Banks are increasing interest in ESG and cloud to retain customers

Research published by the European Payments Council showed in 2013 that people are more likely to stay loyal to their brick-and-mortar banks than their partners (they stay in banks for an average of 17 years, while marriages average less than 12 years). Blame the parents. At the time, more than half of those surveyed chose their bank based on institutions supported by their mother or father, and moving banks was a chore. But times, fortunately, have changed. It is now much easier and more common for customers to switch banks, often lured by special cash incentives, but increasingly dependent on the service they receive as customers and the bank's sustainability. Company survey An extra of September 2023 showed that 8 % Canadians are "very likely" to change their primary bank and another 13 % "likely". (Kate Birch)

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