Bank workers at G20 meeting with message: sales pressure doesn’t work for customers

Against the backdrop of world leaders grappling with the financial crisis at the G20 meeting in London, four bank workers from Brazil, Denmark, the UK and the United States have told the inside story of the sales culture which contributed to the crisis.

A media briefing organized by UNI global union (of which Finsec is a member) warned that banks’ focus on short term profit is putting entire economies at risk. UNI has developed key elements of a new business model that would reshape the financial system, which it is urging the G20 leaders to adopt.

The bank workers told international media how incentive systems to sell products can put them in conflict with customers’ needs and interfere with the way they deal with clients.

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