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E-raamat: Protecting Main Street: Measuring the Customer Experience in Financial Services for Business and Public Policy [Taylor & Francis e-raamat]

  • Formaat: 126 pages, 20 Tables, black and white; 10 Line drawings, black and white
  • Ilmumisaeg: 12-Aug-2010
  • Kirjastus: Routledge
  • ISBN-13: 9780203841983
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  • Taylor & Francis e-raamat
  • Hind: 189,26 €*
  • * hind, mis tagab piiramatu üheaegsete kasutajate arvuga ligipääsu piiramatuks ajaks
  • Tavahind: 270,37 €
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Protecting Main Street: Measuring the Customer Experience in Financial Services for Business and Public PolicySuurem pilt
  • Formaat: 126 pages, 20 Tables, black and white; 10 Line drawings, black and white
  • Ilmumisaeg: 12-Aug-2010
  • Kirjastus: Routledge
  • ISBN-13: 9780203841983
Teised raamatud teemal:
Taylor & Francis e-raamatudRohkem infot Taylor & Francis e-raamatute kohta
Raamatu kodulehekülg: https://www.taylorfrancis.com/books/9780203841983
"Paul Lubin's book provides clear, concise, and historical insight into the value of testing the consumer experience with financial products. A must read for anyone working in risk management or responsible for customer satisfaction within their organizations."-Marc Loewenthal. Senior Vice President, Chief Security/Privacy Officer for LPL Financial

"Protecting Main Street is an important book. Paul Lubin draws on his extraordinary depth of experience to show how measuring and auditing the consumer experience can point the way towards a financial services industry in which consumers are treated fairly and get the information they need to make more informed financial decisions. This is a compelling, practical book that should be a must read for those who want to better serve and protect consumers of financial products and services."-Eric Belsky. Executive Director of the Joint Center for Housing Studies of Harvard University

"Paul Lubin introduces a new, broader, and refreshing perspective of self-testing in this book. The view that self-testing not only benefits the financial institution but also the consumer by encouraging the institution to provide high quality products and services is novel. Furthermore, I believe Paul is right. This book is a must read for anyone interested in preventing unfair and unsound business practices as well as beginning and experienced users of self-testing."-Arthur R. Preiss, President, Preiss & Associates, LLC

"In these turbulent and complex financial times, this much-needed exposition on the role and responsibility of providers of financial services in ensuring positive customer experiences is outstanding. Lubin's delineation of mystery shopping, matched pair testing, and consumer surveys provides a solid foundation for ensuring fair and reasonable treatment of customers by lenders and sound financial decisions by consumers. Ultimately, this work should have a positive impact on government policy to benefit both firms and customers."-Jerome D. Williams, Prudential Professor of Urban Entrepreneurship and Research Director of The Center for ban Entrepreneurship and Economic Development. Rutgers Business School Newark and New Brunswick, Rutgers University

"The revelations in this book are critical to protect the customer experience and to repair public sentiment and confidence in the financial service markets. As we negotiate critical reparations of the financial service markets, Lubin's treatise prescribes actionable steps to manage systemic risks, protect the customer experience, and restore public sentiment. The research techniques advocated in Protecting Main Street are aggressive, proactive approaches to eradicate unfair and discriminatory practices from the financial service markets."-Sterling A. Bone. Ph.D., Marriott School of Management Brigham Young University

List of Figures xi
Preface: Buyer Beware and Dealing with Imperfect Markets xiii
1 Consumer Lending and Self-Testing 1(6)
1.1 Self-Testing Defined
1(1)
1.2 The Importance of Self-Testing for the Consumer
2(1)
1.3 The Importance of Self-Testing for the Financial Institution
3(1)
1.4 Pro-Active Self-Testing
4(3)
2 Self-Testing Methods to Measure Discrimination, Unfair Sales Practices, and the Customer Experience 7(6)
2.1 Mystery Shopping
7(1)
2.2 Matched Pair Testing and Monadic Testing
8(2)
2.3 Post-Application Surveys
10(1)
2.4 Other Self-Assessment Methods
11(2)
3 Steps in Designing and Analyzing a Self-Testing Program 13(20)
3.1 Defining the Purpose
13(2)
3.2 Designing the Questionnaire
15(6)
3.2.1 Designing the Mystery Shop Questionnaire
15(5)
3.2.2 Designing the Post-Application Questionnaire
20(1)
3.3 Designing the Mystery Shopper or Tester Profiles
21(2)
3.4 Designing the Scenario
23(3)
3.5 The Analytical Approach
26(7)
3.5.1 Analyzing Matched Pair Testing and Monadic Testing Results
26(3)
3.5.2 Analyzing Post-Application Consumer Survey Results
29(4)
4 Fair Lending Testing, 1991-2009 33(32)
4.1 The Forms of Discrimination
33(1)
4.2 Fair Lending Testing, Findings, Trends, and Best Practices
34(31)
4.2.1 The Early to Mid-1990's
34(5)
4.2.1.1 The Objective of Pre-Application and Matched Pair Testing
36(3)
4.2.1.2 The Philadelphia Commission on Human Rights Pre-Application Testing Program
39(1)
4.2.2 The Mid- to the Late 1990's
39(8)
4.2.2.1 Small Business Loan Matched Pair Testing
41(2)
4.2.2.2 Post-Application Surveys
43(1)
4.2.2.3 The Most Common Self-Testing Findings Mid- to Late 1990's
44(2)
4.2.2.4 Urban Institute Matched Pair Testing Study
46(1)
4.2.3 2000 to 2009
47(20)
4.2.3.1 Results
51(2)
4.2.3.2 Fair Housing Center of Greater Boston Matched Pair Testing
53(3)
4.2.3.3 Discrimination by Mortgage Brokers in Wholesale Channels
56(2)
4.2.3.4 Lender Self-Testing to Detect Discrimination
58(7)
5 Measuring Fair Treatment of Consumers in the Credit Card and Debit Card Marketplace 65(10)
5.1 Debit Cards
66(1)
5.2 Credit Cards
67(8)
5.2.1 The Credit Card Responsibility and Disclosure Act
67(3)
5.2.2 Providian, Monitoring the Customer Experience to Ensure Complete Customer Satisfaction
70(10)
5.2.2.1 Mystery Shopping
72(1)
5.2.2.2 Customer Satisfaction Telephone Surveys and Focus Groups
73(2)
6 Measuring Fair Treatment of Consumers in the Investment Marketplace 75(24)
6.1 Regulatory Guidelines Concerning the Sale of Mutual Funds and Non-Deposit Investment Products
78(2)
6.2 Market Research and Self-Testing in the Investment Marketplace
80(19)
6.2.1 Mystery Shopping and Investment Sales Practices
80(10)
6.2.1.1 The Scenario
81(1)
6.2.1.2 The Profile
81(4)
6.2.1.2.1 Profile 1
85(1)
6.2.1.2.2 Profile 2
85(1)
6.2.1.3 The Questionnaire
85(2)
6.2.1.4 The Report
87(2)
6.2.1.5 The Report Cards
89(1)
6.2.2 Consumer Surveys and Investment Sales Practices
90(9)
6.2.2.1 Mail Surveys
90(1)
6.2.2.2 Telephone Surveys
91(1)
6.2.2.3 Web Surveys
91(1)
6.2.2.4 Personal and Exit Surveys
91(1)
6.2.2.5 The Consumer Survey Questionnaire
92(2)
6.2.2.6 The Consumer Survey Report
94(5)
7 Epilogue 99(2)
Notes 101(4)
Index 105
Paul C. Lubin has more than 30 years experience measuring and improving the customer experience. He owned and operated one of leading financial services market research firms in the country, Barry Leeds and Associates and has worked for the leading financial institutions in America. He pioneered the use of market research to detect discrimination and unfair sales practices in consumer lending and developed self-testing testing programs for financial institutions facing allegations of discrimination and unfair sales practices. In the early 1990's, he pioneered the use of Mystery Shopping and Matched Pair Testing to detect discrimination in lending. In the early to mid-1990s he developed a method to test for discrimination through customer feedback and coined the phrase "post-application test." The procedure is considered a valid self-test for discrimination by federal regulatory agencies. At the same time he pioneered the use of Mystery Shopping to examine non-deposit investment sales practices at banks. During the late 1990's and into the new century Paul created programs to detect predatory lending and misleading sales practices. In November 2007 he wrote and presented a paper Fair Lending Testing: Trends, Training and Best Practices at the Understanding Consumer Credit Symposium sponsored by the Joint Center for Housing at Harvard University. The paper is cited by Department of Housing and Urban Development as a source for methods used by financial institutions to detect discrimination and compliance with the law. In 2009 he prepared and presented a paper to the American Marketing Association Public Policy Conference titled Market Research for Detecting and Eliminating Racial Profiling in Consumer Lending.
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