What has happened to the banks? In Australia, there are four big players in the banking system. They are Australia and New Zealand (ANZ), the Commonwealth, National Australia bank ( NAB ) and Westpac. These four banks control and influence so many Australians on how they live their lives. With no competition, they recently tarnished their public image even more.
When the Reserve Bank of Australia announced that it would place the interest rates on hold, the big four decided to raise it. To make things worst; when people were upset with the banks, they learned in the paper that theses banks were shedding thousands of jobs over the next couple of years. Soon after, reports confirmed that the Commonwealth Bank was having a “Pirate Party” for 200 of its staff. Staff mocked the party, believing customers thought bankers were pirates. When the Sydney Morning Herald reported that one of the banks had deleted all the negative comments from its Facebook page due to negative comments on the site. Westpac claimed that the comments would deter people from its financial products. I good read is “Living on edge in social media – two case studies of Australian Social Media” by Craig Thomler.
Why do these banks treat people like numbers? If they wonder why people dislike or don’t trust them, they need to fix this. People have built their own image of what banks are, a greedy corporation that doesn’t empathize with people. I hope that they come to realize that this type of behaviour is unacceptable. There will come a time when people will no longer tolerate the selfishness of banks or greedy corporations. Do you think banks can change? Or you can bank on them to …!