Page 5 - Flip Banks TG

Overview

Since the financial crisis of 2008 scandals have abounded in

the banking and finance industry. These raise the question

of who were these scandals perpetrated by, rogue

executives, greedy individuals or was it a more sinister and

deep-rooted, systemic process within the industry? (1)

Given that:

“The strength of families, businesses, and society

at large is dependent on the ability to count on

others to “do the right thing.” Academic research

studies have shown that good ethics (specifically,

an environment of trust) lead to lower costs and

higher revenues and profits. Customers want to

do business with companies that have a good

reputation, and employees want to work for a

company that treats its employees and suppliers
fairly and honestly. While reputation deals with the

past, trust is an indicator of the future.” (9)

All too often people claim that they don’t trust the banks. By

this they more often than not tend mean its management,

not at branch level, but at headquarters.