Dan Latimore About Dan Latimore

Daniel W. Latimore, CFA, is the Senior Vice President of Celent’s Banking practice and is based in the firm’s Boston office. With a wide range of experience in industry and as a consultant, he brings examples from outside financial services to help banks improve their customer relationships, with a particular emphasis on the importance of technology and culture.

Dan's coverage areas include the banking ecosystem, digital and omnichannel banking, and innovation. He has a passionate interest in behavioral economics and exploring why consumers and humans make the decisions they make, and what the implications are for banks.

Dan has been widely quoted in the press, including the Wall Street Journal, American Banker, Boston Globe, CNBC, and CNBC Europe. He is also a frequent speaker at industry conferences and client gatherings, having addressed audiences ranging from intimate meetings with CEOs and central banks to keynote conference speeches in more than a dozen countries.

Prior to Celent, Dan led research groups at Deloitte and IBM, worked in industry at Merrill Lynch (where he lived in New York, Tokyo and London) and Liberty Mutual, and was a consultant at McKinsey & Co.

Dan received a Masters in Public Administration from the John F. Kennedy School of Government at Harvard, and an undergraduate degree from Dartmouth College. He holds the Chartered Financial Analyst designation from the CFA institute.

Comments

  1. Kevin Boyle says:

    Dan – fascinating data. I’m curious to know if the Challenger banks (or other competitors with retooled value propositions) are making any headway in capturing core deposit share without customers actually switching primary accounts. In other words are customers simply opening new accounts and letting their old accounts dwindle? My guess would be not enough to move meaningful market share but it would be interesting to test. It would also be interesting to see if small businesses switch more frequently or less than consumers if that data is available.

    Thanks for posting.

    • Thanks, Kevin. The UK has a great deal of data and the reports from regulators go into some detail on the sub-types of switching. In the Personal Current Accounts Market Study Update, pages 83-91 have a good discussion of what you’re asking about. Small business appears to be a small percentage of the switchers. There’s a lot more data than I could discuss in a blog, but regulators’ desire for competition means they’ve been able to compel banks to divulge consumer behavior, which is a goldmine for other similar countries interested in their experience.

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