Page 266 - Bank Case Studies
P. 266
bank that makes them feel proud and connects them
to customers on a personal level. The Bank’s desire to
build in diversity and flexibility from day one is to be
admired and will truly set them apart in this segment.”
Ref: (3)
The reputation of high street bank was at an all-time low at
a time when interest rates were stuck at consistently low
levels making it difficult for banks to push up borrowing
costs when other rates were low. It was therefore, difficult
for banks to make money on customer’s deposits.
However, high-street customers seemed reluctant to change
their banks with only 4% (3) of retail customers moving their
current accounts each year
“– a figure that could increase tenfold, challenger bank
TSB reckons, if customers were given more information
about the accounts they hold with the big four.” (3)
