Finextra: 'Too complex to thrive' Western banks face uncertain future - IBM study: "According to the IBV report, banks can close the 'trust gap' by investing in behavioural analytics to gain a better understanding not only of their clients' perception of value, but also of what they are actually willing to pay a premium for. Instead, too many banks are currently over-reliant on less useful demographic metrics, such as age, health, or stage of life, suggests the research."
We would have thought that similar research should be carried out by the government through the regulator, this was proposed but rejected. As was a thorough examination of where financial crime is being carried out among insurers and their intermediaries. They were unwilling to pay for the experience which can only be gathered at the 'coalface'. The mindset of regulators is of major concern, recycled regulation is not the way forward. We are sure the regulator is listening at last so perhaps IFAs can be made part of the solution rather than being perceived (we assume) as part of the problem.
Mind the regulatory gaps!