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14 Ways to Enhance and Differentiate Financial Websites

Subscribe to The Financial Brand via email for FREE! Let’s face it… Many financial institutions look and sound alike. They all offer basically the same products and services — from standard checking accounts and home loans to online banking. This presents unique challenges to financial marketers looking to differentiate their brand from others.

Fortunately, there are ways that banks and credit unions can enhance their overall website to deliver a more valuable experience, highlight product benefits, communicate competitive differences, and support business goals.

When planning the next phase for your institution’s website, here are 14 different ideas you can incorporate.

1. Comparison Charts & Product Finders

Most financial institutions offer options for checking accounts, mortgages and more. For website visitors, it can sometimes be difficult to determine which of these options best meets their specific needs. Comparison charts give visitors a form of visual shorthand with at-a-glance formats that highlight important features and notable product differences, making it easier for consumers to make a decision.

Legal Matters: What's a 'finder' and how are finders affected by state laws?

The General Assembly amended the state law on finder’s fees for mortgage brokers in 2017 to provide that, effective Oct. 1, a mortgage broker obtaining a loan on the same property more than once within 24 months will be limited to charging no more than a total of 8 percent of the initial loan amount when combining the finder’s fee charged on that loan and any other finder’s fees collected during the 24-month period.

Maryland’s Finder’s Fee Act applies only to mortgage brokers, not to lenders, the Fourth Circuit Court of Appeals held in a 2014 decision.

Borrowers had challenged finder’s fees charged by Prosperity Mortgage Co. Because Prosperity was partly owned by Wells Fargo, the borrowers claimed that Prosperity was acting as a mortgage broker, bringing them together with Wells Fargo, which provided Prosperity with a line of credit to make mortgage loans.

The court’s decision meant that a mortgage lender could not be held liable under the state law for violating fee limits or other provisions of the act, if the lender was not acting as a mortgage broker.

Is there any way of recieving a "finders fee" or compensation for mortgage fraud tips?

I've come across a heafty amount of information regarding mortgage fraud. I don't want to throw anyone under the bus, but, there are a few jerks that I wouldn't mind being compensated for extending their fraudulent practices over to the right people.