Building Valuable Customer Relationships Through Financial Health
COVID-19 is adding immense pressure to the already precarious financial health of many Americans, reinforcing the important role of banks and credit unions in helping customers build financial resilience. But while the vast majority of customers expect their primary financial institutions (PFIs) to help improve their financial health, few believe their PFIs are actually doing it. In this report, we explore opportunities for PFIs to fill this gap in expectations and build strong, sustainable customer relationships.



Stephen Arves, Manager, Financial Health Network
Marisa Walster, Senior Director, Financial Health Network
Nadia van de Walle, Director, Financial Health Network

Top Takeaways

Drawing on previously unpublished data from the U.S. Financial Health Pulse®, we found that:

Customers are more satisfied, more loyal, and more likely to use additional products and services when they believe their PFIs care about their financial health.

Black and Latinx customers, women, young adults, and low-income customers are more likely to list caring about customer well-being as a top reason for banking with their PFIs.

Customers care most about financial decision-making resources and high-quality products to improve their financial health.

Data Spotlight

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This report uses previously unpublished data from the 2019 U.S. Financial Health Pulse, a groundbreaking research initiative designed to shed light on the financial lives of people in America. Using a combination of consumer surveys and transactional data, the Pulse provides a regularly refreshed snapshot of the country’s financial health.

Global Insights, Customized Solutions

The Financial Health Network’s consulting practice draws on industry-leading expertise, customer insights, and measurement strategies to build consumer financial health into your business strategy.

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