Account Alerts' Real Value Eludes US Banks

After holding nearly constant from 2004 to 2007, US consumer adoption of account alerts has dipped in the past few years, in spite of continued climbs in online and mobile banking adoption. That's a pity because alerts have been shown to help strengthen relationships, create cross-sell opportunities, and raise customer satisfaction. To stem the decline in adoption and reap these benefits, eBusiness executives need to demonstrate to customers the value that alerts can provide. Customers who use alerts count on them as prompts to take action to reduce fees, prevent fraud, or take advantage of opportunities. By clearly showing more customers how alerts can help them avoid late payment fees, overdraft penalties, and other nuisance charges, eBusiness executives will boost not only sagging adoption numbers but also customer satisfaction.