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.
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio