Blog categorized as Banking and Financial Services

Colin writes:

Forrester says customer advocacy remains the best predictor of future purchase intent among financial services consumers. 

Five skills for making financial services more responsive:

#1 :Customer-Centric DNA — Maintaining An Enterprisewide Focus On Customers

# 2: Solution Management —...

Jupiter has just released a research on the impact of Social Computing on Financial services.

The key as I see it, is the need for these large financial monoliths to change their world view on how banking will be done in the future. Look at what the topline findings of the report has to say:

Peer-to-p...

Who said there is no innovation left in the credit card business. 

Amercian Express seems to have come-up with one. At least it can catch the fancy of consumers. It is positioned as a new stylish companion!

Take a look

Wells Fargo has a launched a great mortgage product where they handhold the  customer till they become creditworthy to extend a loan product to them!

They will help improve the financial well-being of their customers who close on a new nonprime home mortgage loan. The program, "Steps to Su...

Each year, the gap between what companies pledge and what customers want, grows wider.

According to Customer Loyalty Index (done by  Market Research firm Brand Keys) which surveyed over 16,00 customers, it was found that :

• Customer Expectations have increased  dramatically across all categor...

The web and business environment is abuzz with a lot of models on customer generated media(CGM), WOM( Word-of-mouth), viral marketing etc. 

Here's a great example of customer driven banking:

Yunus, 57, is the founder of Grameen Bank, headquartered in Dhaka, Bangladesh. (Grameen is the Bangladesh...

Here's a nice interview with Michel Tilmant, Chairman of ING.  ING Direct, the Internet-based savings bank has been highly successful in the US.

He talks about the success of ING Direct and has quite a few radical thoughts on banking and how it is done:

• "For us, cross-sell is not what we wa...

The staid bank branch is getting a makeover.

As competition for deposits intensifies, a number of banks are trying to capture customers' attention by revamping their buildings to look more like coffeehouses and retail boutiques, and less like the stodgy brick-and-mortar operations of old. The new des...

Can we ever do it? Banks have become an inevitable part of our lives. But, Sunday Mail has some interesting perspectives on how the landscape is changing for banks. The take-out really is that banks have to find new ways of serving demanding customers and their competition seems to be not other bank...

Customers hate to get locked-in with any of their service providers. 

Hence, when mobile number portability was announced, it was a boon for customers  because if they wanted to switch to another mobile service provider, they could do so easily as the mobile number was owned by the custome...