Why are banks’ customer relationships not as strong as they would like to believe? One possibility is that some banks may be blind to customers’ attitudes about money. That lack of insight prevents them from delivering the differentiated experiences customers want and the operational capabilities that drive efficiencies and growth.
The good news is that banks have the opportunity to stand out from their peers. By acknowledging different “money mindsets” of today’s customers, they can begin to revitalize their relationships and build the capabilities needed to thrive in the years ahead.