Building Trust and Compassion in Banking Through Transparency and Social Capital
Huffington Post
Format:
Magazine Article
Publication Date:
2013/04/04/
Sources ID:
47571
Collection:
Altruism
Visibility:
Public (group default)
Abstract:
(Show)
David Brooks recently shared a conversation with a bank CEO. Economists found downside risks to continuing the bank’s presence in Italy. The CEO knew staying there would be unprofitable in the short term but didn’t want to be a “fair weather friend” and so remained in Italy. The CEO knew that banking is driven by trust, a goodwill asset controlled by customer emotions, not bankers. Research suggests positive emotions (gratitude and happiness) increase trust, and negative emotions (anger, betrayal) decrease trust.