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5 Banks Customers Actually Like

Bank of America could learn a lot from these financial institutions


Since the first uttering of the phrase “too big to fail,” the banking industry solidified its standing as the Big Bad Wolf of the early 21st century. But not all banks are loathed by their customers. In fact, Bank of America (NYSE:BAC) could learn a lot from some of the world’s most-liked banks.

The Financial Brand has compiled a list of 10 banks that seem to have their act together. Here’s a random look at five.

  • Umpqua Bank (NASDAQ:UMPQ): When it comes to a strong brand presence, the Financial Brand compares Umpqua Bank to Apple (NASDAQ:AAPL). The $12 billion Oregon-based regional bank doesn’t have traditional branches. Instead, it has trendy, inviting stores where customers actually enjoy hanging out. Each Umpqua location also includes a phone with a direct line to CEO Ray Davis’ office, so customers can tell him exactly what they think about the bank.
  • ING Direct (NYSE:ING): Since ING was recently acquired by Capital One (NYSE:COF), its future likability ratings are in question. But on its own, the bank’s focus on savers and its fun marketing strategies have made it a customer favorite.
  • USAA: USAA focuses on serving members of the military and their families. Known for its candid approach, the bank has become one of the largest in the U.S. and actually permits its customers to rate and review its products online. USAA also has a strong social media presence with 28,000 Twitter followers and more than 230,000 Facebook “likes.”
  • First Direct: This popular bank among Gen-Y is an online subsidiary of HSBC (NYSE:HBC). The bank has its own online innovation lab and comes with a satisfaction guarantee.
  • National Australia Bank (PINK:NABZY): NAB, the world’s 17th-largest financial institution, has a handle on outside-the box marketing and public relations campaigns that garner attention. Stylish branches, customer service prowess and social media savvy have also added to its popularity.

Article printed from InvestorPlace Media,

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