Traditionally, banks have presented themselves as solid and unyielding organizations. Even the traditional architecture of banks reflected this: solid buildings with stone pillars and heavy doors. This image of solidity provided an air of reliability, the idea that your money was safe.

Of course this image has been severely battered over the past months, and banks all over the world have to find a new way to relate to their clients. Still, many banks have trouble letting go of their old ways, and continue to position themselves as fixed institutions rather than flexible financial service providers.

Growing with your clients
One aspect of life and banking where banks still have a lot to gain is personal lifecycles. Most banks offer special savings accounts for young kids, but once their clients are able to sign for their own transactions it seems like they stopped growing. There is no package of financial products that continues to adapt to the special needs and wishes of people as they grow and develop. From a student renting an apartment and needing a loan for books, to a young professional buying his first car, to a parent looking for a bigger house, to a retiree, people are stuck to the same bank account with the same services at the same costs.

Leave them happy
There is a great opportunity for banks to offer products that grow and evolve along with their customers, shifting into new life phases with as little effort as possible. And perhaps banks can even take it one step further: why cling on to customers that are obviously not yet ready or have already outgrown you? Different brands have a different appeal to people in different life phases. A bank that has a great appeal to a younger generation might be well served focusing on this group and doing as much as possible to facilitate a seamless shift to another bank, a sister brand or maybe even a competitor. Leaving a happy customer, you’re more likely to open bank accounts for their future children.