- Mar 16, 2017
While big data is helping companies draw valuable insights on consumer behaviour, it might also be driving alleged high-pressure sales tactics at banks.
Associate Professor Michael King was a guest on BNN’s The Street, discussing how the sales culture at banks might be empowered by technology. Like most industries, King says banks use technology-gathered data on consumers to target offers. But the same technology might also be used to monitor banking staff’s sales.
“I think what’s going on is the technology is being used, not only to prompt employees to make offers to customers, but also to monitor the employees and to sort of follow them on a day-to-day basis,” says King. “I think that’s creating a high-pressure sales environment where tellers and front office staff at the banks are feeling the need to really push products.”
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King was also interviewed by CBC’s Metro Morning, CBC News London, CBC’s alberta@noon, and for CBC radio chats in Western Canada and CBC programs across Canada.