Category: Banking & Finance

Restaurants, grocery stores and banks all have something in common – an employee dress code.  Some companies, such as UBS in Sweden, have traditionally taken dress codes to higher levels.  A 44-page guide for employees contains specific directives about employee nail care, glasses and even underwear.  Recently, though, UBS announced that it will change its strict policies to more practical dress guidelines.  While most companies don’t manage company appearance down to such small details, many have some type of code in place, whether it includes wearing name tags or collared shirts, or directing employees not to wear jeans, nose rings or multiple earrings. 

Banks are thinking about imposing annual fees of $25 or $30 on debit cards, according to people familiar with bank strategies.  Other banks will increase fees on checking accounts. For example, during 2011, Bank of America will offer four basic checking accounts in some states, instead of three.  Three of the four will offer ways for customers to avoid fees, while the fourth, the Essentials account, has an unavoidable monthly fee between $6 and $9.  Chase Bank will charge a $6 monthly fee on one of their checking accounts, however, customers can avoid the fee with a $500 or more monthly deposit to the account, or when they use their debit cards five times during the month.

While consumers benefit from improved financial literacy as required by the Consumer Financial Protection Bureau, financial institutions face tough challenges ahead in delivering customer experience in accordance to new standards.

Considering telephone mystery shopping call scenarios for your bank ? A good starting point is to think about the client interactions that are most critical to the achievement of your bank’s sales and service goals.