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To date, reputation has not been a significant factor influencing consumer behaviour in financial services. In other words, despite the real growth of fines and stream of bad press, consumers aren’t voting with their feet, and reputation has not significantly impacted the bottom line of leading financial organisations.
If you’re anything like me, in various accounts online you’ll have some pounds, some airmiles, some supermarket rewards points, perhaps even some dollars or euros. These are all forms of money – they’re tokens that can be exchanged for some kind of good or service.
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