U.S. Banking: The Natural Aristocrat
No event in American history was so improbable at the time – and has seemed so inevitable in retrospect – as the collapse of both the housing and financial service industries. And not surprisingly, people’s trust in banking has plummeted as the crisis has unfolded. But financial institutions are responding in kind by focusing advertising dollars on general concepts such as strength, stability, reliability, and safety of their respective franchises.
For many banks, complacency masks a struggle between the status quo and the dawning recognition that the banking strategies which worked in the 20th century, and even up to 18 months ago, are not suited for the here and now. In this Strategic Commentary entitled, “U.S. Banking: The Natural Aristocrat,” Speer & Associates, Inc. (S&A) looks to the future to help determine how financial institutions can shift to offense and aggressively compete for customers while fighting for their own existence.
