Times have changed and we cannot count on the fact that the same age groups are using banking services the same way they did in the past. A quick review using MCIF to see the age distribution of new products opened since the first of the year can provide interesting insights. For example, a new credit card product attracted a higher number of older members at one client when the executive team thought it would appeal to middle age and younger members. This type of review helps you stay on your toes when paradigms shift due to changes in the economy, technology or social behavior.
“Have you checked your paradigms lately?”