How loyal are you to your bank, if at all?

Survey shows banks are making headway in competing for our business. Picture: Marianne Schwankhart

These days it’s not uncommon for consumers to have different banks as credit providers for different needs, and savings accounts with a bank other than their primary bank. “The reality is that as soon as price becomes the key driver of customer satisfaction, banks have lost the ability to differentiate on product benefits. Customer experience and outstanding service then becomes critical,” explains Prof Adré Schreuder, SA-csi founder.

This year will be a year of “fierce rivalry” as one in four customers was identified as ready to defect to another bank with three new digital disruptor banks ready to lure those wanting to change, the survey says.

Source: Financial Digest (financialdigest.net)

I'm not loyal, am just a milking cow to the system of broad daylight robbery

Banking costs are a bigger rip off than a cheap circumcision.When computers were initially introduced they were meant to do the jobs of 10 salary earners,but costs were then invented.I doubt when AI is introd,bank charges vanish,because managers will then have to earn bonuses FTB

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