That’s why banks do so little for this attractive target group

WirtschaftsWoche: Mr. Dierssen, more and more bank branches are being closed, ATMs are being dismantled, banks are merging. One group affected by such changes are older bank customers, who often have large assets and do not easily switch banks digitally. Are banks not doing enough for this group?
Christian Dierssen: The really very wealthy older investors have no problem finding a bank that will advise them personally. But we are mostly talking about freely available and liquid assets starting from 500,000 euros. This is not the majority of those who use bank services. And this group is not taken into enough account with the banks’ current product and process offerings, even though they are attractive because of their often very loyal customers. However, since many of today’s fixed-interest offers require that the accounts be opened online, many older customers are not eligible. A contemporary offer for the interesting customer group is often missing when banks concentrate purely on online sales.