Summary of The Good Bank

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Rating

8 Overall

9 Importance

7 Innovation

9 Style


Recommendation

To identify the essential characteristics of a “good bank,” the Economist Intelligence Unit (EIU) instigated an online debate among the world’s top financial mavens to elicit their viewpoints. This report – presented by EIU senior editor Dan Armstrong – reduces the definition of a good bank to three simple attributes: “effectiveness, trustworthiness and innovation.” getAbstract recommends this pertinent analysis to banking chiefs and policy makers responsible for evading future crises and rebuilding public trust in the banking system.

In this summary, you will learn

  • Why many people have lost confidence in the banking sector,
  • What three factors define a “good bank” and
  • Why banks need to shift their focus to the customer.
 

About the Author

Dan Armstrong is a senior editor at the Economist Intelligence Unit.

 

Summary

The recent global financial crisis dented the public’s confidence in the financial sector. Though the industry has done much to mend its ills, further reforms are necessary to recoup trust. Via an online survey, the Economist Intelligence Unit identified the three basic qualities of a “good bank”: “...

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