By YOUNG MONEY Staff
3 August 2011

In a report culled from surveys of over 5,100 consumers, the research firm Javelin Strategy and Research outlines methods in which tech-savvy, finance-minded consumers could be courted and retained by financial institutions (FIs). Javelin's research placed special emphasis on a specific class of modern consumers, whom they referred to as "moneyhawks."

The report, entitled "How to Attract and Keep High-Value 'Moneyhawks:' Increase Profitability Through Targeted Multichannel Service Messaging," said that this type of consumer was particularly valuable and potentially profitable for FIs.

It attributed the worth of "moneyhawks" to their consistent purchase of financial products and use of online or mobile banking and online bill-paying services. Although these individuals only make up 10 percent of the overall consumer market, their utilization of cutting-edge techniques can be perceived as establishing trends for the majority of banking in the future.

James Van Dyke, president and founder of Javelin, stated a desire to popularize techniques regularly employed by "moneyhawks" to the general public.

"Our report provides details on how FIs can focus their messaging to expose the other consumer segments to varying degrees of online and mobile banking and bill pay, without overwhelming them," Van Dyke said.

Since the early 2000s, online banking has gained popularity in America. According to the Seattle Times, nearly 37 million U.S. consumers banked and paid bills as early as 2002.