Is it savings fund or really banking service?

The Bank of Co-op Members

This is how the newest bank in Finland, S-Bank, advertises itself. Banking service in compliance with the customer’s values. But is the service really customer-focused? Are customers´ needs heard and customers´ everyday life taken into account? Does this sound more like a savings fund…?


The values of  S-Bank seem to be general statements that could be a part of rules at a primary school. The only concrete value seems to be “profitability” but it looks like the very value is not fulfilled.

Do we realize and recognize our own values? Indeed, what kind of expectation do we have for banking services?

Isn’t it so that different generations value different things? “Baby boomers” value security, reliability and traditional banking services. For generations Y and X it is important to get a cheap loan for family needs like mortgage and a loan for a vehicle. For generation Z, technical solutions in service and 24/7 opening hours in mobile and online banking services are taken for granted.

Credibility of the Bank

As a mortgage applicant, you may feel that your computer has been hacked when a web-page changes to a web-page of another bank. You fill your mortgage application on a web-page of another bank that earlier has been merged with S-bank. S-bank does not mention this on their webpage and this can be confusing for at least some new customers.

Banking services are obtainable only in customer service points. And within geographically wide area there may be only one customer service point available. There are also self-service points in S-group outlets, but there you can only fill in a bank account application form. Self-service points in small S-markets don’t give a feeling of confident and modern banking services.

The aim of S-Bank should brighten up what the S-Bank want to be and communicate those things more clear to customer point of view. S-Bank should fix above-mentioned affairs to achieve trust of the customer.

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