Keeping Your Bank Brand Alive During A Recession Ago Cluytens Global Head Of Marketing ING Private Banking

Bankers Are The New Lawyers

www.mxgm.org, « The Hold Up »

« A bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money.« (Wikipedia)

"It is important for the banks now to be guided by fairness, accountability and transparency . It benefits no one if the depositors are unsure of their deposits" (A. Tetangco)

[Fairness] « to be fair is to be free from bias, dishonesty, or injustice »

[Accountability] « there’s no such thing as a free lunch » (Milton Friedman)

[Transparency] « Transparency is the brother/sister of trust. » (Milorad Ajder)

So, how do we regain trust ?

Isn’t that a little simplistic though ?

« As a manager, it is my job to protect the bottom line.«

« As a manager, it is my job to serve the customer.«

« As a shareholder, I am concerned about your ROI.«

« As a shareholder, I am concerned about your business practices.«

« As a lawmaker, I am concerned about your role in society .»

« As a lawmaker, I am concerned about your financial viability .»

So how do I protect my banking brand during the recession ?

Find out what customers value.

Provide great service.

Admit your mistakes.

Be authentic.

And keep your promises. Period.

“ The difficulty lies not so much in developing new ideas as in escaping from old ones.” (John Maynard Keynes)

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