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Lending Needs to Become More Buyer-Centric

by Kristin Moyer  |  August 28, 2009  |  3 Comments

I’ve seen the financial crisis make it tempting for banks to focus internally in order to reduce costs, deal with post-merger integration and other matters related to the financial crisis.  To be fair, an internal focus is not really that new, though – for example, the term “banker’s hours” has long been used to jokingly (or not so jokingly) describe the mentality of banks.  In addition, we’ve had a number of client interactions with C-level banking executives and others that have shown that many banks are so focused on operations and products that they do not understand who their customers are or what their customers really want.  While many other industries have become more buyer-centric (for example, travel, e-commerce), banking has not.

An internal focus is one of “six killers” identified by Gartner (that is, six things that can kill a bank).  A more externally-focused, buyer-centric approach is needed in banking in order to survive and thrive.  This will be especially important in lending as the market recovers, where the complexity of products and processes is high and neither transparent nor customer friendly.

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Category: operations  

Tags: add-new-tag  lending  

Kristin R. Moyer
Research Vice President
14 years at Gartner
more than 20 years IT industry

Kristin Moyer is a Research Vice President in Industry Advisory Services/Banking and Investment Services. She has more than 20 years of experience across the global high-technology industry in a variety of roles. Ms. Moyer's research coverage includes… Read Full Bio


Thoughts on Lending Needs to Become More Buyer-Centric


  1. […] week I wrote that lending needs to become more buyer-centric (see here).  This is really true across banking operations.  While many other industries have had to become […]

  2. Ramesh Niyyogi says:

    I have recently been following your blog. Thanks and its great that your blog has been so informative. In your article “Lending Needs to Become More Buyer-Centric” you have mentioned “Six Killers” the six things that can kill a bank. I searched for the details of six killers in the search window but in vain. Could u please throw some light.

    Awaiting your reply to my mail..

    Regards

    Ramesh Niyyogi

  3. Kristin Moyer says:

    Hi Ramesh, great question. Gartner will be releasing these at Fall Symposium. We’ll write about them when they are formally released – thanks for pointing out.



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