Wednesday, July 5, 2017

The bank shot itself in the foot.

Last night, after cocktails up in Canoe bar, I was treated to dinner in an upscale Toronto restaurant nearby, in the company of executives from an extremely large and very well known Asian company, who flew in for one night.  When I say large, they have more current customers (by a long shot) than exists in the entire population of Canada, and have more customers than all the Canadian banks combined.  As you may have guessed, we discussed the bank issue, my customer service experience and mobile security.

It transpires that the details of my customer service woes and technical concerns that I've made public on this blog so far, have become well known enough, that foreign companies are now discussing it as a modern day textbook case of what happens when an organisation fails it’s customers. 

In addition to now being invited back to Asia, I was surprised to hear that as an individual customer who the bank thought was of no real consequence and could be ignored for multiple years, I’m influencing decision making processes in very large foreign corporations to rule out this bank in the race for handling corporate accounts when this Asian company expands through acquisitions into Canada like it did the USA, based on how that bank handled the customer experience with me. The logic being that if the bank is unable to make me happy, how on earth would the bank handle a $85bn corporation, and they’re eager to find out when (or if) the bank is able to resolve this, and how. 

I never expected when I started documenting my experience on here and on Twitter, that I'd be cutting off many millions of dollars of potential revenue from one of my banks, and I doubt that the bank ever thought that by treating one customer this way, it would come to this either.  But, there you go; This ongoing festering mess that has inconvenienced me for years has now reached the point where the bank's actions are reflecting back onto the bank itself, and foreign corporations are now backing the little guy.  

Never a dull moment, eh...