Key Banks on Financial Wellness Outreach to Expand Customer Base
Originally published on Crain's Cleveland Business
To many a scorned customer, it often seems banks are more interested in racking up fees — monthly service fees, overdraft fees, foreign transaction fees, minimum balance fees, to name a few — than helping Americans make sound financial decisions and secure their economic futures.
Yes, banks impose fees, some more than others, but it’s part of the business. However, the advantages of having better-educated customers are not going unnoticed by forward-thinking financial firms.
“We firmly believe as a bank, and this is a core piece of our strategy, that when our clients succeed financially, that’s when we succeed as a bank,” said Mike Wesley, director of client strategy in Key’s retail bank division.
