The Banking Game: Analysis of the extinction of the bank as trusted institution and NONIIs as an indicator of non-reciprocal strategies by Doreen Soutar. This is the third part of her literature review and conclusion to her investigation…
Retail Banking: a Co-Operative Model
The savings and loans banking division operates in a social environment which is built on repeated encounters, engendering the growth of mutual trust and cooperation (Motashemi & Mui, 2003). Here, customers are given to believe that the bank is essentially working for the augmented good of the group, where community wellbeing is the main focus rather than the wealth of the bank, as is implied in the statement by the CEO in Barclays’ annual statement (Diamond, 2010). This is not restricted to the equality of reciprocity of a single lender and the bank, but also applies to altruism “fed forward” in an emergent, and customers benefit at different times in differing amounts.