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An example could be that customers of a bank do not purchase a savings product for the pure safekeeping function, but rather for the promised interest payments on it. Consumers have imperfect information and therefore rely upon assistance to gain important and valuable information from the service provider...
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Financial service providers must therefore offer the required assistance and use this for successful businesses.
The biggest banks can be seen as their respective main competition, due to their offering of similar financial services. A way to remain competitive in the more and more complex banking environment is the use of the Customer Relationship Management (CRM) concept...
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