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Are bank
products
sufficiently
transparent?
Since 2008, making bank products
more transparent has been high on the
agenda of politics, society and the fi-
nancial sector. Various measures were
issued to improve transparency. The
products were also examined carefully,
but despite many good intentions it
turned out not always to be so easy to
simplify them. The financial markets
are already very complex by nature,
and financial products reflect that to
some extent by definition.
However, much progress has been
made in more transparent explanations
of the operation of financial products.
Due to the fact that, in the past few years, the
customer database within the financial insti-
tutions has clearly been segmented, a greater
trend has come about for more relationship
banking. Financial advisors have been able to
specialise in a specific customer profile. That
must enable them to explain the products and
transparency
3.
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