New federal regulations have put bank and credit union fee revenue on red alert as many financial firms will likely see major reductions in fee income. This potential reduction in revenue has led to the reemergence of a long-held desire to have deep relationships with customers via effective cross-selling of products and service. Nearly all major banks have already put a stake in the ground that cross-selling is back and will be a major focus of strategy over the next few years. This session explores in detail the consumer and bank view of cross-selling to understand obstacles and opportunities in meeting this cross-sell imperative.
- The business case for cross-selling. We explore through data and dollars the value of having deep and broad relationships with consumers.
- The state of cross-selling in the financial service industry. We provide consumer data to show the breadth and depth of consumers' financial relationships across all aspects of products, from deposits and loans to investments.
- The factors that drive cross-sell success. We explore the factors that differentiate winners and losers in cross-sell strategy.