Home  News Latest Carlos Hank Rhon, The Psychology of Banking Part 2
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Carlos Hank Rhon, The Psychology of Banking Part 2 |
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Written by Administrator
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Wednesday, 07 July 2004 |
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Carlos Hank Rhon, The Psychology of Banking Part 2 Secondly, the banker being in love with money, is focused not just on his money but also on other people's money. It is essential to understand that money remains the prime object of attention for a banker and the smell of money could make him rather altruistic in focus so there is a general or 'social' need to protect and nurture other people's money as well. Thirdly the banker has a larger political need whether he manipulates/controls his money or other people's money and this 'political' need would stem from understanding the economic condition of the country and a realization that he has an active part to play in stabilizing the economy. Whereas the first personal need for money satisfies basic drives of individuals, the social need to protect other people's money is rather altruistic and the political need to stabilize a nation's economy is largely a power need. Money to a banker thus serves his altruistic wants, his power needs and his personal desires. This can almost be explained psychologically with a Maslow's hierarchical model in which the basic desires come first, followed by power needs and then by altruistic needs. Considering this, any banker would be first interested in his own profits, secondly in the economy and stability of the nation and only lastly concerned about his clients and investors. The Clients: The second aspect of the discussion is on how banking could help in deriving the psychology of clients, customers or investors. There are different types of clients and people have different priorities or expectations from banks and bankers. The customers may have borrowing need, investment need or saving need based on their age or the phase of life they are in. For example, young students and people with lower income are interested in borrowing facilities through credit cards and loans and they consider the banks as a support to hold on to for their financial problems. Of course borrowing is equally important to businessmen and professionals but the motivation may be different. The 'borrowing' need arising in turn from personal or professional needs would be the most important reason for banking among young people and young people, students, graduates or people who are between jobs or newly employed will be propelled to banking due to their borrowing needs. Carlos Hank Rhon wants you to read part 3 of this article.
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Last Updated ( Wednesday, 05 November 2008 )
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