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Article
Publication date: 1 March 1983

John H. Goodfellow

The problems of examining the size and nature of personal saving behaviour in the UK are analysed, with particular reference to using and interpreting national account

Abstract

The problems of examining the size and nature of personal saving behaviour in the UK are analysed, with particular reference to using and interpreting national account statistics. Alternative methods of compiling saving statistics are considered. Whilst the inherent weaknesses in all current sources of data on personal saving are recognised by organisations compiling the statistics, reference should be made to them by all users of the information.

Details

International Journal of Bank Marketing, vol. 1 no. 3
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 14 November 2016

John Kevin Ashton

The study examines influence of behavioural economic theories of add-on goods and contingent charges on the regulation of two touchstone markets in the UK. These markets…

Abstract

Purpose

The study examines influence of behavioural economic theories of add-on goods and contingent charges on the regulation of two touchstone markets in the UK. These markets, the payment protection insurance (PPI) market and the market for overdrafts can both be characterised as add-on goods, have displayed excessive levels of profitability and been the focus of continuing and substantial public mis-trust. Despite these similarities, the regulatory treatment of these two markets has been very different. The purpose of this paper is to explore the context of these cases and examine why these differences in regulatory reporting have developed.

Design/methodology/approach

The research questions are examined through a detailed review of the regulatory reporting in the UK PPI and overdraft market. This review of over 20 regulatory reports, numerous enforcement actions, associated legal proceedings and related international evidence is employed to determine commonalities and differences in the regulatory actions proposed, motives adopted and success of these regulatory processes.

Findings

It is reported the dynamic and fragmented regulatory structure, multiple policy agendas and a successful legal intervention have all influenced how these financial services markets have been regulated and behavioural economic concepts applied. In particular aspects of overdraft markets remain challenging to address as it is still possible to exclude competition within aftermarkets. The regulatory intervention into PPI markets by contrast addressed concerns raised by add-on good theory and amended the form of distribution underlying this market more directly and successfully.

Originality/value

There have been numerous excellent reviews of behavioural economics and finance published on a diversity of topics. Despite such a wide coverage, a relatively under-researched aspect of this literature remains the application of these relatively new theoretical insights within markets and how these have influenced regulatory practice. This review of regulatory reporting addresses this gap in the literature through considering two of the most problematic financial services markets of the last decade in the UK.

Details

Review of Behavioral Finance, vol. 8 no. 2
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 1 March 1982

David A. Yorke and Anne Hayes

Highlights the female role in UK society and how it has changed in the twentieth century, with regard especially to equal rights and opportunities, legally protected by…

Abstract

Highlights the female role in UK society and how it has changed in the twentieth century, with regard especially to equal rights and opportunities, legally protected by the Sex Discrimination Act in 1975 and including the Equal Pay Act of 1970. Posits that female employment is the most obvious change this century and from 1961 to 1979 the total number of females working increased by 21/2 million. Compares the woman of the 1980s with her elders and states that she will spend more of her life working, have more money to spend, have fewer children and will have them later in life. Discusses in great detail many relevant factors regarding bank services as customers and employed. Uses results from group discussions as a sampling procedure – with five distinct groups represented. Concludes that the working female market comprises many segments, with varying needs and banks that recognize these needs should find the right strategies to employ here.

Details

European Journal of Marketing, vol. 16 no. 3
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 August 1995

Leigh Drake and David T. Llewellyn

Analyses alternative forms of pricing and pricing strategies ofbank payments services and reports the results of an internationalsurvey of pricing practices in 11…

Abstract

Analyses alternative forms of pricing and pricing strategies of bank payments services and reports the results of an international survey of pricing practices in 11 countries. Makes a distinction between implicit and explicit pricing and, in the context of British banks′ policy of implicit pricing for personal accounts maintained in credit, compares the pricing practice of British banks and those in other countries. Considers how each compares with optimal strategies indicated by the theoretical analysis. Finds that British banks are alone in not making explicit charges for payments services which is sub‐optimal: there is no incentive for customers to economize on their use of current account; this induces behaviour which raises the costs of banks, and there is no incentive for consumers to use cheaper forms of payment media. Implies a structure of cross‐subsidies which is unlikely to be sustainable in a more competitive market environment.

Details

International Journal of Bank Marketing, vol. 13 no. 5
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 1 February 1975

Alfred Singer

Alfred Singer, Managing Director of National Giro, the Post Office's money transfer and banking service, explains how this new public sector bank has confounded many of…

Abstract

Alfred Singer, Managing Director of National Giro, the Post Office's money transfer and banking service, explains how this new public sector bank has confounded many of its critics and established itself as a viable financial institution in only seven years. An important factor contributing to the upturn in Giro's fortunes has been its success in capturing the business of commercial organisations and public authorities, areas in which Giro cash collection services have made particularly spectacular growth. Mr. Singer explains what Giro offers corporate customers—and looks forward to providing a fuller range of commercial and personal account facilities now that many of the handicaps preventing the service from competing effectively with other banks are being removed.

Details

Managerial Finance, vol. 1 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 5 February 2018

Emmanuel Mogaji, Barbara Czarnecka and Annie Danbury

The purpose of this paper is twofold: to analyse the use of emotional appeals in business-to-business (B2B) bank advertisements and to understand business owners…

Abstract

Purpose

The purpose of this paper is twofold: to analyse the use of emotional appeals in business-to-business (B2B) bank advertisements and to understand business owners’ perceptions of such appeals.

Design/methodology/approach

In Study 1,834 print advertisements collected from British newspapers were content analysed. In Study 2, semi-structured interviews with 17 business owners operating a business current account with a British bank were carried out.

Findings

Emotional appeals are embedded in B2B financial services advertisements, and business owners acknowledge the presence of emotional appeals; however, the perceived congruency between emotional appeal and financial services could not be established as participants reported a largely utilitarian, need- and benefit-driven decision-making process.

Research limitations/implications

Accurately measuring emotions aroused through advertisements is considered a limitation. In addition, the sample of participants considered for this research project was small and medium-sized business owners.

Practical implications

Emotional appeals should be used in conjunction with detailed rational information about financial products, as emotional appeals only arouse interest. Relationship is considered crucial in capitalising on the emotionally appealing advertisements. Customers must feel appreciated and loyalty should be rewarded.

Originality/value

The paper responds to numerous calls for more research into the role of emotional influences on the relationships in a B2B context and on the behaviour of business customers.

Details

International Journal of Bank Marketing, vol. 36 no. 1
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 1 April 2001

Neil Munro

The purpose of this paper is to determine whether Internet‐based services, used by those individuals or organisations seeking to launder monies derived from illegal…

Abstract

The purpose of this paper is to determine whether Internet‐based services, used by those individuals or organisations seeking to launder monies derived from illegal sources, will pose a greater risk to financial institutions than more traditional financial services. The use of the financial services sector by criminals seeking to ‘launder’ money has become a business risk that financial institutions cannot ignore, with governments and regulators increasing the legislation and regulation designed to prevent money laundering. Financial institutions have both a moral and a legal obligation to assist in preventing criminals from obtaining benefits from their activities. Simultaneously, the development of Internet‐based financial services continues at a rapid pace, with new technologies such as Wireless Application Protocol (WAP)‐enabled telephones and interactive televisions empowering customers, allowing them the flexibility to carry out transactions without the direct involvement of the institution.

Details

Journal of Financial Crime, vol. 9 no. 2
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 July 2002

Ahmad Jamal and Kamal Naser

Understanding the antecedents to and outcomes of customer satisfaction is a critical issue for both academics and bank marketers. Previous research has identified service…

Abstract

Understanding the antecedents to and outcomes of customer satisfaction is a critical issue for both academics and bank marketers. Previous research has identified service quality, expectations, disconfirmation, performance, desires, affect and equity as important antecedents of customer satisfaction. The current paper reports findings from a survey which looked into the impact of service quality dimensions and customer expertise on satisfaction. A sample of 167 respondents took part in this study. Findings indicate that both core and relational dimensions of service quality appear to be linked to customer satisfaction. Findings also indicate that expertise is negatively related to satisfaction. The paper discusses implications for bank managers.

Details

International Journal of Bank Marketing, vol. 20 no. 4
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 1 January 2006

Louis de Koker

The purpose of this paper is to explore the relationship between anti‐money laundering (“AML”) and combating of financing of terrorism (“CFT”) customer due diligence…

Abstract

Purpose

The purpose of this paper is to explore the relationship between anti‐money laundering (“AML”) and combating of financing of terrorism (“CFT”) customer due diligence (“CDD”) measures in the financial services industry, and exclusion from financial services.

Design/methodology/approach

An introduction to the concept of financial exclusion is provided as well as an overview of international AML/CFT CDD standards. The paper highlights a softening of national CDD measures in South Africa and the UK to lessen the impact on financial exclusion.

Findings

Countries should consider the impact that CDD requirements may have on financial exclusion when they design their AML/CFT systems.

Research limitations/implications

Multi‐discilinary research is required to improve the understanding of the broader interaction between AML/CFT objectives, financial exclusion and economic development, especially in countries with a large informal economy.

Practical implications

CDD requirements may unnecessarily exacerbate financial exclusion if they are not formulated with care to reflect the reality of the particular country setting.

Originality/value

The paper offers insights into the international standards resulting to the identification of clients and the experiences in the UK and South Africa regarding the implementation of these standards on financial exclusion.

Details

Journal of Financial Crime, vol. 13 no. 1
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 February 2003

Ahmad Jamal and Kamal Naser

Customer satisfaction is a significant issue for most marketers. Previous research has identified various factors that determine customer satisfaction in retail banking…

Abstract

Customer satisfaction is a significant issue for most marketers. Previous research has identified various factors that determine customer satisfaction in retail banking sector in Western countries. The current paper reports findings from a survey, which looked into determinants of customer satisfaction in the retail banking in Pakistan. A total of 300 questionnaires were randomly distributed to customers of a specific bank in Pakistan. Results indicate that there was a strong relationship between service quality and customer satisfaction. There was, however, no relationship between customer satisfaction and tangible aspects of the service environment. The paper discusses implications for bank management.

Details

International Journal of Commerce and Management, vol. 13 no. 2
Type: Research Article
ISSN: 1056-9219

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