Apples-to-apples comparisons are less fruitful these days

To say banking is competitive today is a revelation as surprising as acknowledging that the Pope is Catholic. So why, then, are we still measuring success relative to a peer group that includes only banks that look like we do, act like we do, and operate in the same geography we’re in? I’m not saying that traditional peer comparisons are wrong. I’m saying they’re insufficient. As a marketer, acting only on traditional apples-to-apples numbers can lull us into a false sense of security and a plausible excuse to forgo proactive urgency . . .

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