Fiserv Research Shows Banks And Credit Unions Can Fill The Financial Management Gap

Fiserv, Inc.

released the results of its Expectations & Experiences on "Household Finances quarterly consumer trends survey". The company stated that the study surveyed over 3,000 adults in the America and found that while the majority was satisfied with their primary financial provider, they give their own financial management skills mixed marks. Similarly, Fiserv survey said that 60% of the financial management as a "must do" versus a "want to" and there were signs that many consumers would gain from outside help. That revealed an opportunity for financial institutions to provide advice and tools that enable consumers to take control of their financial lives. The company's COO, Mark Ernst, said that "Tasks such as paying bills, budgeting or saving for retirement are a fundamental part of people's daily lives. He added that Most consumers look to their bank or credit union as a partner, and financial institutions have a significant opportunity to provide the financial advice and tools they need to help them achieve their dreams." Fiserv said that 76% provided their primary financial organization an eight or higher on a satisfaction scale of zero to 10, while 28% gave a "perfect 10." The higher overall satisfaction ratings were tempered by lower satisfaction among the newest households: 65% of early millennials rated their primary financial organization an eight or higher on a scale of zero to 10. Shares of the company traded 0.55% higher on Monday.