Consumers Expect Banks to Help Them Respond to Financial Crisis, Study Says
NEW YORK-Most consumers expect the recession to generate a new era in banking with financial services providers more tightly regulated, according to research from TNS. The consultancy said its Financial Crisis study found although consumers are more financially aware, they still are looking to the banking industry to help them respond to the recession. The study examined how the global financial crisis is affecting customers in four key countries: the United Kingdom, France, Germany and the United States. In the U.S., 62% of all consumers polled are changing their financial behavior, including spreading money between several banks and looking for more crisis-proof products and services. Twelve percent of U.S. respondents are putting their funds into cash, and 8% of American were also looking to change their current bank of savings/investment provider. Approximately half of U.S. consumers said they expect banks to respond to the changed economic landscape with the launch of new products better suited to the present situation.
For info: www.tnsglobal.com
Business Benefits Of Telecommuting Addressed In CUNA White Paper
MADISON, Wis.-Credit unions can find out how to use telecommuting to expand business, extend member service hours, save on building and operations costs, and improve employee recruitment, engagement and retention in a new white paper from the CUNA Technology Council.
"Telecommuting in Today's Environment" takes a look at the benefits and challenges of telecommuting and its function within a credit union. It also offers ideas and case studies to help CUs with the top three challenges of telecommuting: 1) creating a seamless connection that mirrors what members would get if they contacted a branch or call center, 2) protecting sensitive member data, and 3) making remote employees feel a part of the credit union's culture.
In addition to standard use, the paper includes several case studies describing how credit unions used telecommuting to continue business operations during natural disasters such as fires, ice storms and hurricanes, and how it could prove similarly effective in the case of a pandemic.
For info: www.cunacouncils.org
Most Creditworthy Consumers Are Also Most Likely To Be Identity Theft Victims
COSTA MESA, Calif.-A study by Experian found a "clear connection" between consumers' high credit scores and the propensity for identity fraud victimization. Experian said its "Market Insight Snapshot" analyzed identity fraud occurrence rates across credit score ranges. "Experian's findings should herald a warning for consumers and businesses alike," said Hiq Lee, SVP/GM of Experian's Fraud and Identity Solutions group. "Identity fraud can damage an individual's finances as well as a company's bottom line and reputation with consumers."
For info: www.experian.com
