Banks must build service to rebuild trust

Financial services marketers have not treated customers as they should have over the last decade, leading to a catastrophic loss of trust.


The only way to regain that belief in institutions is through a cultural change that puts customers at the heart of the business and by investing into IT to deliver better service.

So says Anthony Thomson, chairman of Metrobank and chairman of the Financial Services Forum, a talking shop for marketers in that industry which celebrated its tenth anniversary last Friday. “One of the big things from looking back is seeing how the industry has not managed its customer relationships well, which ultimately led to customers distrusting many financial institutions,” he says.

Thomson points out that, “banks don’t have the infrastructure in place to give good service.” But he also identifies a Catch-22 situation for many of the high street banks in resolving this problem: “They don’t have the funds to invest in that infrastructure. Which is good news for us at Metrobank.”

The critical point of comparison for banks is with other high street brands. “They have met the demand for good service in every other aspect of the consumer’s life. If you couldn’t buy your groceries in Sainsbury’s on a Sunday, or buy your TV in John Lewis on a Saturday, you would be up in arms. That is the challenge for banks,” he says.

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