Rural banks step up consumer protection

Besides market forces, one of the factors that dictate the fate of a business is customer feedback. This is especially important for institutions like banks, where product innovation is controlled by regulations and offerings are quite easy to match by competitors.

To ensure customer patronage, some banks have undergone revamps to create a more personalized experience for their clients. They now offer a wider range of products tailor-made for every possible customer, from teens to young professionals and the retired. For rural banks, however, personalized banking is not simply a business decision to keep customers from leaving; it is a feature that is truly intrinsic to its nature.