The Bankwatch

Tracking the consumer evolution of financial services

Our side of the counter | a must read for every Bank exec

This post is brilliant.  Thanks James.  Everyone MUST read it, and I rarely say that.  It speaks volumes to the scalability of Banks, (and Credit Unions), and the conundrum of placing a large percentage of responsibility of customer loyalty squarely on the shoulders of, no disrepect, the lowest paid, least trained, yet often most experienced as in this case, employees.

Lloyds TSB – Review – Please Don’t Hate Us Too Much

I am unable to comment on the economics, product design and profits of large financial institutions, I’m not that clever (if I was I wouldn’t still be a cashier after 25 years), but I am able to give an opinion on customer service issues and give an insight into ‘our side of the counter’.

SOCIAL SKILLS
Bereavement ….

Marital Disputes ….

The Elderly ….

LEGAL LIABILITY

Money Laundering ….  We are now PERSONALLY liable if we are ignorant of ….

CRIME & VIOLENCE

…. In 25 years in the London region I have been in 4 branches during armed raids. On one occasion the gun was pointed at me …

…. witnessed many acts of violence ….

Fraud ….  Stolen credit and debit cards, people forging the signatures of elderly relations, stolen cheques, counterfeit cheques, people falsely reporting card losses after a spending spree ….

… People do get very upset when we ask to ID them …

At one branch we used to get human excrement posted through the letterbox regularly ….

SALES, COMMISSION & WAGES

… TIP If you are not totally happy with something the bank is trying to encourage you to do. Don’t feel pressurised, take time to think about it and ask all the questions you need. Always check out the competition. …..

….  After 2 years of achieveing my objectives I had enough points to buy a bread maker! ….

…  If I worked full time on my hourly rate I would earn just over £14K per year ….

 … why do I stay?  the staff and regular customers are lovely …

THE FUTURE

I’m not sure how long there will be traditional large banking organisations. With the increase of internet banks, telephone banks and supermarket banking. I believe their only chance of survival is to provide outstanding customer service. So far they haven’t been getting it right. My impression is they have now recognised the need to change and hopefully things will improve for the better.

It will be difficult to do the star ratings on this one. I will base it on my branch, myself and my colleagues.

Nuff said.

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Written by Colin Henderson

October 4, 2007 at 21:17

Posted in Banking Strategy

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