Oliver Wyman – Co-operative Bank. Customer Champion
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COOPERATIVE BANKING
Leveraging the Cooperative Difference to Adapt to a New Environment
Oliver Wyman is pleased to present its third report report on Cooperative Banking in Europe.
In previous years we have examined how cooperative banks developed a distinctive banking proposition with their clients (Oliver Wyman, Cooperative Bank: Customer Champion, 2008) and how this contributes to the financial sector and the wider economy (Oliver Wyman, Banking on values, building on agility, 2012).
In this report we look at how the cooperative banking model is adapting to the current environment through two of its distinguishing characteristics: cooperative banks’ relationships with their members and other clients and their contributions to local communities.
Throughout the financial crisis and in post-crisis years cooperative banks in Europe have taken advantage of their customer-centric values to differentiate themselves from shareholder-owned banks in a context where the sector has been struggling to regain the trust of consumers. Cooperative banks have simultaneously increased their number of customers and the proportion of their customers who are members.