The Future of Retail Banking Delivering Value

This book arises from an event on the future of banking which included leading figures in the industry. It addresses current trends influencing competition including globalization, market structure, technology, and demographics and how these will impact upon companies and their organization, business opportunities, revenue streams, branding, and customer behavior. It will also show banks how to develop strategic initiatives for future competition. This will represent essential thinking for the banking and financial services industry.

Joseph A. DiVanna is CEO, Maris Strategies Ltd.

List of Figures

ix

Preface

xi

Acknowledgements

xii

Introduction

1

(5)

The Nature of Banking and its Future

6

(53)

Why is the nature of retail banking changing?

8

(4)

The return of the branch

12

(2)

Bankers: the historical intermediaries

14

(6)

The new lifestyle approach to global banking

20

(20)

The banking chameleon

40

(6)

Global cultural values and customization

46

(13)

Getting There: Thinking Ahead

59

(41)

The branch of the future

62

(2)

Sensing the market and identifying the competitive problem

64

(8)

The future of money, payments and value exchanges

72

(9)

Globalization, regulation, mergers and acquisitions

81

(4)

The advance of technology and innovation

85

(8)

Social factors and demographics

93

(7)

Being There: Preparing for the Future

100

(27)

What do these factors mean to your firm?

102

(4)

Organization, business processes and skills

106

(6)

Rethinking lines of business

112

(6)

Developing revenue opportunities and fee income

118

(2)

Branding, channels and customer behaviour

120

(7)

Competing There: Competing With New Rules

127

(38)

Developing strategic initiatives

133

(7)

Innovating new products and technology

140

(10)

Becoming customer intimate

150

(5)

Operational process excellence

155

(4)

Strategic sourcing and engaging co-opetition partners

159

(6)

Conclusion: Synergistic Banking

165

(9)

Developing synergistic behaviour

167

(3)

Adopt a return on process mentality

170

(1)

Three steps to synergy

171

(1)

A final note

172

(2)

References

174

(3)

Index

177

What is included with this book?

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The Future of Retail Banking Delivering Value to Global Customer

Summary

Author Biography

Table of Contents

Supplemental Materials