Banking executive committees may be disconnected from customers, Jim Marous notes

Banking executive committees may be disconnected from customers, Jim Marous notes
Banking leaders often lack customer contact

Jim Marous, publisher of The Financial Brand, raised concerns about the level of direct customer engagement among banking executive committees. Marous questioned how many committee members had spent time handling live customer service calls or working in a branch over the past year, suggesting that a lack of firsthand experience could undermine understanding of customer needs.

Marous has previously highlighted that banks have moved digital platforms from support roles to key channels for customer transactions, as seen in his analysis on digital banking evolution. In another report, he found that only 9% of financial marketers express strong confidence in their return on investment and nearly half do not track customer lifetime value in marketing data assessments. These findings point to ongoing questions about industry engagement with both technology and measurement.

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