smith+co on
customer experience
Shaun Smith
  • By Shaun Smith
  • Mar 27 2012

Do you love your bank?

For most of us the answer will be a resounding 'No!' Yet there are a few banks that manage to gain the affection of their customers.

We know that trust and affection are key drivers of brand loyalty, so the million‐dollar question is how can that be achieved in a sector where trust and affection are rare? Let’s look at some topical examples and see what lessons we can learn from them. Last week, a London trader by the name of Greg Smith, publically resigned from his employer Goldman Sachs, by writing a letter to the New York Times. In it, he attacked the “toxic” culture of the firm which he claimed lacked any kind of client‐focus treating customers as “Muppets”. Rolling Stone magazine famously branded the bank a “vampire squid” for its single‐minded focus on extracting money from its clients.