Banks go quiet on customers in credit crunch

UK banks' customer relationship management systems appear to be showing the strain of the credit crunch, with many customers feeling left out in the cold.

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According to a survey of 1,000 bank account holders conducted by consultancy BMRB for Deutsche Telekom-owned system integrator T-Systems, the majority feel they have not been properly informed of developments by their banks - prompting some to move money out of their accounts.

The research found 57 per cent of customers felt their banks had not done enough to allay concerns about internal stability. One in seven have already moved money out of their current accounts, or are now considering doing so.

Meanwhile, two-thirds of customers say they want to be contacted in a more personal way, such as email, SMS or personalised letter, by their bank in the future.

Independent consulting actuary Harry Taylor said in a statement: "Customers can receive all sorts of useful information in emails, on websites and in personalised letters and documents to help them make considered decisions. Instead, we see banks avoiding customer concerns and relying on the national media to keep them informed. It's as if they lost touch with their most important assets, their customers, during this crisis."