Financial products are sold, not bought. Few people wake up wanting a mortgage, a life policy, a business checking account or an index fund; they want a house, peace of mind, a working company or a retirement, and the financial product reaches them through whoever is standing nearest to that moment: a branch, a mortgage broker, a car dealer, an insurance agent, a comparison website, an employer, a merchant's checkout, a retail cash counter, a financial adviser, an app recommended by a friend. Whoever owns that moment owns much of the margin. That is why banks have run expensive branch networks for two centuries, why Capital One spent about $5.9 billion on marketing in 2025 (FY2025 10-K), why Intuit paid about $7.1 billion for the comparison site Credit Karma in 2020, why Costco could move its co-branded card from American Express to Citi and Visa in 2016, and why Green Dot's cash-in network at Walmart, Walgreens and CVS counters still matters to Americans who use cash. This section maps the distribution channels of finance and their economics, how each segment acquires customers (retail banking, cards, lending, insurance, wealth, consumer fintech, and B2B sales to banks and corporates), how US firms reach unbanked, underbanked and cash-using customers, the rules that govern financial marketing, landmark cases, pitfalls and expert framing.
What the study covers
- 1Overview: why distribution decides who wins in finance
- 2The channel map
- 3Retail banking: branches, digital and the fight for deposits
- 4Cards: mail, affiliates, co-brands and rewards
- 5Lending distribution: brokers, dealers, checkout and embedded
- 6Insurance distribution: agents, brokers, direct and embedded
- 7Wealth and asset-management distribution
- 8Consumer fintech growth: referrals, bonuses, finfluencers and paid media
- 9B: selling to banks, insurers and corporates
- 10Reaching underserved Americans: cash networks, community channels and employers
- 11The rules of financial marketing
- 12Key numbers
- 13Landmark companies and cases
- 14Pitfalls
- 15How an expert thinks about it
- 16Glossary