Than Men Do
Women and Their Mobile Mindset
Gen Y Women: Leaders in Digital Channel Usage
Javelin Outperform: USAA and Navy Federal Credit Union Are Thumping Giant Rivals in Terms of Mobile
Satisfaction
Women and Their Willingness to Try New Mobile Technology .
Voice Recognition: A Case Study of Gender and Security vs. Privacy
Appendix
Related Research
Companies Mentioned

Table of Figures

Figure 1: Methodology: Behaviors That Define Consumer Segments
Figure 2: A Statistical Sketch of Women
Figure 3: Primarily Responsible for Household Financial Decisions (by Segment and Gender)
Figure 4: Financial Products Owned (by Gender)
Figure 5: Primary Factors Influencing How to Pay for Purchases (by Gender)
Figure 6: Weekly Financial Activity (by Gender)
Figure 7: Prefer to Use Smartphones to Conduct Banking Activities (by Gender and Gen Y)
Figure 8: Logged In to Online Banking at Primary FI in Past Week (by Gender and Age)
Figure 9: Logged In to Mobile Banking at Primary FI in Past Week (by Gender and Age)
Figure 10: Javelin Outperform Satisfaction With Mobile Banking (by Gender)
Figure 11: Ease of Use of Primary FI's Mobile App and Mobile Website
Figure 12: Women Who Are First to Try New Technology (by Key Segments)
Figure 13: Probably/Definitely Would Use Photo Bill Pay (by Key Segments)
Figure 14: Obstacles to Using Voice Recognition to Log In to Mobile Banking (by Gender )
Figure 15: Reasons to Try a New Online Payment Option (by Gender)
Figure 16: Extremely/Very Valuable Alerts (by Gender)

- Bank of America
- Chase
- Citibank
- Navy Federal Credit Union
- U.S. Bank
- USAA Bank
- Wells Fargo

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