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Bankers/Brokers puhleese explain "Escalate"

Just to start the ball rolling, would all you bankers and brokers please explain to me why the word "escalate" is being used to convince me that a loan is being dealt with urgently?  The word means (according to the Penguin English Dictionary) "to increase, or cause to increase in amount, scope, intensity or seriousness".  The loan hasnt increased in amount, scope or intensity and I'd like to think that all of my client's loans are treated seriously from the beginning.  Prior to the banking profession kidnapping the word some 2 years ago it was only ever used in the context of a war, mind you if you tell me the loan has been escalated and nothing happens, I might just start a war!!  Over to you.............................  Valerie AKA The Font

       Comments

Love the new web site!

Well, escalate in the IT industry, is something you do when an IT problem is reported but not fixed in the standard/expected resolution time by the Helpdesk or IT staff. The problem is 'escalated' meaning more resources, more urgency and more managerial oversight is provided to get the problem resolved as soon as possible. This also means that the priority of the problem in relation to all other problems is increased. This typically means someone else's problem is now set to a lower priority!

Like the old saying goes: "the squeaky wheel gets the grease". Your bank will escalate for you if you complain long and loud enough!
Your complaining is in fact an escalation - just like war.
Richard
21/02/2009 5:00:00 AM
I can't speak for bankers but I know a journalist who claims he's not just writing - no, he's "value-adding" and "streamlining" his "end product". I'm sure he thinks he sounds highly efficient - just like an "escalating" broker must. PS Valerie - love the new site, especially the calculator. Sheryl-Lee
20/02/2009 11:22:00 PM
Great website Val absolutely fab!! In my experience the only thing that seems to have "ecsalated" is the amount of calls the settlement agent needs to make to the bank checking on the progress of the loan and the amount of time spent on hold waiting for the call to be answered. Vicki
20/02/2009 7:02:00 PM
Not a banker or a broker but i too would like to hear the explanation. However I do love the new look website not only does it look good its easy to navigate around - keep up the excellent work Valerie & Team.
xox
Penny
20/02/2009 4:23:00 PM


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