For the past two decades major banks in the U.S. have increasingly implemented new marketing campaigns to attract Hispanic customers. During this period, national banks such as Bank of America, Wells Fargo, and Chase have been able to win over a significant share of the Hispanic market due to creative marketing to Hispanics. However, a major challenge for banks has been that the typical or average Hispanic consumer is a moving target with many moving pieces. A segment of Hispanics are speeding up the social and economic ladder, while others are slowly getting accustomed to U.S. cultural norms.
That said, the large majority of Hispanics across nationalities, language, and social and economic class are rapidly embracing mobile technology such as smartphones and tablets. Thus, banks who wish to attract and retain the fastest growing customer segment in the U.S. must now adapt their marketing and customer service strategies to meet the evolving mobile banking needs of Hispanics.
Learn how the retail banking industry can stay competitive over the long-term by understanding Hispanic consumer trends. Gain insights on how Hispanics use mobile banking and why it's important to strategically evaluate the offerings to Hispanics.