Point 2.15 in the Banking code of conduct reads : (we , the banks will ) Act with uncompromising integrity and fairness so as to promote complete trust and confidence in ourselves(the banks) and as an industry

Meaning of the words :

Uncompromising : not willing to give ground or make concessions about......

integrity: adherence to moral and ethical principles

fairness: absence of bias in specific realms

Trust : to be able to rely on........

Confidence: The hypothesis that a chosen course of action is the best and most effective.

This is a point that is being made by the banks that they will adhere to and we will be measuring actions of them against this.

See the Brandometer


Thursday, November 4, 2010

The Consumer revolution

If there is one thing that the moving of all bank accounts by the organization Solidarity from Absa to other banks and the consequence this is going to have on their members is it confirms the fact that the consumer revolution is in full swing. The time of the consumer is here. Big business better take note: Consumers have the inclination and the technology to hit big business hard when they utilize their combined strength. Absa pulled up its nose when they were confronted with issues from Solidarity and now they have to face the consequences.

Recent attitudes from the bank in disregarding their commitments stipulated in the banking code of conduct could easily have the same ripple effect.

One person cannot change Big business. A couple of persons can make a dent
A lot of persons can have a serious effect.

Use your emails! Use your databases. Send emails on bad service - Get masses involved. Start class actions. Vote with your feet ! Walk away from bad service and attitudes. Big corporates are not making you money, they are costing you money. You (The customer) are in control. Accept it and take it !

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