Timetric Retail Banking Reports
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Restoring Trust and Credibility in Financial Services
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- Financial services
- Trust and credibility in financial services
- Financial crisis
- Product designs
- Customer engagement
- Customer service
- Green marketing
- Merrill Lynch
Synopsis
- Banking has always had more than its fair share of bad publicity, from unpopular branch closures and the threat to free banking, to persistent coverage of lending practices seen as unfair. This negative exposure has only increased since the credit crunch.
- Unfortunately for banks, a negative perception of financial services institutions is a boon for many of the alternative payment providers entering into the marketplace. Some of these, for example (perhaps change providers for) telcos and supermarkets, already have profitable, in-depth customer relationships in their existing sectors, and many of them are successfully transferring their approach to financial services
Details
- Product code: VR0722MR
- Published: Sept. 1, 2009
- 118 pages
- Single-user: $3800
- Site License: $7600
- Enterprise License: $11400
- Terms & Conditions
Executive summary
Banking and bad publicity have never been far removed from unpopular branch closures, the controversy over ‘free banking’ and persistent coverage of unfair lending practices. However, following the seismic events of the credit crunch, the banking community has been the subject of sustained criticism and skepticism that was unimaginable only a few years ago. Against this background there has been a worldwide questioning of the role of the banking industry and many of its operating practices.
Governments and industry bodies worldwide have responded to the crisis with a plethora of measures, including: the publication of the ‘stress test’ results on the robustness of finances at a number of major lenders, legislation on responsible lending (notably card reform in the United States) and in the UK, a code of practice outlining how large banks, building societies and broker dealers must ensure their remuneration policies are consistent with effective risk management.
Scope
- This VRL report provides detailed insights into the following topics:
- Product Design and Operational Strategies
- Outsourcing versus Rightsourcing
- Communicating and Engaging with Customers
- Socially Responsible Action
Key highlights
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Reasons to buy
- Steps to creating a socially responsible operation
- Building inclusiveness into product design
- Communicating effectively with staff
- Improving customer engagement
Table of contents
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List of tables
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List of figures
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