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Default what would the most important factors which customers would look for in a bank in the next few years

Due to the bad image banks have had over the years a change in image / perception of them is what they are working on changing. This means that they are trying to put the customers first and do whats right for them however this is made more difficult as we are a business not a supported (government funded) organisation so we need a business plan to help us make MONEY and support our share holders. This is typically broken down in to 3 parts / focuses

Retain - Keep our current customers who we already have (doesn't really cost anything). This may be by offering special deals only to them. Also by reviewing our complaints to see what they think we do wrong / don't like (This may include changing/reviewing/ streamlining current processes or making things easier to understand/ clearer for them)

Repurchase - Having our current customers hold more products with us or offering a product that has T&C to new customers which require them to switch the other products to us to make a better saving.

Recommend - This is simply good customer service. Better queuing times, better opening hours, better banking options (i.e. online, mobile, telephone, automated machines). The staff is a big factor in this so internally a lot of focus is placed on trying to keep the staff happy. Happy staff = Happy customers!

There will always be customers who chase the best deals but all banks are not necessary chasing the same type customers. So we may not be in completion with each other I.e. "XYZ bank is offering this" so we need to bet them..... Based on the ideas above - you get the picture that a certain bank might look for customers who want to borrow money NOT to save. so these are the people we are looking to improve our image with - Remember saving accounts means the bank have to pay out money to these customers (outgoings) where as borrowing means the customer pays THEM. So the points you state above are correct however HOW one bank might go about this will depend on what type of customers they want to help (impress) and of course depending on the customers personal situation a certain product (3- better financial product) might not help them so customer satisfaction (2) wont improve and no trust (1) can be gained to then Remain, Repurchase and Recommend. This is why one bank is known for one thing, say loans, and another known for something else like mortgages and yet another known for credit cards etc.
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