A 2018 Federal Reserve survey revealed that about 59% of small banks and 57% of large banks consider borrower relationships to be their most important competitive advantage. However, this roadblock is steering many small-business (SMB) borrowers away from traditional banks and towards alternative lenders, putting invaluable bank-borrower relationships at risk: ‘bank’ speak. What’s ‘bank’ speak? […]
Over sixty percent of participants in a survey conducted for American Bankers Association reported banking online or on mobile more than any other method. How many participants said they bank primarily in branches? About 18%. Does that mean the bank branch is dying? Not necessarily. Even millennials still visit bank branches regularly. And as Mirador’s […]
How many consumers, would you say, still do their banking primarily in branches? According to this recent American Bankers Association survey, about 18%. The basal problem? Today’s branches are too focused on simple transactions that lend themselves to digital self-service. But If you think that means the bank branch is dying, think again. Over 50% […]
89% of Americans are online. And a whopping 77% of Americans are online every day. The near ubiquity of the internet and mobile devices has changed how Americans gather information, make decisions and even manage relationships. With a majority of 69% of US adults, and 88% of those aged 18-29, using some type of social […]
What does data have to do with customer experience? Let’s just say the relationship is big. In fact, “big data” is helping a growing number of companies create personalized experiences that make it easier and faster for consumers to find what they’re looking for. Think Apple, Netflix or Amazon. For many banks and credits unions, […]
Even with significant resources at their disposal, big banks still struggle to crack the code on optimal customer experience. Why? It’s tough work that requires innovation and creative freedom to test new concepts. And too often regulators are used as an excuse to avoid that work. Although regulators and regulation exist to prevent the kinds […]
What started as a routine flight for the 155 people on January 15, 2009, become known as “Miracle on the Hudson” or “the most successful ditching in aviation history,” as one National Transportation Safety Board official would later say. Ten years later, we celebrate the remarkable happening, the resilience of the human spirit and the […]
With an increasing number of women and minority entrepreneurs launching small businesses, the marketplace is becoming more diverse. In fact, the number of women-owned small businesses is up 58% from 2007. And the National Association of Women Business Owners reports that as of 2017 women-owned businesses employed almost 9 million people and generated $1.7 trillion […]
A Message from Trevor Dryer, Co-Founder & CEO: On behalf of the Mirador team, I’m thrilled to announce that Mirador has been acquired by CUNA Mutual Group, a financially strong insurance, financial technology, and investment company dedicated to helping people achieve financial security. You can read the press release here. Since we founded Mirador in 2014,- […]
Digital transformation is an industry phrase that conjures images galore. For some, it’s a transformation that puts computers in the driver’s seat of business. For others, it’s purely a cost-control move, modernizing tools and processes to control increasing costs of operations. The reality is that digitization puts the customer’s experience squarely in the center of […]
