Banking Pays off in Spanish [Bank of America] :: Hispanic Marketing Intelligence with Lili

In the streets of New York City, financial capital of the world, Bank of America proudly leads by example with bilingual signage at their iconic Empire State location. This visible commitment to engage and reach walking-by New Yorkers "in language", is indicative of a bigger trend: banking in Spanish pays off!

Financial institutions, which may come across as intimidating and unapproachable to most consumers, have a tremendous opportunity to engage personally in Spanish. With targeted messaging and bilingual staff, they are recognizing that it makes sense to open their doors to the $1Trillion in buying power that Hispanic consumers represent. For this reason, many have already noticed. From Bank of America to Wells Fargo among others, their commitment and results keep them "banking" on this consumer.

An article recently published by Qualitas of Life, a nonprofit organization in New York focused on the financial education; shares that considerably more Hispanics are unbanked and underbanked when compared to the general population. While only 7.7 percent of American households are unbanked, more than 19.3 percent of Hispanic homes do not have a checking or savings account. The national average for the underbanked is 17.9 percent and for Hispanics it is 24 percent. This means that 25.6 percent of American households are either unbanked or underbanked. For Hispanics, that number grows to 43 percent, or more than 5.7 million households. To read more visit: U.S Hispanics and Banking at http://www.as-coa.org/article.php?id=2238

So are you "banking" on Spanish language signage to better connect with your consumers?

For more cultural insights subscribe to www.HispanicAd.com. Wondering how to make Español work for your company? Contact cultural intelligence™ coach Lili Gil: Twitter @liligil or visit www.myculturalintelligence.com.

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• banking
• spanish bank
• bank of america
• liliana gil
• liligil
• multicultural marketing
• hispanic marketing
• latinos
• latinos in ny
• nyc latinos
• nyc hispanics

[jackffarrell]

A sad thing to happen to America, and to the Bank of america!