raddon chart of the day september 18, 2012
TRANSCRIPT
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DaySeptember 18, 2012
Top Five Reasons Why Consumers Have Closed a Checking Account in the Past 12 Months
20%
21%
22%
24%
38%
0% 5% 10% 15% 20% 25% 30% 35% 40%
Poor Service
Inst. Eliminated/Stopped Offering Free Checking
Difficulty Resolving Problems with Account
Minimum Balance Requirements Changed
Fees on Account Changed
Percent of Households That Closed a Checking Account in the Past 12 Months
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DaySeptember 13, 2012
Consumer Households That Closed a Checking Account in the Past 12 Months
9%8%
0%
5%
10%
Fall '11 Spring '12
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DaySeptember 11, 2012
Consumers Preference For How Their Financial Institution Process the Checks That They Write
39%
4%
12%
40%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
No Preference
By Size of Payment
No Specific Order (Random)
By Check Order Received
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DaySeptember 6, 2012
How Consumers Have Overdrawn TheirChecking Accounts in the Past Two Years
31%
60%
51%
10%
25%
67%
44%
11%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Have Overdrawn Account
Checks Written Debit Card Purchases ATM Withdrawals
Fall 2010 Spring 2012
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 30, 2012
Consumer Households That Have Overdrawn TheirChecking Account in the Past Two Years
66%
31%26%
5%
71%
25%22%
3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Have Not Overdrawn Account
Have Overdrawn Account
One to Six Times Seven Times or More
Fall 2010 Spring 2012
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 28, 2012
Current Prepaid Debit Card Use and the Likelihood to Use a Prepaid Debit Card
3%
12%
82%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Currently Use Extremely to Somewhat Likely to Use a Prepaid Card
Not Very to Not at All Likely to Use a Prepaid Card
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 23, 2012
The Availability of Additional Points in a Comprehensive Rewards May Not Prompt Consumers to Consolidate Accounts at One Institution
3%
18%
41%
38%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Have Consolidated Accounts
Would Consolidate Accounts for Additional
Rewards Points
Do Not Know If Would Move Accounts to Get
Additional Rewards Points
Would Not Move Accounts to Get Additional Rewards
Points
Base: Households that currently participate in a comprehensive rewards program and those that would consider participating in such a program
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 21, 2012
Participation and Attitudes About Participating in a Comprehensive Rewards Program That Awards Customers
Points For Total Accounts and Debit/Credit Card Use
11%
20%
6%
16%
53%
0%
10%
20%
30%
40%
50%
60%
Currently Participate in a Comprehensive Rewards
Program
If Current Financial Institution Were to Offer Such a Program/Would
Sign Up for It
Would Consider Switching Financial Institutions to
Get This Program If Current Institution Does
Not Offer It
Would Not Change Institutions to Get This
Program/But Would Look to See If One Were
Available If Changing Banks
This Type of Program Does Not Interest Me
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 13, 2012
Consumer Households That Have Visited Their Financial Institution’s Social Network Website
3%
4%5%
7%
0%
1%
2%
3%
4%
5%
6%
7%
8%
All Households Use Social Netwoking Site
Fall '10 Spring '12
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 7, 2012
Only One Out of Ten Consumers Have Seen Any Bank or Credit Union’s Page on a Social Network Site
8%
3%
12%
4%
0%
2%
4%
6%
8%
10%
12%
14%
Have Seen a Financial Institution's Page on a Social Networking Site
Presence of Any One of the Consumer's Financial Institutions on Social Networking
Site
All Households Use Any Social Netwoking Site
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayAugust 2, 2012
One Out of Ten Consumers Have Clicked on Any Company’s Ad/Promotion/Offer on a Social Network Site
10%
2%
15%
3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
Have Clicked on Any Company’s Promotional/Advertising/Special Offer
Have Clicked on Any FI’s Promotional/Advertising/Special Offer
All Households Use Any Social Netwoking Site
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayJuly 31, 2012
Level of Confidence Consumers Would Have in Obtaining Financial Advice From a Social Network
1%
9%
37%
47%
1%
13%
45%
40%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Very Confident Confident Not Very Confident Not at All Confident
All Households Use Any Social Netwoking Site
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayJuly 24, 2012
Only a Small Portion of All Consumer Households Were Influenced by the Advice Found on a Social
Network Site to Make a Financial Product Purchase
10%
1%
0%
2%
4%
6%
8%
10%
12%
Social Network Information/Advice Influenced Any Product Purchase
Social Network Information/Advice Influenced a Financial Product Purchase
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayJuly 19, 2012
One out of 10 Consumers Were Influenced By the Info/Advice Found on a Social Network Site to Make Any Product Purchase
10%
82%
8% Percent of All Households
Social Network Advice Influenced a Product Purchase
Social Network Advice Did Not Influence a Product Purchase
No Response
©2012 Open Solutions Inc. Raddon Financial Group (RFG) is a business unit of Open Solutions Inc. www.raddon.com | 800.827.3500
Source: Raddon Financial Group, National Consumer Research – Spring 2012
Raddon Chart of the DayJuly 17, 2012
Social Networking Websites That Consumers Access Within the Course of a Typical Month
5%
2%
3%
3%
7%
15%
16%
52%
64%
0% 10% 20% 30% 40% 50% 60% 70%
Other
FourSquare
MySpace
Classmates.com
Google+
Access of Any Social Network Site