Today's banking industry is more competitive than ever before. Customers no longer feel they have to remain loyal to their bank and have no reservations about switching to a provider that is more effective at delivering what they want.

Banks have lost control of the sales process, thanks to social media channels. Rather than meeting with a sales representative to discuss a bank's offerings and services, customers are relying on Facebook, Twitter, Google+ and other channels to decide what brand they want to bank with.

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