By acknowledging different “money mindsets” of today’s customers, banks can begin to revitalize their relationships and build the capabilities needed to thrive in the years ahead.

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Money Mindsets:
Customers think about money differently
today. Banks must, too.

2. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Some banks are finding that their bonds with customers
aren’t nearly as strong as they would like to believe.
are frustrated by their
inability to access
information via their
preferred channel.
59%are frustrated with the
lack of convenient
interactions.
73%Only
of customers are very
satisfied with their
banking experiences.
36%

3. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Customer expectations are being shaped by the experiences they enjoy in
other industries.
And for banks the stakes are huge:
Switching and disintermediation of services could put
30—35% of banks revenues at risk by 2020.

4. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
One possible reason for the disconnect is that banks may
be “blind” to important customer attitudes about money,
likely a byproduct of decades-old approaches to clustering
customers based on the value of the assets they own, not
on how they think about, use and manage money.

5. Four Money Mindsets define banking customers today:
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
ACHIEVERS define success by budgeting for clear, often tangible
goals. This helps them feel in control and prepared for the future.
EXPLORERS define success by saving money and making trade-offs
so they can be happy and live comfortably.
BALANCERS define success by getting the best deal in each
transaction, maximizing rewards and staying on their financial plan so
they don’t have to worry.
EXPERIENCERS define success by enjoying the present. They seek
delight in how they choose to spend money and are optimistic about
the future.

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The good news is that banks now have the
opportunity to stand out from their peers.
An appreciate of Money Mindsets of today’s customers can jettison long-held
beliefs that hold them back and enable them to reset their economic futures by:
Re-energizing
growth strategies
Making design decisions
based on customer identities
Adopting liquid
customer strategies

7. LEARN MORE
about how banks can shift to a
mindset-based approach with
our full report:
Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
Money Mindsets:
Customers think about money
differently today. Banks must, too.