Mighty in EuroMoney: Putting A Rural Investing Bank's Impact On The Map Of Next Gen Depositors
The plight of the unbanked in the US’s poorest regions is a modern-day scandal in the world’s richest nation. Southern Bancorp is one bank seeking to address the problem.
“We’re hoping to spread the message that where you bank makes a difference and by banking with us you can support financial inclusion for all Americans,” says Southern Bancorp CEO Darrin Williams.
Marketing will be the challenge. “We just don’t have the multi-million dollar marketing budgets that the large banks have, and getting our story out beyond the Delta requires a unique approach.”
The bank has been working with marketing technology firm Mighty, offering data analysis on the impact of the 5,000-plus banks in the US. The aim is to increase awareness about how deposits support community investments and to point consumers to banks that align with their values. The result, of course, will be positive publicity for banks like Southern that have a measurable impact on the real economy.
Read full article, here: https://www.euromoney.com/article/b17mgvj6pp6cky/financial-inclusion-american-tragic