(http://www.sas.com/knowledge-exchange/customer-intelligence/uncategorized/can-segmentation-help-banks-find-tomorrow%E2%80%99s-high-value-customers/index.html). This article by David Wallace emphasizes the need for financial institutions to keep their high-value customers, while also trying to figure out how to lure the high-value customers of tomorrow. Wallace also discusses the risks of segmenting customers based on age and income.
(http://thefinancialbrand.com/26881/simple-easy-banking-strategy-jm/) This website introduced the company "Simple" -a web and mobile front-end interface for basic banking functions. Customers’ funds ultimately reside in FDIC-insured accounts held with The Bancorp Bank, a private-label banking and technology operations back office. Some unique options offered by Simple include: For inactive accounts, Simple uses follow-up communications that include a certain amount of encouragement, product education and lightheartedness to cultivate engagement.
(http://smallbusiness.chron.com/market-segments-banking-industry-14390.html) While small banks often service local geographic areas and demographics segmentation is often sensible, banks can often best define market segments based on product benefits when they offer multiple types of products.
(http://www.researchandmarkets.com/reports/914227/segmentation_in_financial_services.pdf). This article seeks to differentiate between different value groupings, in order to establish the most significant features that describe the user of a particular product, and to identify which of those are characteristic of a particular customer group.