The Modern Bank Customer

From the previous chapters we have learned that retail banks around the world are facing intense margin pressure, slow balance-sheet growth, an uncertain economic outlook, and a growing threat from new entrants, especially in the payments arena. Banks are also facing growing regulatory costs and demands for greater fairness and clarity in their interactions with customers. All these factors drive them to increase their focus on the most important stakeholders — their customers. Understanding customer behavior, attitudes, and requirements is more vital than ever for banks’ strategic thinking, operational planning, and day-to-day customer interaction. This is particularly relevant when retail banks are looking to win the war for the modern bank customer, as other retailers are already facing the same issue. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.