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Internet bankers prove disloyal

Bank customers are flighty in their internet loyalties, according to a report from the Chartered Institute of Bankers.

Nearly nine out of 10 traditional banks and half of new entrants believe customers are more disloyal to e-banks than traditional branch-based services, the survey says.

Institutions say they will have to offer personalised packaged services, including lifestyle products if they are to retain customers&#39 loyalty.

The Profit Through Knowledge report was published in association with Andersen Consulting management consultancy, and Siebel Systems software provider.

Dr Tony Gandy, author of the report, says: “It seems that the full impact of the e-commerce revolution is hitting home.”


Consumer&#39s View

It is difficult to imagine what goes on in some financial servicescompanies or how they expect to remain in business, given the appallingstate of their administration. Computerisation which ought to makeadministration more efficient seems to have had no discernable effect onsome.When confronted with details of cases where things have gone badly wrong,in at least 50 […]

Is Tory letter first class or a sham?

Are the Conservatives genuinely worried about the potential danger thatthe FSA could cause to IFAs when the Financial Services and Markets Billbecomes law? Or are they simply playing politics in an attempt to scorepoints against the Government in the months leading up to a generalelection?The IFA community seems split on this matter. Some share the […]

Carry forward axe threatens self-employed

Many self-employed people are set to lose a valuable means of topping up their pension if the carry forward rule is abolished. Carry forward allows savers with personal pensions who have reached the limit for this year&#39s contributions to go back six years and top up. The system aided the self-employed who often don&#39t know […]

Margin of error

I arranged a unit-linked whole-of-life plan nearly 20 years ago with adirect-selling life insurance company. The policy was written in trust tomeet an expected capital transfer tax liability (now inheritance tax).I have been able to increase the level of cover without increasing thepremiums and without providing further medical evidence. Despite the unitprice rising, I have […]


Graphic content – May; UK economic data has finally turned for the worse

In June 2016, immediately before the Brexit referendum, a curious thing happened. Despite the colossal uncertainty facing the UK, economic data actually started to come in above consensus forecasts. Citi’s economic surprise index nudged into positive territory, which meant that UK economic data had on the whole outperformed consensus forecasts over the prior three months. […]


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