The recent announcement by American Express Co. and WalMart Stores Inc. of upgrades to the Bluebird product seemingly responds to the competitive demands of the general reloadable prepaid card space. However, these upgrades might not be quite what the Bluebird customer wants today.
Make no mistake, Bluebird has generated strong enrollment through its association with Wal-Mart. They report more than 1 million financial accounts opened since its launch. But there have been mixed signs from customers, with expressions of both strong customer satisfaction and displeasure on Twitter, Facebook, and other public discussion forums.
Jehan Hamedi, the Global Market Development Manager at Crimson Hexagon and Ronald Mazursky, Managing Director at Market Innovations Inc. have produced a study that dives deep into the nuances of social sentiment expressed on the Internet. This study explores how financial institutions can distill the nuances from consumer voice in evaluating product improvement to gain competitive edge in the underserved financial segment.