Porter's Five Forces of Ally Bank

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Going over the five forces model, the banking industry is not very attractive because of how competitive it is, and there are so many competitors who have established a brand that customers find attractive. Since Ally Banks’ parent, Ally Financial hasn’t paid back the $16 billion that the federal government loaned to them after the economic crisis, they have received much scrutiny. The US Treasury Department gave them two options, which I think they should have considered, one was to separate the two departments into two major operations, auto finance and online deposits, and the other was to sell the company outright. If I were to recommend anything it would be to separate the two companies from one another because Ally Financial has received all the backlash of not repaying the loan, and Ally Bank should want to separate themselves from that controversy in order for customers to trust them more. I also believe they need to advertise their customer service more, as well as their brand, since I have never heard of them before this assignment and I think they offer great banking opportunities. One of their options they offer, which I think they need to capitalize more on, is that they pay back the ATM transaction fee if one is incurred. That option could help many, especially if one went to college out of state and their bank is from back home and they have to pay around five dollars every time they want to take some money out. Ally Bank offers great customer service, and if they were to separate from Ally Financial could become even better in the banking industry.