SAN FRANCISCO—Up to $1.1-trillion in deposits are in play among consumers labeled as “Moneyhawks” by Javelin Strategy and Research, according to a new analysis.
“Moneyhawks” are defined by Javelin as the tech-savvy, mobile-minded consumers coveted by most financial institutions. “These Moneyhawks have a demanding appetite for anytime, anywhere, cutting-edge digital access to banking products and yet their combined lack of loyalty and wealth of assets can cause them to be a tricky segment to attract and retain,” Javelin said in its report: “New Moneyhawks: Highly Profitable and Engaged Customers Defining the Future of Banking.”
According to the study, some 20% of these Moneyhawks are at high risk of leaving their primary bank or credit union — putting an estimated 103-million financial accounts and $1.1 trillion in deposits into play. Javelin estimates there are 31-million Americans who fall under the Moneyhawks label.