How superstores will rob the banks

As Stuart Smith points out (MW September 30), financial services providers will be in for a nasty shock when the supermarkets stop playing with their food.

The main obstacle banks have to overcome is making cynical people trust again. Over-promising and under-delivering are continual problems in the sector. Ever more fantastic claims, made to gain attention, are followed by a disappointing and occasionally a disreputable experience. To build trust, the structures have to be in place to achieve it – that means good quality products and services replacing the need to bribe customers (and sales advisers) to take them out or recommend them.

And don’t be fooled that this can be achieved through a CRM systems initiative. It takes a strategic approach that gets to the heart of the culture of the business in relation to customers. The supermarkets wrote the book on understanding customers. So traditional brands that want to stay on top when supermarkets get serious about finance had better raise their game.

Neil Fox

Director of planning




Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here