Blog categorized as Banking and Financial Services

They don't seem to be.

Here's an interesting bank retention survey by Vox . Here's what the report had to say:

• Bankers who answered our Bank Retention survey think rates and fees are their biggest nemesis, with 73% saying it's the main reason for why a customer leaves. 
• However, our customer poll...

..mathematical modeling of humanity promises to be one of the great undertakings of the 21st century.

The clearest example of math's disruptive power is in advertising. There Google and other search companies built on math are turning an industry that grew on ideas, hunches, and personal relationshi...

ING Vysya Life  in India has built an online presence to its top insurance advisors called pickuradvisor, which is a blogging portal . Using this service, customers can interact with insurance advisors online.

It is quite a novel concept where you can select your city and the insurance advisor i...

McKinsey Quarterly writes:

Few European banks currently segment their customers by loyalty; most institutions rely only on factors such as age, stage in the life cycle (for instance, student, married, or retired), and other socioeconomic variables. This failure to track loyalty is, in fact, doubly da...

Johnnie Moore has this post on Zopa, the first lending and borrowing exchange.

Here's Zopa's reason to be in business:

Here's the way the world works (and it must be right because it's been like this for hundreds of years...)

People who have spare money give it to a bank. Banks then do whatever they ...

Peppers & Rogers write:

One of the dozens of financial, organizational, and personnel reports delivered to Virgin Mobile U.S. CEO Dan Schulman every week is a "customer incident report." It shows every customer complaint tracked by the company's contact center and sales force. Virgin Mo...

Stuart Lauchlan writes:

A recent release of a study by Datamonitor and Siebel on  CRM at UK banks has no surprises.

• According to the survey, no UK banks show any visibility into previous customer interactions from related communication channels or made any attempt to cross-sell related banking pr...