IslamicFinance.de

Bank Transfer Day and the Occupy Movement have collected tremendous attention, and for the first time there is market research data to measure the impact on the financial services industry. Javelin’s research aproximates that 5.6 million U.S. adults with a banking relationship switeched providers in the past 90 days. Of those switchers, 610,000 US adults noted Bank Transfer Day as their reason and actually moved their accounts from a large to a small institution. Javelin’s nine years of customer-transaction research insights has detected that people are highly resistant to moving their money, and even Huffington Post’s similarly-positioned 2008 “MoveYourMoneyProject.org” failed to barely even register in previous Javelin surveys. Despite of this, this time, Bank Transfer Day and the Occupy Movement did have a measurable impact.