The Future of Retail Banking Delivering Value to Global Customer

by DiVanna, Joseph A.

• ISBN13: 9781403911261
• ISBN10: 1403911266
• Format: Hardcover
• Copyright: 2004-02-21
• Publisher: Palgrave Macmillan

Summary

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.

Author Biography

Joseph A. DiVanna is CEO, Maris Strategies Ltd.

Table of Contents

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