Banking sector spending on information technology expected to grow 4.5% in 2014 and another 4.6% in 2015.
Consumer backlash against bank fees, coupled with poor service and unmet customer expectations, has fueled increases in defection rates among customers of large, regional and midsize banks, according to the J.D. Power and Associates 2012 U.S. Bank Customer Switching and Acquisition Study.
Back in 2009, voters’ views on the safety and soundness of credit unions and banks were nearly even.
Acquisition of new customers by smaller banks and credit unions increased by 2.2 percentage points 2011, the study found.