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Direct banks, those branchless competitors some try hard to ignore, are winning. They are growing share at an impressive rate, while traditional brick-and-mortar banks – large, small, and in-between – struggle for organic growth. It’s not just savings accounts and CDs. Increasingly, direct banks own the coveted “primary bank” relationship. They’re attracting some of the industry’s most desirable customers. And there is every reason to believe this trend will continue.
Utilizing both quantitative and qualitative research, TNS’ Direct Banking in the U.S. study examines the threat and opportunity posed by direct banking. Some key findings from this research have been summarized in a new whitepaper “Direct Banks and the Future of Retail Banking.”