The Financial Column — Consumer Banking: The Role of the Core Payment Account in Relationship Banking

2010-08-22

Gaining the relationship advantage will be critical to bank survival in the years ahead

The ability to measure Customer Lifetime Value will become a critical component for any bank’s success in creating true Relationship Advantage. Most banks today would see Customer Lifetime Value as somewhat complex and intimidating. But like any other advance in capabilities, once they become familiar with the concept, they will be less intimidated, and will realize how essential it is. Until banks can measure relationship value, they will never be able to fully justify the investments they need to make in those relationships, and they won’t see the true Return on Relationship.

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