We will explore a range of recent documented episodes of mis-selling in Hong Kong, Singapore and Australia and determine the common underlying legal, business and social themes that banks have had to face with.

By mapping out the salaries and commission structures of different best practice institutions, we attempted to identify the sustainable model in hiring, retaining and mobilising effective sales people and teams. We also examine some of the common complains and support requirements amongst sales staff selling financial products and how to address them.

By mapping out what we think is a best practice workflow, documentation and checks and balances that should be in place, we will deal with the risk controls and compliance elements that we believe form the institutional defence against allegations of mis-selling. This includes reinforcing risk controls at the middle and bank offices that is currently non-existent in most consumer banks.

We will examine the manner in which third party product relationships are built today and where the gaps were that gave rise to the liabilities that banks faced when selling for them.

Against the human and work flow processes that need to be in place, we explore some of the technologies currently available that banks can implement to enhance their sales infrastructure. Some of these technologies support workflow and others are data centric in order to mine customer information more effectively.

Based on our study of emerging best practices in this industry, we provide a set of benchmarks that we would use in order to assess if a bank as a sustainable sales and marketing capability. This includes everything from the management philosophy and direction, to salary incentives and the business process and infrastructure that we have outlined above. We also provide a sense of where in our view several best practice institutions around the world and in emerging countries stand today in their efforts to rebuild their sales and marketing capability.