Wednesday, October 8, 2008

In a crisis, remember your customers

I can't really let the financial events of the last few days pass without saying something. But rather than tell you what bank I'm not going to invest in or what mattress my money is hidden under, I'll focus on customer communications happening with Online Bank Icesave (

I guess there's a tendancy to forget about customers when you're working for a bank that has not only been nationalised, but when the entire country is teetering on bankruptcy. Or should there be?

Is it really enough to place a message up on your homepage for over 24 hours that merely says:
We are not currently processing any deposits or any withdrawal requests through our Icesave internet accounts. We apologise for any inconvenience this may cause our customers
Mor recently (today) they have placed a link through tothe UK Govenment's treasury website that explains further the plans to protect UK citizen's savings, but where's the:

1. Regular updates from senior people in Landsbanki (its parent bank - nationalised)
2. Informative statement's from Icelandic Financial Services about the situation
3. Link through to other useful information

Although this bank's fate may be sealed, you wonder what the lack of messaging on other loss-making financial services sites may be doing to easy their customer worries... and therefore what it may be doing to their longer-term reputation.

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