An Ernst & Young Survey of nearly 30,000 bank customers found they switch banks more, and expect to be rewarded for their loyalty.
August 03, 2012
How Can Banks Respond?
To remain competitive amid customers' changing needs and preferences, Ernst & Young suggests banks give customers the opportunity to choose by making promises and service offers more transparent. Banks should also re-balance fee structures to achieve the clarity and sustainability required by regulators and investors, and help customers shape their own banking experiences by improving how they provide information and advice, recruiting online affinity groups and developing flexible loyalty programs, E&Y says.
