Banks look at new ways to attract customers

Nov 17, 05

Two different and interesting ways that Banks are experimenting to reach out to customers:

  • The Straits Times today had a report on Maybank extending home loan tenures till the age of 82. This is a radical break from the industry norm of paying off loans by the age of 70 here.
  • It is likely that retirement ages will increase in the near future. Peter F. Drucker had this to say about it, “we will have to raise retirement age, to 75 or even higher. For another, the nature of retirement will change. Expect people in the next century to phase in and out of retirement. And why not? They will be in better shape than 75 year olds of this era, and will have great job mobility from having worked in many positions and places in their careers.”

  • An interesting idea to encourage people to spend through Bank of America’s debit card
  • Leave a Reply