Dellavilla Discusses the Bank Switching Process With Reporter Beth Braverman
Rochester, New York – How easy is it to switch banks? Beth Braverman, former Money reporter and currently a reporter with The Fiscal Times, gives consumers some tips in “Five Reasons to Break Up With Your Bank,” featured in The Fiscal Times on June 28, 2016. Braverman says, “The widespread adoption of direct deposit and automatic bill pay make checking accounts particularly ’sticky,’ or harder for banks’ clients to switch away from. Only five percent of consumers made a switch last year.”
To read Braverman’s full article, click on the link above.
Among the sources she interviewed for this story was our own Jim Dellavilla, chief client officer and one of Catalyst’s financial services experts. Jim spent eight years at Chase Manhattan Bank, where he managed all direct and database marketing for 350 branches and produced returns greater than two to one. He has also worked closely with Citizens Bank, Bank One, First Niagara, Key Bank, and many others.
Dellavilla believes that one of the best weapons a bank has to encourage customers to switch is to make the process of switching easier – not only by offering financial incentives, but by using a switch concierge or switching software. “Or,” he adds, “simply by focusing more on what the customer needs to switch vs. getting them in the door.”
Dellavilla recently authored a research study titled “Overcoming Inertia: How to Get Customers to Switch to Your Bank.” In addition to The Fiscal Times, the results of that research have also been featured in The Financial Brand (June 7, 2016).
Jim Dellavilla | Chief Client Officer
As CCO, Jim directs strategy for all of Catalyst’s accounts. This Siena College grad has spent time on both sides of the fence – on the client side at Chase Manhattan Bank and on the agency side as a manager/director of all client relationship teams at Sigma Marketing.