by qrono
4. November 2009 04:47
Financial services information provider Bank Administration Institute (BAI) measures consumer views across five areas: financial stress and the economy, access to credit, fees and disclosure, managing personal finances and consumer trust. The index’s findings indicate that one-third of consumers feel their financial situation has deteriorated in recent months, but few expect conditions to grow even worse.
Of those surveyed, 31% indicated that access to mortgages is worse now than six months ago, while only 5% said it improved. The projections indicate that 12% of respondents expected access to improve in another six months, while 15% expect access to worsen. “In today’s fast-changing scenario, consumer opinion counts more than ever before and technology has made the consumer highly empowered,” said Haragopal Mangipudi, global head at Finacle. “Presented with diverse and ever-dynamic consumer segments, banks need to anticipate changing requirements and fine-tune business strategy.”
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