Since the beginning of time, all cultures have sought after security and affluence and were loyal to anyone who could provide both. Government used to provide both. Today – not so much!

Why can’t banks step into this vacuum and help their customers secure their assets and provide guidance to help maximize their earnings? The banks that can provide both will be rewarded with increased revenue and customers who are not only loyal but also are advocates. Traditional thinking has always been that multiple relationships (products and services) meant longevity and loyalty. That may have been true in the past, but today realities have changed and tomorrow they will change again!

The hassle factor of moving a direct deposit or bill pay account, which stood as "barriers" to bank transition are now being knocked down by technology. Instead of making it tough for customers to leave, banks in the future will need to put processes in place that makes customers want to stay.

The question is: what processes?

At a recent banking conference, I saw an interesting survey which stated that 3 of 4 consumers indicated that it was important to get guidance from their bank. However, 3 of 5 said they are NOT getting this type of help today! Even more disturbing – almost all surveyed responders felt their bank was more interested in making money than providing for their security and affluence.

So how about the security issue? After all, banks have big “vaults” protecting their money, right?

In this digital day and age, a person’s wealth and identity are just a “mouse click away” from being compromised. This will become even more important as we move into Mobile Banking Optimization. Customers in the future are going to ask their bank, “Can you protect my assets as I deploy them where needed?” Unless banks have advanced processes and technologies in place and can articulate their security position, then any retention strategy is voided.

The Financial Services industry has always been slow to change. Kind of like a medieval farmer: he did what his dad did and his son would do the same. You don’t have to look back a lifetime, a decade or even the last year to realize that change has accelerated.

Here’s the reality: technology will change the way we think about retaining our best customers. Successful banks will recognize this new reality sooner rather than later to the delight of their customers, balance sheets and stockholders. Remember...fundamentally, banking customers today are no different than since the beginning of time!