Unit 2- Products And Services, Distribution Channels And The Customer Experience Flashcards
Maximum amount a customer can invest into an ISA each year is..
£20k
An equity release loan would be most suitable for a customer who wants to..
Raise money by freeing up some of the capital that is locked into their property
Level term assurance can be useful for a customer who wants to..
Provide security for dependants up to a certain age if the customer dies during the term of the policy
One way of empathising with a customer is by..
Saying “that must have been really frustrating for you”
If a complaint is not resolved between a bank and its customer, the customer may be entitled to refer the complaint to which regulatory body?
FOS
in terms of supporting vulnerable customers, what has been found to be the most effective method in helping them?
Sign posting to charitable organisations who can help them
What is having financial capability NOT?
About becoming a financial expert and passing exams
What does ISA stand for?
Individual savings account
An Islamic mortgage is a mortgage that is compliant with Shariah Law. Shariah mortgages are typically referred to as..
Home purchase plans
Investment products include various securities related products, such as mutual funds. These are also known as..
Unit trusts
Multi channel banking is
That a bank provides services to its customers through more than one channel.
EY 2018 suggests a way of segmenting customers in terms of how they feel about new technologies which could not have implications for the way they perceive their banking experience. What is not one of the 8 categories of customers:
Burdensome & proud
According to research from the times 2019, in the 7 years between 2012 and 2019 how many high street branches in the uk were closed??
2145
A customer’s experience can be affected by a number of factors. What is not one of them factors?
What service, products and services competitors are offering
What is not a feature of omnichannel banking?
A bank centric view
Optichannel banking :
The optimal number of channels for customer communication for particular customer requests
A standing order is
An instruction we give to our bank or building society to authorise a payment for a set amount usually on a regular basis to be made to another bank / building soxiety
If we used a paper based system for clearing cheques, how many days would it take for a cheque to clear?
Six weekdays excluding bank holidays
If a customer pays in a cheque at a post office, the cheque cleaning timescale will increase by at least one additional day. This is because
The post office is not a bank and has to send the cheque to a customer bank before it can be entered into the clearing system
