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Egyii Pte. Ltd.
Singapore
www.egyii.com 
An Egyii White PaperOld World Banking vs. New World Banking- the Opportunity toClimb out of the Crisis
 
By James Irvine, Director 
 
 
Introduction
Today’s crisis brings us multiplechallenges but also brings usopportunities to change for the better. If we look at andlearn from the past (old world)and focus on today and thefuture (new world), we realizethat a change has to happen.Let’s look at a typical prioritybanking customer scenario inthe old world:
One day about 18 monthsago I got a call from myRelationship Manager  suggesting that we look at myfinancial situation.During the meeting I explainedthe reasons why I wanted toleave my funds in cash. MyRelationship Manager became a bit agitated by this,and proceeded to suggestthat I invest in equities for aminimum of 5 years “so thatany downswings will have timeto turn up again”.I understood his logic, but Ididn’t understand his emotion.Rather than seeming to beinterested in helping me tomake my money work for me,instead he seemed intent onachieving the outcome thathe wanted. It was the signalshe was sending me (probablyunconsciously) that put me off.It was almost as if he was saying “You’d be a fool if youdidn’t take my advice”. I gotthe impression that something elsewas driving him, of which I wouldnever become aware.I fear that his situation is all toocommon. It’s time that relationshipmanagers and the bank take anhonest look at their own consciousand unconscious behavior and thinkabout how they can really meet myneeds.
 
The Problem
How do you and your relationshipmanagers deal with the problemsresulting from this old world mindset?You don’t have time to think aboutit. Your business is a mess, your numbers are down, clients arepulling out and leaving for competitors, your bank’s image andthat of others across the world istarnished. Your relationshipmanagers have tried every tacticand are demoralized.You’re at your wits’ end trying todecide where to go from here. ‘Howcan we possibly re-build the businessthrough all that lost trust?’ ‘Do wehave to wait it out until events turn inour favour?’The old world ways of marketing,selling, managing and waiting for something in the outside world tochange, are a recipe for losing morebusiness to competitors whocapitalize on the current scenarioand create an upturn before youdo.
 
 
The Opportunity
Today, banks need to startwith a clean sheet. Right nowyou have the opportunity tobe a first mover in a newmarket in the new world ofbusiness, where thousands ofpotential new clients arewaiting for someone to offer them something new – something that they truly want.Giving clients what they wantdoesn’t start with newbranding messages, promisesof change, or re-designedproducts. It starts withbehaviour. Nothing elsecomes close to showing your clients what you really believeand care about as anorganisation. It is thebehaviour of each relationshipmanager in ALL interactionsthat will convince your clientsof your authenticity andintegrity.‘But we know all that’ you say.The truth is, the behaviour thatclients have experienced todate simply has not worked.It’s no good knowing thetechniques of how to ‘greet aclient’, ‘build rapport’, ‘showinterest’ and ‘offer a solution’without standing back andaddressing your underlying
intent
. Clients know when youare not authentic, however smooth a communicator youmay be. And when they don’tfeel this authenticity in thosethey deal with face-to-face, on thephone and by email, they vote withtheir feet (and money).
The Action- The Egyii Solution
 
Winning in the new world meansbeing passionate about your business and at the same time beingeffective in all your clientinteractions. Passion comes fromseeing your business, your role andyour client in a new light. Andeffectiveness comes from having theskills to quickly assess your client’sexpectations and meet them inexactly the way your client wants.This means that you need to startwith your mind and your thinkingbefore you attempt to change your behavior. How you think about your business, your role and your client willdetermine the decisions and actionsyou take, which in turn will determinethe results you get.With new perspectives that changehow you feel about your work, youare ready to adopt new skills for engaging clients on their own terms.Achieving good results in the newworld of business, then, demandsthat you follow two crucial andinterlinked steps:1.
 
Developing the right mindset2.
 
Developing the right skill setThese two steps are inextricablylinked. You cannot use a new set ofskills effectively if you don’t supportthese with the right thoughts andemotions. Similarly, it’s no use havinga genuine, believable and authentic
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