148) #ExponentialInsights: Overdrafts: It’s Really Not About Fees (Really!)

Let these numbers frighten you a little bit:

-6% of U.S. households are unbankable and 18.7% are underbanked

-The payday loan check cashing industry is about $32 billion

-9% of bank account holders pay 84% of the $11 billion in annual overdraft fees

It’s no wonder that overdrafts are the common enemy that financial brands need to vanquish.

In this episode, I speak with Joel Schwartz, Founder & Co-CEO at DoubleCheck Solutions, about the need to give consumers what they need (financial relationships) and what they want (financial flexibility and control):

Join us as we discuss:

- Why overdrafts are such a hot topic at this moment

- It’s customer control that’s the issue, not overdraft fees

- Digital growth opportunities for offering compassion

- Updating old-fashioned mindsets about banking services

- Why doing the right thing is good business

You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.

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