The Financial Column — The Imperative of Relationship Banking

2010-10-03

Banks can no longer ignore the importance of customer relationships in retention

Despite twenty years of talking about the importance of customer retention and relationship expansion, the banking industry is not materially better off than in 1990. In the past, there was no burning platform. There was plenty of profitability to go around, and if the nirvana of true customer relationships didn’t happen, it didn’t appear to make a difference in bank share value, dividends or careers. Those days are over.

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