Real Banks for Real People - A Roadmap for Managing a Retail-Only Bank
for Real People describes a totally new way of serving the needs of consumers:
an approach that is neither premised on – nor measured by – volume of sales,
but rather on the ability of a bank to provide solutions to its customers
through the span of life changes: employment, unemployment, marriage, divorce,
child-rearing and retirement. Its emphasis is on establishing and maintaining
long-term relationships between customers and branch staff – these, according
to the report, are the source of value in retail banking.
published as Beyond Retail Banking: How to Keep Your Customers Happy and Loyal
Forever, Lafferty Group is proud to be making Stefan Kaminsky’s report -
originally published in 1989 - available in an edited version, bringing it up
to date with developments including online banking, the use of social media,
and regulatory changes. Real Banks for Real People, is prefaced with an
introduction drawing attention to the key themes emerging in the current
dialogue around banking and the role and responsibilities of financial services
In the wake
of the 2008-2010 banking crisis Kaminsky’s all too prescient observations chime
with critiques now being heard coming from all quarters - customers,
regulators, governments, and even from within the banking system itself. Retail
banking, it has become evident, has become regarded by the industry as an
unglamorous, poor relation of investment banking. As a result, the
all-important trust between ordinary customers and banks has been critically
for Real People is essential reading for anybody involved, or who regards
themselves as a stakeholder in the retail banking world, including regulators,
journalists, finance ministers, and of course retail bankers. Some will find it
provocative. Others revelatory. It will rapidly establish itself as a key
document in the ongoing debate about the future of retail banking.
Group is a major provider of advanced knowledge services for the financial
industry worldwide, with particular specialisations in the fields of retail
banking, cards & payments and central banking.
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