Eric Leenders - Vikram Lund
Welcome to Episode Five of Progressing Financial Markets, a podcast series brought to you by Voices in Business and sponsored by IBM.
On today’s show, we talk to Eric Leenders of the British Bankers Association and Vikram Lund of IBM about Moving the Retail Banking Industry Forward.
As the head of the Retail team at the British Bankers’ Association, Eric’s brief covers a broad portfolio of issues, including forthcoming revisions to the Consumer Credit Act, PPI, proposed changes to insolvency and debt management legislation, pensions and savings, and the Banking Code. Eric has over twenty years experience as a career banker in retail banking with NatWest and latterly the Royal Bank of Scotland Group. During this time, the roles he has undertaken have been both operational and strategic, including successful spells as a branch and business manager. Before joining the BBA, he was responsible for a portfolio of policy-driven projects in PR and communications, new and emergent markets, legal and regulatory issues and crisis management.
Vikram Lund is a Banker with over 20 years of experience in the retail banking industry. He has been with IBM for 10 years and has held various management positions in the Banking Industry Team. Prior to IBM he has held senior positions with major US Banks responsible for developing and managing wealth management businesses. Presently, Mr. Lund serves as the Banking Industry Leader for North East Europe. In this role, he is responsible for driving growth in our Banking business. He is responsible for key client relationships and driving IBM’s overall solutions business.
A full transcript of this episode is available here.
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1 comment so far
“Trust cannot be sold, it must be demonstrated”.
This is very true in the new business paradigm. Customers are now more aware and wary of being traditionally marketed. Inferring one’s worthiness in the market based on size or making self-referential claims of being the best is no longer a viable strategy. In addition to rethinking the historical mindset, banks need to embrace the new e-marketing strategies where Sales and Marketing align better to engage customers based on demonstrated value and trust. Business cannot stand aloof in this new economy. I agree that restoring respect and integrity is the order of the day. Building relationships through conversations with customers in the new electronic marketplace, is where victories over competitors will be fought and won. For instance,more and more people are interacting in the social media space, which increases in sophistication every day. Embracing the new electronic strategies that attract this audience to a brand will positively impact lead generation and lead nurturing programs going forward.
I recently met someone who works at a large insurance firm. Her department is the nexus between sales, marketing and customer service. She recognized that if she could engage better with current customers, that not only would there be increased opportunity for cross-selling, but more opportunity for lead generation through referrals.
It’s relationships that build trust. Listening and responding to customer need and nurturing those relationships will help create the new competitive edge.
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