In most businesses, customer apathy is not a good thing. If your customer is apathetic, they’re unlikely to feel loyal towards your business, let alone be an advocate for your brand. In banking and superannuation, however, it could be argued that the opposite is true.

CoreData’s research has persistently shown that while super funds’ most engaged customers are usually among the highest value members, they are often also the members most at risk of leaving.

If knowledge is power, then the more knowledge a customer has the higher the chance they’ll use that information to find a better deal elsewhere, or at the very least make an active rather than passive choice about where to invest their retirement nest egg.

That’s why engagement in superannuation and banking is a double-edged sword. And it’s a key reason why most of the innovation we’ve seen in the financial services industry to date has been focused on products, rather than on services.

Super and banking are two industries that rely on apathy. It’s hard to think of another industry with such a high proportion of customers that are dissatisfied with the product or service they receive and yet do nothing about it.